What do you think will happen to our economy?

Many people were living well beyond their means before high gas and food prices, with monumental debt loads on homes, vehicles and on credit cards. A good part of the increase in foreclosures came because people were borrowing against the equity they had in their home to buy other things or to make up the difference in income and expenses as the prices went up. Having used up that option, many are now turning to their credit cards to make up that difference, and those debts are climbing even higher. Other options that people are using are payday loans and vehicle title loans that charge outrageous interest for short term loans. Otherwise, they must resort to selling their homes, vehicles, or personal items - a hard thing to do when most other people are facing the same situation. You would think the breaking point would have already come, - I think that with each month that passes - but nothing has opened the eyes of our representatives, congressmen, or our president. I'm afraid it will take major corporations losing major money before anyone will take notice, and then their attention will be directed to the wealthy.

The rich become richer and everyone just tries to get by. We are far from being run off the map however we are not the Super Power we once were. We were arrogant and other countries worked harder and for less and took advantage of Americans belief of entitlement. America was built on capitalism, making money. You only make money if you take it or get it from someone else. Our rich have their money, everyone else is forced to give theirs up just to survive. Unfortunately we are giving most of it to China and other countries.

It's scary to think what may happen....and it seems like everything you mentioned as well as other things will lead us down that path. Even if you just look at people's attitudes now days to others in need....or to others in general. It is always about themselves...and the scary thing is these people have children and passing this attitude on. That is an interesting quote and it does have a ring of truth to it. Which is why I realize I need to start educating myself on facts..... as for the breaking point....who knows. And we will rech a point for action and change...although I hope that change will lead in the proper direction...and not just be smoke and mirrors. Time will tell