posted on Aug, 18 2007 @ 01:07 PM
Originally posted by SmokeyJo
Are you suggesting a Intrest rate rise, or the Dow Jones crashing would help the US military?
no, not in a direct way....but a family strapped with debt and a home months from forclosure,
in-other-words in a disasterious situation,
might have an emergency family discussion
and an option might be for the youthful son or daughter to sign up for a 6 year hitch & send money support home.
sounds like a script for a 'Lifetime' channel TV drama...
the DOW index, or the NYSE markets would have little to nil impact on
the average poor-middle class families.
the Fed prime rate might have an impact though, as many families may have gotten caught into one of those
sub-prime ARM mortgages that re-adjust as the Prime Rate moves up or down. Holding the potential that their house will get foreclosed or repossessed
if payments fallbehind.
but i do see credit getting real tight & stringent - - as in credit cards being cancelled by the lenders & leaving the money starved card holders
standing with empty pockets & their utilities cut-off because they could not borrow on ther MC or Visa cards any longer.
i can hear the message now, as the family members confer at the family kitchen table....
Son, stand up and be a man, take a tour of duty in the service---send home a couple hundred a month to save the house & family-- you'll be earning
college money along the way thru the Army programs, -- you'll be learning a skill also... Let's Roll !!
that is the essence of a Economic Conscript