why have so many people run up accesive depts............and why is it sociably acceptable to be in so much dept.
2007-10-04 08:40:06 · 9 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
for the people who say my spelling is bad i dnt care i jst want an ans 2 the question
2007-10-04 08:45:51 · update #1
and how can you stop dept
2007-10-04 08:51:18 · update #2
we live in a consumer economy and our culture is overloaded with constant advertising to buy more stuff which feed the keeping up with the Jones' mentality. There has been almost endless easy credit so many people buy stuff and think they will pay for it later when their home value goes up and they can borrow money against it. But what happened is value stopped going up and the rate at which the lenders charge for people to pay back later has also gone up. We are a nation built on consumer debt, most Americans have no savings, they think they have liquidity, value in their investments, like their house, but that is changing.
It's excessive, not accesive. Like excess versus access.
2007-10-04 08:55:45 · answer #1 · answered by ? 6 · 3⤊ 0⤋
I have to say that is partly due to the instant gratification (and stupidity) of so many people but.....it is also the fault of these greedy creditors that will lend money to people that they know can not afford these payments---esp at 25%-30% interest rates.
It's PATHETIC.
A person can stop debt by not buying everything and anything just because it is out there to buy.
Make a purchase with cash only and don't depend on credit. It's that simple !!
Make a budget and stick to it. There is so much that a person or family can do without.
2007-10-04 16:11:41 · answer #2 · answered by krissyderic 7 · 1⤊ 0⤋
They are incorrigible optimists .
They think get dept ( debt), income will follow. The outcome is as a result of absence of income.
The answer is outcome of tad english some example
UK
we have best detective police force became
we have best defective police farce
LOL
2007-10-04 16:07:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Unless you live in a van down by the river, debt is a fact of life.
Excessive debt however, is not necessary. It is socially acceptable because our society does not deem that having excessive debt as a bad thing, unless of course, you can't pay it back.
2007-10-04 16:17:44 · answer #4 · answered by ken erestu 6 · 1⤊ 0⤋
It is because most people spend over their means. For example, most people have high speed Internet and cell phones. Yet they are on all kinds of assistance. They are driving new cars and boats. People need to prioritize their spending. The only way to do this is to remove needless assistance programs and enforce the remaining ones.
2007-10-04 15:46:07 · answer #5 · answered by mustagme 7 · 5⤊ 0⤋
I agree with Joe - why IS your spelling so bad???
2007-10-04 15:45:17 · answer #6 · answered by roadrunner426440 6 · 1⤊ 2⤋
Ignorance.
And by the way, your spelling is atrocious.
2007-10-04 15:43:32 · answer #7 · answered by joe s 6 · 2⤊ 2⤋
because they'er dumb. they need to have this thing now. figureing I'll pay it off. But they don't they pay the min. payment.
2007-10-04 15:50:09 · answer #8 · answered by Macisbac 2 · 2⤊ 2⤋
are you meaning debt
2007-10-04 18:46:28 · answer #9 · answered by Perfectionist 6 · 0⤊ 0⤋