Earn in Dimes...Spend in $$$

noreply@blogger.com (Bhavesh Lakhani) — Sun, 5 Oct 2008 07:11:00 -0700

Earnings in dimes and spends in dollars!!!! This is the very root cause of the sub-prime crisis which now has a hole bigger than a few trillion dollars. This can't and should not be blamed on the "american" way of living nor should their low IQ (financial, social and general) be credited. The over all credit should be given to the guilt of the republicans who, in order to raise the high consumer home index lent money at atrocious rates and encouraged the common-man/woman to improve their houses and now lose their homes.

Barring the few living humans who have witnessed the Great Depression of 1929, it's a once-in-my-life situation which just can't be averted. The senate may have made amendments to the rescue-bill before passing it but this, at the risk of sounding cynical, is not a solution at all...not by a long shot! A GDP of $14 trillion and a country rich in resources has been reduced to what it is today!

Bhavesh Lakhani