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Those are the problems of giving free money, they will give money to people that can't pay it back and will inflationate the cost of services for all, because d
by forgottenpaswrd 14y ago
Those are the problems of giving free money, they will give money to people that can't pay it back and will inflationate the cost of services for all, because demand has been artificially expanded.
The law of unintended consequences. You make something to "help" and you destroy society in the process.
I can't understand that someone who is $55.000 in debt has a SUV, like the woman in the article. I prefer to live poor but free, in fact I had to in the past.
In Spain something similar happened with real state. In the bubble I saw banks giving 300.000 euros to a 18year old with a yet to pay Mercedes at the door. Those people will pay refinancing their debt. This made houses prices to skyrocket. Now this banks needs to be "saved".
- eckyptang 14y agoLiving poor but free summarises my ideals. Ironically, this attitude was brought on by having to pay back student loan in the UK. You don't get debt collection here, but they take 9% of your income until you've paid it off.