Miss a Payment, Triple Your Interest Rate
October 14, 2003 8:13 AM Subscribe
Americans are not going broke over lattes!
Salon (warning: ad click-through required) interviews the author of a book who contends that American middle class overconsumption is a myth. This made me really think about how I relate to my $$$, and what I think is pushing me deeper into a hole. According to this author, kids are forcing people into bankruptcy, and it's not because we buy them gameboys and expensive clothes. The author also claims that credit card companies and mortgage lenders need to be regulated by the govt., as they are feeding off of middle class hardships. It's also making me wonder why real estate developers aren't building small homes anymore, at least in my state of the union.
posted by archimago (91 comments total)