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Americans now $1 Trillion in credit card debt.........
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<blockquote data-quote="Caustic Burno" data-source="post: 1477505" data-attributes="member: 694"><p>This is our own fault for letting people get their debt to earning ratio upside down.</p><p>Good credit,bad or none come on down we will sell you a house or a car etc.</p><p>See how well that worked for housing went through the same thing in the 70's on land through the S&L fiasco.</p><p>All debt has to be serviced sooner or later.</p><p>Went and heard a leading economist talk one time, he stated take away everyone's money. Then give them all 1k each, Bill Gates would still be where he is at and the guy sleeping under the overpass still there.</p><p>It's not about what you make but how</p><p>you manage it.</p></blockquote><p></p>
[QUOTE="Caustic Burno, post: 1477505, member: 694"] This is our own fault for letting people get their debt to earning ratio upside down. Good credit,bad or none come on down we will sell you a house or a car etc. See how well that worked for housing went through the same thing in the 70’s on land through the S&L fiasco. All debt has to be serviced sooner or later. Went and heard a leading economist talk one time, he stated take away everyone’s money. Then give them all 1k each, Bill Gates would still be where he is at and the guy sleeping under the overpass still there. It’s not about what you make but how you manage it. [/QUOTE]
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Americans now $1 Trillion in credit card debt.........
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