Americans are increasingly foolish with debt

By golfplan18   Follow   Wed, 1 May 2013, 11:47pm PDT   453 views   2 comments   Watch (1)   Share   Quote   Permalink   Like (1)   Dislike

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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everything   befriend   ignore   Thu, 2 May 2013, 1:07am PDT   Share   Quote   Like (1)   Dislike     Comment 1

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

ttsmyf   befriend   ignore   Thu, 2 May 2013, 1:40am PDT   Share   Quote   Like   Dislike     Comment 2

Look at the last chart here
Collectively, we have been/are severely DRUNK.

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