Sorry Jim, no specific references come to mind. However, if you are of a
similar age to me, you must remember that at one time you needed 25% down to
get a mortage. Now, you can borrow your down payment on a credit card and
you need 5% or in some cases less. These changes have come about in less
than 40 years. Something is definetly not right, either this is the way it
should be or that is the way it should be but both conditions cannot
co-exist.
Respectfully,
Thomas Lunde
----------
>From: Jim Dator <[EMAIL PROTECTED]>
>To: Thomas Lunde <[EMAIL PROTECTED]>
>Subject: Re: Created Unequal by James Galbraith
>Date: Mon, May 31, 1999, 7:28 PM
>
> Thank you very much for that explanation. It was not clear to me from what
> you originally sent that this was so, but now I see it could not have been
> otherwise.
>
> I will definitely have to get the book to read more now.
>
> Do you (or anyone else on this list) have additional sources to recommend
> about the role of consumer credit in both fueling the current economy, and
> skewing it in the way Galbraith/Lunde demonstrate? I, too, feel this is
> the big dark secret that is never discussed in these terms (to my
> knowledge) in the general press, or politics.
>
>
>
