[lbo-talk] Tithing to the Rich

[Yoshie Furuhashi]

> Yoshie Furuhashi wrote:
>
> >Rick Wolff reminds us, as the bankruptcy reform is about to take
> >effect (on Monday):
> >
> >"For the first quarter of 2005, the Fed announced that the nation's
> >debt service ratio (debt payments as a percentage of after-tax
> >income) was 13.4%, the highest since the Fed began recording this
> >statistic in 1980."
> ><http://mrzine.monthlyreview.org/wolff151005.html>
> >
> >We are more than tithing to the rich.  :-0
>
> Hey it's up to 13.6%
> <http://www.federalreserve.gov/releases/housedebt/default.htm> in the
> second quarter. And that despite interest rates remaining very low.
>
> Doug

I added the second quarter statistic to the article.

Someone -- Wojtek? -- mentioned the evil of MBNA a while ago.  In my  
personal case, the bete noir is Chase (MBNA gave me a better  
settlement than Chase did).

Yoshie Furuhashi
<http://montages.blogspot.com>
<http://monthlyreview.org>
<http://mrzine.org>
* Mahmoud Ahmadinejad: <http://montages.blogspot.com/2005/07/mahmoud- 
ahmadinejads-face.html>;  <http://montages.blogspot.com/2005/07/chvez- 
congratulates-ahmadinejad.html>; <http://montages.blogspot.com/ 
2005/06/iranian-working-class-rejects.html>