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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (98335)	6/5/2009 2:22:30 AM
From: Broken_Clock	3 Recommendations Respond to of 116555

Mish Nice reply. Some additional thoughts. Many are finally seeing the light and walking away. As a moral dilemma, one aspect that some consider(myself as well), is that the bandits at the top are still unfettered in their thievery and are ecstatic that many homeowners continue to scrape every dime together in order to 'do the right thing'. Sounds like a double standard to me. Like the TV preacher that has a private jet and encourages the poor widow to give, give, give. You say there is no debtor's prison but there is. "The borrower is slave to the lender" according to Solomon in the Proverbs. Who needs a good credit report in the larger scheme of things? I think that is a big lie. A good credit report opens the gates to debt slavery. Bottom line, I believe one should keep ones word, what I do i take responsibility for. But for many, I would say walk away as quickly as you can and start over and live a life w/o debt. Much easier to live within ones means and not fall prey top the big lie of the amorphous "American Dream".