Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: EL KABONG!!! who wrote (40781)	11/4/2003 6:57:02 AM
From: Snowshoe	Read Replies (2) of 74559

Kerry, I've been thinking about this article and how to respond. Mike Norman used it to support his thesis that paying down the national debt is bad. Based on my own personal experience with college loans, car loans, and real estate loans, I have to agree that paying off a debt really sucks! However, I guess I've learned a different lesson from this experience. I try to avoid debt! My house and car are paid for, and I have no debt. I'm sure Mike Norman has a much better house and car, paid for with the borrowed money that he loves so much. But I don't have to worry about being overextended, and I can take time off from my business when I feel like it. The basic rule is the same for individuals and nations: If you don't borrow the money in the first place, you don't have to pay it back! -Snowshoe

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