[Moneyguy1]

tabs

You mention the credit card. It is indeed a villain in this ongoing play. Those of you who can remember when there were two items bought "on time", a house and a car. Everything else was cash, and people had to think long and hard before making non essential purchases. Sure, there might be a big purchse like an engagement ring, but those were usually on what was called "layaway", and payment was complete before the item was actually owned. To those of you too young to have experienced cash transactions, this probably sounds like fantasy. Trust me. It wasn't fantasy. It was a way of life.

Without the easy credit of today, believe it or not, many families survived and even flourished with a single income. Amazing.

Just read some of the posts here and see how many posters are technically overextended, hoping against hope that things will continue to go up and increase their "paper profits". How many here can pay off outstanding obligations (except the mortgage on the principal residence) without selling off a non-money asset or two?

Tabs, you are indeed correct in your last paragraph. The Romans called it "Bread and Circuses". Keep the people dumb, fat and happy, distracting them of what is going on around them.