This crisis proves Debt must be used only in true emergencies?

Discussion in 'Economics' started by crgarcia, Dec 1, 2009.

  1. When all other resources ran out?
    And only temporarily?

    Most who got into debt: people, corporations, gov'ts got into trouble by getting excessive debt during the good times?
    So they can't get more debt into the bad times, when debt is really necessary?
  2. No caca, Sherlock, no? :cool:
  3. FDR was the one who got the ball rolling. He was thoroughly impressed and amazed at "how great things ran" with deficits. Just borrow and spend, baby... borrow and spend.


    Years ago my cousin was dying from an untreatable brain tumor. He took to partying every night and always picking up the tab.

    When I asked him about the $100K in CC balance he'd never be able to repay, his response was "F*CK 'EM"...

    Seems more than a dying man has adopted that philosophy...