Debt

[elcaBob]

I got this in an email tonight. Interesting.


Did you know that among advanced economies, only Greece, Iceland, Ireland, Italy, Japan and Portugal have more debt than they produce in a year? Until last month, that is. You can now add the USA to that list. If that doesn’t concern you, consider what has been happening in Greece, Ireland, Portugal and Italy. The first three required bailouts; Italy and Portugal are next. There is nobody to bail out America. Take a look at the National Debt Clock to get a better feel for the magnitude of the problem.

 

[doctorjj]

Japan has managed to survive with debt at 200+% of GDP. Is debt a problem for the US? Absolutely. We really need to get it in check or it will be the millstone around our neck. The issue I see is not the debt itself, but the lack of political willpower it will take to make any substantive changes.

 

[alizianL]

One of the reason why many of us are going through debt problems is because we don't understand the nature of debt, it is important to understand the debt cycle. The debt cycle starts when you begin to outspend your income for one of many different reasons-ignorance, carelessness, compulsiveness, pride, or necessity. You know it's wrong, but you do it anyway, telling yourself “It's just this once.” Just as people are beginning to get even more irritated about the supposed “cycle of debt” that payday cash advances create, a brand new study was released by Arkansas Tech University Professor Marc Anthony Fusaro. In his research, he learned that the “cycle of debt” is not produced with high interest rates. This is just a little bit of proof that payday cash advances are a reputable product for people in crisis situations. Find out more at: Payday Loan. This debt cycle can continue for only so long. Soon, you can't get any more credit, and just the interest becomes more than you can pay each month. You have lost your money, your sense of self-worth, and your good credit history.

 

[RickN]

Interesting in that the last couple of years the American public is starting to pay off it's debt while the government is sinking lower and lower.