The rich companies are content to lock people into a cycle that is difficult to escape, racking up too much debt that they can't pay off, and shelling out a large portion of their income on interest payments. Don't get me started about criminal late payment fees.
This is good for the finance sector, but is it good for the economy as a whole? When consumers actually buy less because they have less money left over, then we are actually selling fewer consumer goods, aren't we? Is it really good to have a few powerful people in control of the money while the lower class sinks into economic turmoil?
When answering me, try to think of my reasoning not as that of a "communist", but in the same sense as Japan, for example, where they seem to think that it's good for everyone to be fairly financially sound so that everyone can participate in the economy and there aren't a lot of poor people dragging the economy as a down....
2006-11-01
12:13:04
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4 answers
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asked by
KSR
2
in
Economics