A house could easily be replaced by a rented apartment or a mobile home that you could save money for. They could say that people who don't pay their bills on time would find it hard to find an apartment. So, we're just going to have people who have money to pay for rent and are working just live out on the street because they didn't pay their light bill five years ago? Right.

What's wrong with moving closer to work, walking, a bicycle or public transportation?

I happen to think that I shouldn't have to pay for a college education. I think that should paid for with tax dollars.

And do you REALLY need to buy luxury items at the shopping mall?

So you see….we don't need credit to survive. All of this credit was introduced into the economy as a means to help facilitate globalization. The long credit-fueled consumer binge in the United States has helped to give billions of jobs to third world countries, but it has also perpetuated the stagnant wages that has existed in the American economy since the 1970's. We now have people in Walmart making low wages helping to sell items that are made by people…making low wages. You only get what you give. This is the future.

So consumers should stop worrying about the fine china. The Titanic is sinking and it's only a matter of time before the rumors are confirmed. Consumers should stop trying to save their credit record because we're headed for a world where a credit rating is irrelevant.

A house could easily be replaced by a rented apartment or a mobile home that you could save money for. They could say that people who don't pay their bills on time would find it hard to find an apartment. So, we're just going to have people who have money to pay for rent and are working just live out on the street because they didn't pay their light bill five years ago? Right.

What's wrong with moving closer to work, walking, a bicycle or public transportation?

I happen to think that I shouldn't have to pay for a college education. I think that should paid for with tax dollars.

And do you REALLY need to buy luxury items at the shopping mall?

So you see….we don't need credit to survive. All of this credit was introduced into the economy as a means to help facilitate globalization. The long credit-fueled consumer binge in the United States has helped to give billions of jobs to third world countries, but it has also perpetuated the stagnant wages that has existed in the American economy since the 1970's. We now have people in Walmart making low wages helping to sell items that are made by people…making low wages. You only get what you give. This is the future.

So consumers should stop worrying about the fine china. The Titanic is sinking and it's only a matter of time before the rumors are confirmed. Consumers should stop trying to save their credit record because we're headed for a world where a credit rating is irrelevant.

A house could easily be replaced by a rented apartment or a mobile home that you could save money for. They could say that people who don't pay their bills on time would find it hard to find an apartment. So, we're just going to have people who have money to pay for rent and are working just live out on the street because they didn't pay their light bill five years ago? Right.

What's wrong with moving closer to work, walking, a bicycle or public transportation?

I happen to think that I shouldn't have to pay for a college education. I think that should paid for with tax dollars.

And do you REALLY need to buy luxury items at the shopping mall?

So you see….we don't need credit to survive. All of this credit was introduced into the economy as a means to help facilitate globalization. The long credit-fueled consumer binge in the United States has helped to give billions of jobs to third world countries, but it has also perpetuated the stagnant wages that has existed in the American economy since the 1970's. We now have people in Walmart making low wages helping to sell items that are made by people…making low wages. You only get what you give. This is the future.

So consumers should stop worrying about the fine china. The Titanic is sinking and it's only a matter of time before the rumors are confirmed. Consumers should stop trying to save their credit record because we're headed for a world where a credit rating is irrelevant.

So while the UK is flirting with deflation (on the RPI inflation measure only, as this includes the cost of mortages, and they have fallen massively in the last year as Base Rates are now down to 0.5%. CPI inflation is still ABOVE the BoE target of 2%!), I think Ireland maybe in for a severe bout of prolonged deflation. It can do nothing but cut spending, raise taxes and attempt to escape the debt deflation trap the hard way.

The UK on the other hand is printing money like no tomorrow and borrowing money with no obvious way of repaying it. The most likely result will be inflation, culminating in a bond strike, currency collapse, and possibly hyperinflation.