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post by
largefreakatzero
at 2011-07-28 16:00:17
Yeah, it's all about living within your means. Of course having a managable debt, whether it be mortgage or a conservative credit card debt is indeed acceptable, and many people need to do that to live and feed their families. But this country is FAR too comfortable with living on credit and continuing to buy bullshit that they can't afford. The financial sector was largely responsible for this before the crash, since institutions were lending money that they did not have (based on derivatives, loans against loans, and other related horseshit) to people who never should have qualified for anything close to what they were approved for. The boil finally burst and now many of us are covered in pus.
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