theblueenigma
22 Oct 2008
News / POLAND'S CREDIT CRAZE [34]
The Irish were much more conservative with their money also. Then suddenly our economy improved, more credit was available to us. We convinced ourselves we were rich because of the incredible rising values of our homes. Now we are the most in debt people in the world to banks, credit companies, finance arrangements etc and to make it worse we are in a recession. Poland is the new Ireland, once banks start throwing money at people . . . . its all downhill.
The Irish were much more conservative with their money also. Then suddenly our economy improved, more credit was available to us. We convinced ourselves we were rich because of the incredible rising values of our homes. Now we are the most in debt people in the world to banks, credit companies, finance arrangements etc and to make it worse we are in a recession. Poland is the new Ireland, once banks start throwing money at people . . . . its all downhill.