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Americans are increasingly foolish with debt

By golfplan18   2013 May 1, 11:47pm   ↑ like (1)   ↓ dislike   642 views   2 comments   watch (1)   share   quote  

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   2013 May 2, 1:07am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

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

2   ttsmyf   2013 May 2, 1:40am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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

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