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Author: DrBooa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308857  
Subject: Re: Parents as Role Models for Financial Matters Date: 4/17/2012 9:58 PM
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If I understand correctly you are saying our ancestors didn't get into so much debt because it wasn't so readily available.

I submit the possibility that it wasn't made so readily available because most people just wouldn't have used it. That means there wouldn't have been such a profitable market for it.

I do acknowledge that the convenience has improved a lot. After all we didn't have magnetic strips in our pockets and ubiquitous readers at every cash register, nor did we have nearly as prolific of a retail machine scattered across the country. But I still believe the primary difference is attitude. Living in debt, beyond business capital investment, was seen as something good folk just didn't do.


You may be right xtn, I don't think there's any way to know for sure. Maybe those people were just better than we are now. I guess I have a hard time believing people would change so much in such a basic way over such a short period of time (that is, not hundreds of thousands of years, but hundreds of years), BWDIK?

If we're some devolution of previous people, then isn't that the ultimate excuse for being in debt? I guess I feel people can still control their spending and their fates, but maybe we are just not good enough anymore. There are a few throwbacks, but maybe as a society we're just doomed to be in debt now. We don't have the moral fiber of previous societies. That thought makes me really sad, but maybe you are right. :-(


--Booa
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