3 ms·
Everyone, every entity, loaded up on credit. It's really astounding. You go overseas and realize it's not normal. It's very distorting to the economy as well as
by cylinder 10y ago
Everyone, every entity, loaded up on credit. It's really astounding. You go overseas and realize it's not normal. It's very distorting to the economy as well as so many organizations can stay in business with credit
- tracker1 10y agoVery true... other than a house, before the 1950's most people didn't buy much of anything on credit if it could be avoided. Unfortunately, credit/loans distort pricing/value and drive prices up until it becomes difficult without credit. The sad thing to me the past few years has been food pricing... it just seems to be several times what it was even a decade ago, and very little reason behind it from a production standpoint. It feels like I don't really save any money when I cook, though the food is usually better, and I do get more portions (portion control is actually harder though).