Banks?..dealt with.../ Housing?.. dealt with..and then what?

[SoCalDem]

Here's what...

There will still be nearly TWO TRILLION owed by individual Americans via revolving credit/ credit cards/ auto loans..

"Bailing out" 2/3 of the problem, does not actually change much.

In an economy like ours has been for DECADES, the ability to BUY STUFF, is what has kept the plates spinning. I think that all these people who owe a shitload of money, have had a crushing wake-up call, and if they have not already slowed down the spending, many will soon be forced to quit shopping, as their jobs fade away or the fear of losing the job engulfs them, or as the beleaguered banks finally cut their credit limits or cancel their credit.

Credit is all about faith.. faith from the lender that you will pay it back....faith from the lendee, that they CAN pay it back..

These days no one has much faith in anything, anymore.

But the fact remains.. When all the dust has settled , and the legislators pat each other on the back, and the banks go back to giving each other big bonuses, the "average American" will still be getting those Visa & Master Card statements every month for food they ate years ago, and for bicycles their college-aged kids rode in the 5th grade, and for the AC repair at a house they lost 2 years ago..