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Given a Shovel, Americans Dig Deeper Into Debt
- davidw 18y agoAnd now these articles are starting to come thick and fast.
- steveplace 18y agoIt's OK. The shovel I bought was a deal. I got no money down and no payments for 12 months.
- ninguem1 18y agoIs the lady portrayed in this article supposed to be the average American or an extreme case of cluelessness? I don't know anybody who is in such a hole (or at least admits to).
- yummyfajitas 18y agoI have. They are the same people who read The Secret (power of wishful thinking) (http://www.thesecret.tv/ http://www.thesecret.tv/), believe in astrology and faith healing, but don't believe in the moon landing. They are out there, and there are more of them than you think.
- jrockway 18y agoAccording to their debt calculator widget beside the article, if you have no debt, that's the same as 24% of families. So while "the average American" may have a lot of debt, a quarter of us have none at all. (However, I'm not sure if that number includes all debt, or just credit-card debt.)
- noonespecial 18y agoGo to 7-11. You'll find plenty of them waiting in line for "powerball" tickets.
- anotherguy 18y ago27.7% interest rates. Holy shit :-) But that's america I guess. The richer get richer by exploiting the poor. There should be laws on the maximal interest rate!
- fallentimes 18y agoNot true at all; wealth is not zero sum. Additionally, there should never be caps on interest rate as long as the lenders are _forward_ about their effective rates. High risk people should always have to pay higher rates, otherwise no one would lend to them in the long-term.
- jrockway 18y agoThere should be laws on the maximal interest rate! There are; here's a google result that may be helpful: http://www.lectlaw.com/files/ban02.htm http://www.lectlaw.com/files/ban02.htm