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[Lynn Wigglesworth <lynnw1366 AT hotmail.com>]

Bob; I think that's a 'new' version of the American Dream. My parents 
grew up in the depression. They had a small mortgage on their first 
house, and scrimped to pay it off in a couple of years. It was the only 
debt they ever incurred. They built their second house over 3 years, as 
they got the money. They NEVER owned a new car, they bought what they 
could afford. They wouldn't even USE a credit card. The world operates 
just fine for people who don't use credit. Maybe a system built on debt 
is wrong and essentially unstable; maybe it needs to be based on 
something with real value.

The idea of financing everything so you can live above your means is, I 
think, a new-age idea, and clearly can get people in over their heads.

Lynn Wigglesworth


bob ford wrote:
> That is something else I don't know how to answer.  If we had no debt (used 
> no credit) there would be no money.  Our economic system is built on debt.  
> 
> I don't know about where you are from in Wisconsin or how it is in 
> Missouri.  But, in alot of places, a man graduates high school, and , if he 
> doesn't go to college, he trys to get a good job.  He borrows to buy a car 
> to go to work.  
> 
> He meets a girl, gets married and they borrow to buy a house.  Those are 
> the two largest expenditures in most people's lives; and for most people, 
> just those two things keep them in debt for most of thweir lives. And that 
> doesn't include the debt from raising children, their college, doc bills , 
> etc. 
> 
> If the young man went to college, it would only be slightly differnt.  He 
> might have a better paying job and marry a couple of years later, but still 
> living in debt pretty much for ever. 
> 
>  That is the system, and it isn't right when people who played by the rules 
> of that system are screwd over by people who cheated   ....bobford
> 
> 
> --- On Thu, 10/16/08, Gene GeRue  wrote:
> 
>> From: Gene GeRue 
> 
>> If all of us refuse to borrow money, then there will be no
>> money  
>> lenders. What odds would you give?
> 
> 
>       
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