I don't know what is more outrageous, this ridiculous headline and article from Reuters about Russian credit card debt, or that they closed the comments section the same day the article was posted, and with no comments.
Are you kidding me, "can easily afford to double their consumer debt"???
Well of course household debt is easily manageable for the "vast majority" of Russians. It doesn't take the vast majority of consumers in any country to drive the economy into the tank. Perhaps as little as 20% to 25% of the country not being able to afford their present debts can over time create an economic "death spiral" for the entire country.
Well of course household debt is easily manageable for the "vast majority" of Russians. It doesn't take the vast majority of consumers in any country to drive the economy into the tank. Perhaps as little as 20% to 25% of the country not being able to afford their present debts can over time create an economic "death spiral" for the entire country.
It is sad that governments think they must have ample consumer debt to have a thriving economy, perhaps sad is too soft of a word.
Hi, Your comments matter greatly. If you post anonymously it helps if you briefly explain how your prior experiences relate to the comment you are leaving. Please no link ads unless you contact me first.
No comments:
Post a Comment
Hi, Your comments matter greatly. If you post anonymously it helps if you briefly explain how your prior experiences relate to the comment you are leaving. Please no link ads unless you contact me first.