Author Topic: Debt inequality is the new income inequality  (Read 2816 times)

MrSaturday

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Debt inequality is the new income inequality
« on: May 02, 2012, 02:35:45 PM »
From CNN Money: THE 95% GO DEEPER IN DEBT

So many cringe-worthy quotes.  Here's a sample (emphasis mine):

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The rich are getting richer, and everyone else is going deeper into debt trying to keep up.
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As their wages dropped, some Americans were forced to take on more debt just to stay in place...
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"The only way they could continue to purchase what they need was to go deeper into debt."
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While Americans have been shedding their debt since the Great Recession, it's come largely through foreclosure or bankruptcy.