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:	post by ShadowSD at 2011-07-28 15:49:02

FuckIsMySignature said	[orig][quote]
I understand your point, but a large majority of people are forced into living off of credit now

Yup. People (and governments for that matter, too) always need to have the ABILITY to go into debt if things get really rough; while it's absolutely correct to say we should be very sparing as individuals when there's choice of whether to go into debt, that rule is only because we need to preserve that safety net for those moments when we don't have any choice but to use it - something that DOES often happen in economic downturns. It's good general advice for anyone to try to avoid buying things without credit whenever possible (something most people failed at before the downturn a few years back and which contributed to the bubble that fucked all of us), but at the same time avoiding the use of credit is impossible when things are REALLY tight. In other words, you shouldn't borrow until you have to, but then you have to.

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