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Interesting read. I wonder what the author thinks of personal debt. From where I'm sitting it seems like massive amounts of personal debt are the problem. I don
by tseabrooks 16y ago
Interesting read. I wonder what the author thinks of personal debt. From where I'm sitting it seems like massive amounts of personal debt are the problem. I don't think my grandma had any credit cards a car payment or a mortgage costing her about a third of her take home pay.
Hard to come out on top when you are spending 5 - 30% more for an item than inflation says you should thanks to interest.
- allenp 16y agoThis is an interesting point - I wonder how debt also impacts individual risk aversion and wealth accumulation and if these effects can be seen (measured) in the post-mid-century US.
- lsc 16y agoI would assume that debit would encourage risk-seeking behaviour. But, outside of real estate speculation, which, until recently has been seen as not very risky at all, I haven't seen it.