Well, one thing ain't changed since my Econ 201 and 202 days and that is ya' can't borrow yer way outta debt...

Debt is debt and that means that, in essence the day youm purchase something on credit, you have inflated it's price... Case in point... $250,000 house purchased for cash will cost you $250,000... But now if you borrow the $250,000 and amortize it over 30 years you will pay close to $700,000 for the same $250,000 house...

One of the things that has brought about this situation is the Bush tax cuts... Yeah, they were supposed to go for building new plants so more people would have jobs but it didn't work out that way... What it did was pump hundreds of billions of dollars into the lending pool...

Like I said, this so called "robust economy" that we've been hearing about was a false robust economy... It has been based on consumption rather than production... And it has caught up to US... We have borrowed aone heck of a lot on money to make it look as if all was well when in fact all hasn't been well... This has been a smoke and mirrors robust economy...

Now the smoke is clearing and we are all getting glimpse of what it's really about...

But the funny (no, not funny at all...) thing is that what we are seeing is a replay of the Reagan years... Borrow, borrow, borrow and borrow some more until the note gets called in... Happened in the 7th year of the Reagan administration and it's happening again...

When will they ever learn???

Bobert