2007-08-15

economic liability / guillotine

Apparently self-storage is a multi-billion dollar industry in the US. If I understand correctly, people are paying to store stuff that was replaced by new stuff bought, with maxed out credit cards...

I dunno, but I figure that not too far from now, when banks start threatening to repossess mortgage collateral, we're gonna start seeing a lot of this junk (new and old) hit the second-hand market all at once. I'm glad I'm not in that situation because I suspect a lot of them are gonna find themselves even deeper have-nots than they are trying so hard to avoid admitting today... If I still have a job by then and civil unrest doesn't loom too close to my home, I might go on a buying spree. Either that or I'll establish a security guard and compound business! :)

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