“One of the results of the credit explosion is that it makes it hard to
tell who is rich and who is not. People can live as though they had money,
even when they have none. Which puts a strain on the whole system of envy.
A man tries to keep up with the Joneses…who may be only trying to keep
up with him. Neither may realize that the other has no money. Both go into
debt chasing a mirage.”
Daily Reckoning 2/5/2007