This guy is cherry picking stats and quotes to back his argument, the same article that he quoted as showing that credit card borrowing was up also stated:
"Credit card usage has fallen sharply since the 2008 credit crisis. Four years ago, Americans had $1.03 trillion in credit card debt, an all-time high. In October, that figure was 17 percent lower."
This guy should live in rural Afghanistan or Sudan and have warlords dictate his fate instead of a government.
He had almost lost me until the section "people buying things they don't need with money they don't have" and the prime example was "education" - then he really lost me.
Some truther joy from the same site. Great post, nekojima!
You're welcome. I saw the original post more for entertainment value, with perhaps some good criticism of it from HN'ers. I hadn't seen this posting, rather nutty & unhinged.
A stirring manifesto; right up there with Luther's theses, or Marx & Engels.