Various D-words All in Tandem

The New York Times reports: When Debtors Decide to Default.

Melissa Birks is being stalked. Her cellphone keeps ringing, always from a caller marked “unknown.” She says she knows it is her credit card company wondering why she stopped making payments. Ms. Birks, who owes $28,830, has nothing to say.

Those on the front lines of the debt industry say there is a small but increasingly noticeable group of strapped consumers who, like Ms. Birks, are deciding they will simply stop paying. After loading up on debt eagerly provided by the card companies during the boom times, these people now find themselves trapped in an endless cycle where they are charged interest on interest and fees upon fees while the lenders get government bailouts.

The lending industry term for these people is “ruthless defaulters.” In a miserable economy where paychecks, savings and expectations are all diminished, their numbers will surely grow.

DUHHHHHHHHHHH!!!

They should default. It's the only rational solution for them and their personal finances. Creative default is the name of the game in the US bubble economy and they should do their bit.

Oh, and surely all of y'all realize that default = deflation, right?