On Mon, Feb 4, 2013 at 3:26 PM, Chris Zell <chrisz...@wetmtv.com> wrote:
** > Rich nations can afford......... No, they can't. That's the point. Their > populations are suffering and it's going to get much worse. Nor do > developing nations operate in a vacuum as markets are now more tightly > correlated than ever, contrary to many predictions. > This is the same rationale that poor people use to take out high-interest loans; to buy items at the store in tiny quantities, which ends up costing more overall; or to forgo car insurance, hoping they won't get caught -- they cannot obtain a mortgage that is not on usurious terms, and it is hard to justify a big expenditure on bulk items when you're living from paycheck to paycheck. In the end, you have to have money to save money, and you have to be willing to spend it up front, rather than backload all of your expenditures until the time that disaster strikes. Eric
