In a message dated 3/19/01 11:58:55 PM Eastern Standard Time, jbone@jump.net
writes:
<< It's a bad thing.
It doesn't in any way validate or support progressive tax schemes.
jb >>
it goes to the argument that the market doesn't necessarily settle at a
realistic level of "affordability" and that owners of wealth don't
encessarily bear the brunt of risk, but pass it on down to those who can
least afford it, who therefore indebt themselves to maintain a lifestyle that
decades ago could be had without revolving credit.
you're absolutely right, easy access to credit is the culprit. but it seems
to me that our recent economic growth is built on consumption gone mad.
everyone (but the debtee) profits in the short-term but only a relatively few
get to keep the wealth.
This archive was generated by hypermail 2b29 : Fri Apr 27 2001 - 23:14:27 PDT