The End of Consumer Credit as we know it

[kewp]

stansd,

If Peter Schiff is right, the dollar is going to fall 50% against other currencies. So those Mexican and Indian workers are going to be at parity with American workers; with the caveat that they are more difficult to manage.

I agree that we are seeing a global shift, but I see it more of a global gentrification than a gloom and doom scenario. Our quality of life goes down while the rest of the worlds goes up.

Given that we over-consume anyway, can’t say that I think this is a bad thing.

[patientlywaiting]

I agree with stansd. Unfortunately, globalization is unstoppable.

However, if you take a world view, globalization and increasing wage parity will lift hundreds of millions out of poverty.

[patientlywaiting]

I agree with stansd. Unfortunately, globalization is unstoppable.

However, if you take a world view, globalization and increasing wage parity will lift hundreds of millions out of poverty.

[patientlywaiting]

I agree with stansd. Unfortunately, globalization is unstoppable.

However, if you take a world view, globalization and increasing wage parity will lift hundreds of millions out of poverty.

[patientlywaiting]

I agree with stansd. Unfortunately, globalization is unstoppable.

However, if you take a world view, globalization and increasing wage parity will lift hundreds of millions out of poverty.

[patientlywaiting]

I agree with stansd. Unfortunately, globalization is unstoppable.

However, if you take a world view, globalization and increasing wage parity will lift hundreds of millions out of poverty.

[svelte]

I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. This has been going on in IT for some time, but it is rapidly working it’s way up the food chain.

It’s been going on for 30 or 40 years, with manufacturing being shipped overseas prior to IT. It’s just finally hit your neck of the woods.

Is it any wonder that we have enjoyed such a vibrant consumer based economy when a working class couple with perhaps $60,000 per year of household income can borrow over $500,000 (tax free) and buy whatever they want with the money?

Oh, it isn’t just consumers. It appears to me they’ve learned it from the executive and legislative branches of their government- look at how the federal debt took off around 1980 and has barely looked back.

http://www.brillig.com/debt_clock/faq.html

[svelte]

I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. This has been going on in IT for some time, but it is rapidly working it’s way up the food chain.

It’s been going on for 30 or 40 years, with manufacturing being shipped overseas prior to IT. It’s just finally hit your neck of the woods.

Is it any wonder that we have enjoyed such a vibrant consumer based economy when a working class couple with perhaps $60,000 per year of household income can borrow over $500,000 (tax free) and buy whatever they want with the money?

Oh, it isn’t just consumers. It appears to me they’ve learned it from the executive and legislative branches of their government- look at how the federal debt took off around 1980 and has barely looked back.

http://www.brillig.com/debt_clock/faq.html

[svelte]

I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. This has been going on in IT for some time, but it is rapidly working it’s way up the food chain.

It’s been going on for 30 or 40 years, with manufacturing being shipped overseas prior to IT. It’s just finally hit your neck of the woods.

Is it any wonder that we have enjoyed such a vibrant consumer based economy when a working class couple with perhaps $60,000 per year of household income can borrow over $500,000 (tax free) and buy whatever they want with the money?

Oh, it isn’t just consumers. It appears to me they’ve learned it from the executive and legislative branches of their government- look at how the federal debt took off around 1980 and has barely looked back.

http://www.brillig.com/debt_clock/faq.html

[svelte]

I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. This has been going on in IT for some time, but it is rapidly working it’s way up the food chain.

It’s been going on for 30 or 40 years, with manufacturing being shipped overseas prior to IT. It’s just finally hit your neck of the woods.

Is it any wonder that we have enjoyed such a vibrant consumer based economy when a working class couple with perhaps $60,000 per year of household income can borrow over $500,000 (tax free) and buy whatever they want with the money?

Oh, it isn’t just consumers. It appears to me they’ve learned it from the executive and legislative branches of their government- look at how the federal debt took off around 1980 and has barely looked back.

http://www.brillig.com/debt_clock/faq.html

[svelte]

I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. This has been going on in IT for some time, but it is rapidly working it’s way up the food chain.

It’s been going on for 30 or 40 years, with manufacturing being shipped overseas prior to IT. It’s just finally hit your neck of the woods.

Is it any wonder that we have enjoyed such a vibrant consumer based economy when a working class couple with perhaps $60,000 per year of household income can borrow over $500,000 (tax free) and buy whatever they want with the money?

Oh, it isn’t just consumers. It appears to me they’ve learned it from the executive and legislative branches of their government- look at how the federal debt took off around 1980 and has barely looked back.

http://www.brillig.com/debt_clock/faq.html

[jimmyle]

Unlike most of you, I have lived under “$1/day” during most of my childhood and then I have the priviledge to live in the US, I would say that even if our consumption is reduced by 20% to 30% it wouldn’t be too bad.

[jimmyle]

Unlike most of you, I have lived under “$1/day” during most of my childhood and then I have the priviledge to live in the US, I would say that even if our consumption is reduced by 20% to 30% it wouldn’t be too bad.

[jimmyle]

Unlike most of you, I have lived under “$1/day” during most of my childhood and then I have the priviledge to live in the US, I would say that even if our consumption is reduced by 20% to 30% it wouldn’t be too bad.

[jimmyle]

Unlike most of you, I have lived under “$1/day” during most of my childhood and then I have the priviledge to live in the US, I would say that even if our consumption is reduced by 20% to 30% it wouldn’t be too bad.

[Author]

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