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Only a fool thinks the ability to get a loan is equivalent to living within one’s means
by seibelj 4y ago
Only a fool thinks the ability to get a loan is equivalent to living within one’s means
- jeffbee 4y agoThe United States is not a person and you can't translate folk economics from your kitchen table to the nation.
- seibelj 4y agoThat's what everyone says until the government defaults on its debt. The US is a special case because of our unique situation as the military superpower and reserve currency, but look at Argentina, Venezuela, and the UK for a counterpoint.
- rwmj 4y agoHow do you imagine the US can default on its debt? It borrows in its own money.
- dkjaudyeqooe 4y agoIf you want to moralise, that's your trip, but borrowing power is an objective measure of your financial health.
- lijogdfljk 4y agoI dunno, if you were willing to issue me unlimited borrowing i'm not sure i would care about repayment. Isn't that exactly the reason repayment matters?