John, many thanks for the detailed explanation.... while deregulation along with the introduction of credit card usage across the population, extended payment plans, and interest rate manipulation sped up the exponential rise on rotational speed of the moneygoround, it also greatly increased expectations of the general populace over decades, based on the exponential growth in debt, to the extent that those expectations can no longer be paid for...... A true example of a false economy.... A bit of a contradiction within a 7 word sentence....? (-:
I guess someone has to pay for whatever services we might depend upon, and if we have any nest eggs, set aside for nursing home fees etc.etc.etc.... My guess is they will be raided by the govt in a wide variety of ways...,
I suspect it is a difficult task for any government to try to balance the books and be voted back in, leaving us all exposed to the populists...
It seems we do indeed live in interesting times..
