Expert Debt?

Posted: July 9, 2013 in Debt
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While driving the long highways of America the other day, I thought I was going to have to pull my car over to keep from wrecking.  An “expert” on the radio declared that people must put their personal debt worries aside so that they could stimulate economic growth by spending more.  I thought I was going to swallow my tongue.  It’s no wonder our country has suffered through a huge debt crisis, and why there will certainly be another.

People were enticed into spending the equity in their homes in order to enjoy the American dream of having everything they wanted.  This created a huge boom in economic activity.  But, once this debt spending became maxed out the economy crashed, and crashed quickly.  If we as a society continue to fall into this type of unbridled spending, there will be nothing more than continued booms and busts.

So, now that people are gaining a step on their debt, the experts want them to spend with debt again.  Ludicrous!  Reasonable spending, with saved money, is what will help decrease the roller coaster ride we seem to find ourselves on.  Please people, listen to your own common sense instead of “experts”.

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