[quote=stockstradr]I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.
Me: “Hi, just calling to say hi and ask how’s it going?”
Friend: “Oh, great, I’m out shopping right now?”
Me: “Shopping? I thought you lost your job?”
Friend: “Well, we have some extra money”
Me: “Extra money? Where’s your money tree?”
Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”
Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”
Friend: “Oh, yeah, plus we got an extension on my unemployment”
Me: “OK, I see. You’ve got extra money to spend. Great.”
Friend: “It seems so!”
Me: “I guess that’s why the economy shows signs of recovering?”
Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”[/quote]
For those who think stockstrader is making this up, I’ve had these very same conversations with friends, acquaintances, and strangers (yep, people will admit that to total strangers — and they’re PROUD of it!). Not kidding. 🙁
