Buying things you don't need with money you don't have?
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Consumers borrowing at fastest pace in four-months
May 9, 2007

Axcess News reports that “According to the US Federal Reserve, consumers are borrowing at the fastest pace in four-months, despite the rise in gasoline prices and collapse of the housing market. Consumer credit increased at a 6.7 percent annual rate in March compared to a 2.8 percent increase the prior month, which marked the fastest pace of consumer borrowing since November.”

Maybe people are borrowing faster and more, not because they are ignorant and stupid but because they might understand that the country is headed for a depression that is going to be greater than the Great Depression. Maybe these people think “if we’re going to crash hard, let’s live it up while we can”.


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