Friday, October 10, 2008

What’s in your wallet?

Let me see if I’ve got this straight.

We’re on the brink of a financial Apocalypse because greedy Wall Street suits handed out so much bad credit … and our only salvation is to pump billions into the credit markets so the suits can start handing out credit again.


I’m going to do my patriotic part by running up the credit card at 28 percent interest.

Then I’m going to get one of those adjustable rate mortgages and put the family upside down in our payments.

Will the bank give you a home improvement loan, a vacation loan and a cereal malt beverage loan if you’re not making your monthly house payments?

If so, I’m gonna get me some of those too.

After all, the administration has set the example for borrowing – the national debt now tops $10 trillion, up from $5.7 trillion eight years ago.

That means I – and every other man, woman and child in this country – already owe $33,000, just to pay off the national debt.

China alone has underwritten $500 billion of our debt and unless they pull the ‘nuclear option’ (dumping those US treasury notes) they’ll probably lend us more.

So what’s a little more personal debt, eh?

I say let’s loosen up those credit markets at any cost – and let the good times roll!