In my opinion, for the past decade or so we have been fooled by an invisible inflation. It is invisble because the real cost of living was absorbed by the vast amount of credit people took out. The average personal debt is 17K. Without this credit we would have felt the real cost of living years back. This has kept inflation down at the expense of citizens. People were using credit cards not to buy luxury goods but to pay bills and buy food. Government should never have allowed this to happen. Millions of people are going to slowly sink into poverty if something is not done. I seem to remember usary (charging interest on a loan) being one of the worst sins in the Bible yet for the past two centuries the West has forgotten this. Anyway today, I find myself having a new bank, I wonder what the logo will be? Howard riding a horse?
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