Are we are our own worst enemy? Do we live beyond our means? Look at us dumb ugly lazy Americans?
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However, what was shocking to me was the number of people who are making great salaries but have little to NO savings, (perhaps a small 401K that they had borrowed from!) home equity loans, car loans, multiple maxed out credit cards and living what they consider "the good life". I have no sympathy for those type of pompous fools. We have allowed these people to fester in our society.
We used to be a society based on frugality, hard work, savings, and personal responsibility. But apparently there is a contingent of people for which not just "keeping up with the Jone's" but living better than them and rubbing it in their faces has become their mantra. Pathetic really. Unfortunately, in this economy those people will be getting their "come-up-ins" but the cost is not simply to them but to our entire economy.
Are we are our own worst enemy? Do we live beyond our means? Look at us dumb ugly lazy Americans?The problem I have ,is that alot of borrowers who qualified for conventional loans, were given subprime rates on their loans.
Thats just greed, plain and simple.
Are we are our own worst enemy? Do we live beyond our means? Look at us dumb ugly lazy Americans?Sorry I'm not with you on this one. You're buying the propaganda or you like to beat yourself up. I've lived in other countries--the USA is better, with all its faults.
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