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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (91144)	10/2/2007 6:28:15 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

You can assume that families living their entire lives paying interest on credit card debt is "necessary to remain competitive". Why? Because its seems to be the most common practice. Alternately, you could assume that financial irresponsibility, while not necessary to remaining competitive, is merely popular for painfully obvious reasons. This would be my interpretation. Likewise I understand the obvious appeal of economic irresponsibility and why its so universally popular. But I also know that that economic irresponsibility is very costly and results in painful circumstances. Devaluing the currency on an ongoing basis imposes huge costs on the economy. Its just like a debt addict spending borrowed money. Spending the "free money" gives them an electric rush - they feel very competitive like they could take on the world. That is until no more credit is available and the bills come due. Then they don't feel very competitive at all. I think you would greatly benefit from taking several years of classes in economics. You seem interested in the subject but are lacking even the basics. .