Re: Bankruptcy Filings Rise

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On 4/02/06, v wrote:
> rrr: You forgot te rest of the
> sqeeze play, credit card minimum
> payments have doubled by law. Since
> gas prices have more then double,
> and add to that riseing taxes.
> Pretty soon there will be alot of
> people forced to throw in the towel.
> Most household planners can plan for
> contigency expenese, it's the added
> unexspected costs of living that
> will push most people over the edge.
> The people who are on the edge now.
> Have nowhere to go but down, with
> the rest of the economey.

Also, don't forget, rising health insurance premiums and health care costs in
addition to higher prices for natural gas.

"The people who are on the edge now have nowhere to go but down with the rest of
the economy."

As I'm fond of saying, "Bankruptcy is the future of the American middle class."
As middle class jobs that require college education are either sent overseas or
filled with foreign workers on H-1B or L-1 visas, more and more college educated
Americans will discover that the economy only has room for them as either working
poor or lower middle class, including Americans who already have significant
financial obligations. Of course, we're also continuing to shed lower middle
class blue collar jobs with many of those jobs going to illegals (construction and
meat packing come to mind).

Of course, our politicians will just continue to offer Americans education as the
solution to our problems. Americans just gobble it right up; it's the opiate of
the masses. Perhaps one day our fellow citizens will discover that education is
not a replacement for sound economic policy. Alternatively, our society could
follow the path of "The Marching Morons" (do a Wikipedia search).

Regardless, as the middle class slowly disintegrates and goes bankrupt, presumably
some work will come available. Of course, once we've lost the middle class and
the lower middle class we'll all be out of work for lack of paying clients.