America really need to have an intervention when it comes to debt. The American way of financing of everything, maxing out of credit cards & putting down 0% of a house is not healthy or sustainable financial behavior.

People are so accustomed to being indebted that they can’t imagine a world where they may have to cut back on spending or consumption habits to mitigate the cost of debt on their life.

It’s gonna be like sending a junkie to rehab. The average American will have consumption withdrawals, and will probably OD on debt (I.e. foreclosures & bankruptcy), if they don’t cut this shit out, now.

Believe it or not, the Fed has to raise interest rates to prevent the economy from collapsing. This is 100% necessary. People getting angry about this are like petulant children who are mad at their parents that they can’t eat cake for breakfast, lunch & dinner.