I came from a state where 35 percent self-identify as Tea Partiers, so I'm a bit distorted perhaps in my appreciation for the larger American population.
I just finished a film with Michael Radford called Dancing at the Blue Iguana.
Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.

