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|User Info||Goal: Live mortgage/rent free. Best way how?; entered at 2011-12-16 08:23:40|
Registered: 2007-06-26 Pa.
It's true that asset prices will fall further, and they will be a shadow of what they are today in the Blue cities/towns that are today flush with Obamabucks. Many areas have already had housing prices collapse. If you don't live in one of those, you're living in the land of the massive O Bubble.|
But I don't think the debt demon will have much bite during or after a collapse. Who's is going to collect on credit card debt in that scenario? No one. Will a government that demands those young people with massive student loans pay them back get any traction post-collapse? No.
A reset will reset the debt levels of citizens. And we WILL be citizens again, not just 'consumers'.