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Americans are increasingly foolish with debt


By golfplan18   Follow   Thu, 2 May 2013, 6:47am   263 views   2 comments
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http://ochousingnews.com/news/americans-are-increasingly-foolish-with-debt?source=Patrick.net

After 30 years of falling interest rates, Americans have become addicted to cheap credit and personal Ponzi schemes. People have learned they can take on large debts, consolidate them at lower and lower interest rates, and service that debt with a portion of their income. It’s a bit like learning to live with a lamprey slowly sucking your financial juices. Often it’s not enough to kill, so it’s a parasite people learn to live with. Oftentimes when people get in trouble with debt, they stop using it. As Jesus would say, “sin no more.” Through falling interest rates, loan consolidations,...

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  1. everything


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    1   8:07am Thu 2 May 2013   Share   Quote   Permalink   Like (1)   Dislike  

    Yeah, but lol, just look at the government, they are just following suit.

  2. ttsmyf


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    2   8:40am Thu 2 May 2013   Share   Quote   Permalink   Like   Dislike   Protected  

    Look at the last chart here
    http://patrick.net/forum/?p=1223928
    Collectively, we have been/are severely DRUNK.

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