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> The entire ponzi scheme debt / consume cycle is a trap. I'd append that to be an increasingly inescapable trap. Debt is needed to raise credit scores and h
by WarOnPrivacy 2y ago
> The entire ponzi scheme debt / consume cycle is a trap.
I'd append that to be an increasingly inescapable trap.
Debt is needed to raise credit scores and high scores are needed for necessary things like housing. It's a brutal lesson for typical-income folks who only spend what they have.
- kerkeslager 2y agoRelevant debt isn't needed to raise credit scores. One can simply play the system with short-term "debt", borrowing only what you can pay off immediately. This isn't meaningfully different from only spending what you have.