Karl Denninger posted this one over at Market Ticker and I had to pass it on to our readers. There are several SHTF Plan readers that are also staging a debtor’s revolt by halting payments on credit cards, mortgages, and even hospital bills. Consumers are strapped and they have to conserve whatever cash they can. And hey, even if you do default, pretty much the worst case scenario is a ding to your credit report for seven years and then you’re good to go — right around the time we might actually start seeing some improvement in the economy.
It Took 22 Years to Get to This Point
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“Stick that in your bailout pipe and smoke it!”
Love it.