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      12-02-2019, 11:07 PM   #147
GenXer
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Drives: Like a bat out of hell.
Join Date: Apr 2019
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It's all a house of cards anyway. The entire commerce system depends on people's making rash decisions and getting new and better things over and over. Whether it's cars, clothes, house or gadgets. There's that school of thought about faking it till you make it. When you can afford a Honda, buy a BMW. When you could buy a BMW, get a Bentley. It's being flaunted in popular media. It's ingrained in the yuppie movement. There is even a saying of keeping up with the Jones.

In Tokyo Japan, people have 100 years mortgages where their children would inherit the parents' debt.

Somewhere there has to be a balance. Can you blame individuals for not making sound financial decisions when the government don't even make good financial decions and are always drowning in debt. There's not a single course in school that emphasize making good financial decision.

When I was 18, I was offered $40K in 2 credit cards with zero income. I bet this is going on today. When I first made $100K a year, I was offered a $350K loan to buy a house. I didn't take it but I wonder why the hell a bank would even tempt anyone with this offer.

Credit is like a drug, once you're hooked, you'll always crave more and more.
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