As incomes stagnate and prices rise, a growing number of Americans face a tough choice: either descend a couple of rungs on the lifestyle ladder or borrow to keep it together. Many are apparently choosing door number two. From MarketWatch: Americans are getting into debt to afford food, gasNowhere has the unequal nature of the […]
Debt Makes You Dumb, Japanese Edition
Debt works the same way for countries as for families and individuals. That is, if you borrow too much, your life begins to suck. And actions that in normal times might have seemed unwise, contradictory or downright stupid begin to look better than the (even more disturbing) alternatives. Pretend, for example, that you are Japan. […]