Tuesday, October 11, 2022

"You Ain't Seen Nothing Yet, It's About To Get Really Bad; Credit Card Debt Will Crush You; Restaurants Will Not Survive"

Jeremiah Babe, 10/11/22:
"Credit Card Debt Will Crush You; 
Restaurants Will Not Survive; Economic Downturn Accelerates"
Comments here:
"When people pile up debts they will find difficult and perhaps even impossible to repay, they are saying several things at once. They are obviously saying that they want more than they can immediately afford. They are saying, less obviously, that their present wants are so important that, to satisfy them, it is worth some future difficulty. But in making that bargain they are implying that when the future difficulty arrives, they'll figure it out. They don't always do that."
- Michael Lewis, "Boomerang"

No comments:

Post a Comment