Wednesday, June 06, 2007

House-keeping

“The cost of living continues to outstrip growth in pay, household finances are being squeezed and there is an increasing reliance on the equity in property values to support consumer spending habits.” according to The Financial Times

In other words , we earn less and are having to borrow more to make ends meet .

1 comment:

Ellen said...

i.e. we are second-mortgaging the house to buy more plastic shit from China

yup, that's a pretty good description of the USA right there