9 October 2008

Let's see, we are losing manufacturing to overseas because out costs are too high; our housing costs (CA) are so high the only mortgages people can afford are interest only loans; the salaries of investment bankers (all of them) are so high that it's the only place to go for MBA grads; college degrees leave grads with $20K average in  debt (not the cost of credits, but the cost of living); and the average credit card debt is, what? $10K?  Average?  Give me a break.  And the meltdown is a surprise?

On what planet is it that we live? 

That's without even talking about the ridiculous subprime loans pressured by Congress.  What I can't believe is our naivite.  Or is it just plain ignorance?