How People are Spending Their Home Equity

So I went to a Home Goods store with my wife and mother-in-law for no good reason and was blown away by the amount of CRAP in there.  I mean there is stuff everywhere of exceptionally questionable value.  The aisles were packed with people piling this stuff up in to their carts; and I didn’t see too many people paying with cash at the register.  I walked out disgusted.  I thought of the millions of dollars in refinanced equity cashed-out and spent on this exact stuff; with millions of homes going in to foreclosure because of unsustainable debt.  And for what?  This junk!  It makes me sick to my stomach.  How long until these firms start posting massive losses due to the lack of consumer spending power that’s been fueled by these last few years?

Last 3 posts by Morgan

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