Submitted by Tyler Durden on 10/22/2014 18:24 -0400
Federal Reserve Bank
Federal Reserve Bank Of Boston
Real Interest Rates
Submitted by Chris Martenson via Peak Prosperity,
There's something we 'regular' citizens wrestle with that the elites never seem to: a sense of moral duty.
For example, following the collapse of the housing bubble, many people struggled with mortgages they could no longer afford to pay, fearing the shame of default. Many believed defaulting was wrong somehow; that it was their moral obligation to pay their mortgages, no matter how dire their personal situation. And of course, the mortgages lenders did their utmost to reinforce this perception.
In a perfect world, we would honor our debts and obligations, every one of us. But the world is an imperfect place ,and moral obligation is something that almost never enters into the decision matrix of our society's richest. Or the banking industry.
For them, the number one (and two, and three...) rule is that whatever is expedient and makes the most money is the right thing to do.
For the bottom 99%, it’s like playing with a stricter set of rules than your opponent: you’re not allowed to hit below the belt, and they’ve brought a baseball bat into the ring.
Note how this guy had to fight through his middle class conditioning before coming to a sense of peace over his decision to enter into a short sale on his house: