Lost in translation. The debt have to a standard will be a lot lost in
translation, no matter what ya do to protect. Who makes the laws for. Hint, not
the common people.
" It’s a sad fact that America seems to increasingly depend on
unhealthy consumer debt and frivolous consumerism to fuel its economic
motor."Seriously? You want a President that promises 4% GDP
growth, an ever increasing population, millions of new jobs, wages based on
supply and demand, and...lower consumer debt. Good luck with that. Frivolous consumerism? Ask the thousands of workers who make and sell
cosmetics if it's frivolous to buy their product. Will it be frivolous if
your son or daughter gets a job with one of the cosmetic companies as a chemist
after college?You can't have it both ways. An expanding
economy, expanding population, and constant "survival" level
consumerism. You can't have an expanding economy, downward
pressure on wages, and "reasonable" consumer credit. Face it
capitalists you really can't have it all. You need to choose....and of
course you have, it's just silly to post the problem this article does.
Debt is money, without debt there would not be any money. Granted you can
certainly over leverage and I think that is the true intent of this editorial
but there will never be a debt free america either public or private without
changing the monetary system.
Good credit? Bad credit? No credit? You deserve a new car!I think money
and poor loans are way too easy to get, and that is the problem.