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Well... CR@P!!!Looks like the bulk of the "deleveraging" that has been going on hasn't been due to folks being more responsible and actually paying off debt--the lion's share of them have actually been charging up their available credit up to the max and then taking bankruptcy involuntarily (credit literally cut off). Now that's the purest example of the "entitlement mentality" at work.http://www.zerohedge.com/article/debunking-great-myth-us-consumer-deleveraging-or-why-us-economy-will-end-not-whimper-bang
Well... CR@P!!!
Looks like the bulk of the "deleveraging" that has been going on hasn't been due to folks being more responsible and actually paying off debt--the lion's share of them have actually been charging up their available credit up to the max and then taking bankruptcy involuntarily (credit literally cut off). Now that's the purest example of the "entitlement mentality" at work.
http://www.zerohedge.com/article/debunking-great-myth-us-consumer-deleveraging-or-why-us-economy-will-end-not-whimper-bang
