Monday, September 29, 2008

time to buy furniture

this is what Russians (who have watched their currency turn into confetti more than once) do when they think things are about to get much much worse.

the big difference between Russians and USAians, though, is that they have a positive savings rate while we have ever-increasing debt at all levels of society. so, they have cash to exchange for furniture, while we have a total debt burden that is many many times larger than our annual income.

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