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November 02, 2007

Comments

Michael

I think someone should say that easy credit is inflationary, not just easy home mortgages.

These people who cannot manage their money buy things that cannot afford, driving up the prices for everyone else. This do to the retail market what they do to the housing market.

These are the people who pay top dollar for a house, beating out 6 other offers by responsible borrowers who knew when to draw the line. These people overestimate their ability to pay and the appreciation the house will have over the next few years.

This is the reason milk is so expensive in Hawaii: So many people on vacation saying, oh my gosh $12 a gallon for milk? Oh well, I'm on vacation and I'm slpurging. How do normal consumers compete with people on vacation?

Nats Jackson

Michael:
Amen Michael Amen Your described mentality goes from the lowest income group all the way to the governments, both federal and state.

Just because something has a high price on it doesn't mean it's value is anywhere that high. This nation is completely out of control concerning financial responsibility at all levels.

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