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View Diary: Krugman: "The Urge to Purge" (62 comments)

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  •  last time I checked, banks making big profits (9+ / 0-)

    from the credit card business, where interest rates and fees are not negligible

    "We didn't set out to save the world; we set out to wonder how other people are doing and to reflect on how our actions affect other people's hearts." - Pema Chodron

    by teacherken on Fri Apr 05, 2013 at 04:26:45 AM PDT

    [ Parent ]

    •  Here's a link you might like. (6+ / 0-)

      http://www.federalreserve.gov/...

      You'll note that revolving credit continues to shrink. Consumers are pissed.

      I love that our individual and household debts are referred to as "Consumer Credit Outstanding."
      It's no wonder ordinary folk do not know whether they are coming or going.

      The problem that instinct-driven people have is that they are intimidated by the idea of owing anyone anything -- for the simple reason that they know from experience that they can't deliver. Think of the student whose homework is always below par. Eventually, it doesn't show up because the dog ate it. If the student cuts up in class, it's to distract the teacher from asking questions he can't answer. Our instinct-driven verbally adept politicians do the same thing.

      We organize governments to deliver services and prevent abuse.

      by hannah on Fri Apr 05, 2013 at 05:27:36 AM PDT

      [ Parent ]

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