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Government Funds 70+ Cents of Every Dollar of Consumer Credit

Discussion in 'Political Issues' started by GAFinch, Dec 9, 2012.

  1. GAFinch

    GAFinch

    5,912
    28
    Feb 23, 2009
    Georgia
    http://www.zerohedge.com/news/2012-12-07/october-consumer-credit-rises-142-billion-government-funds-70-cents-every-dollar

    Yearly total is 73%.
     
  2. Cavalry Doc

    Cavalry Doc MAJ (USA Ret.)

    34,969
    9
    Feb 22, 2005
    Republic of Texas
    Now, before I say this, I am actively working on eliminating all debt while buying tangible goods that I will need in the future in any situation.


    But I have to wonder....... would I be better off getting about $100,000 worth of credit cards and maxing them out, then just wait for hyperinflation to whittle down the debt for me.........

    If I wasn't an honest person, I'd seriously consider that option.
     


  3. Atlas

    Atlas transmogrifier

    12,512
    11
    Oct 1, 2001
    north of the equator
    I wouldn't consider that to be dishonest at all.
    Banks and consumer credit companies take that risk willingly.
    They understand the money markets and inflation better than most. If they don't want the risk that the currency you will use to pay your debt will be devalued in the future then they shouldn't be in that business. They contract with you to loan you money in a particular currency (dollars for you and I) and to be paid back in that same currency.

    It would be quite a different thing if you accrued debt with the intent to default in bankruptcy. That would be dishonest without question.

    The trick of course is same as anything else in the marketplace... timing.
     
    Last edited: Dec 9, 2012