All Economics... All The Time
Would the USA have wound up in this crisis if credit issuance were tied to individuals visa length? i.e. If one has a ten year visa then one could obtain a nine year loan.
We live in a "Free World," yet we let bad credit and loans hold us down. If people would learn to maybe put aside a few dollars in a Mutual Fund or start a Roth IRA, they could afford more things later on in their lives when they need to retire and need it the most. Using a credit card to impulse buy or to buy every day items ends up putting you more in debt. By spending money you don't have makes you end up paying for expensive interest fees.If Americans knew how to use credit the proper way and didn't get suckered into the "unlimited free money" idea with credit cards, we might actually not be in such debt. Spend the money you do have; don't loan out money to those who don't have a way to pay you back.It's actually very simple. Common Sense!-- Dietz
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