FWIW The replies were appreciated. I am basically a free market person and believe individuals need to be responsible for themselves.That NYTs article understates reality. CC cos push and push cards, and send encouraging just write a check, promotions twicw monthly.Except for unusual circumstances, its very foolish to borrow for consumption youcan't afford. The economy is growing at a few %, earnings are growing a little fast than that, to borrow @ 10 12 18 let alone 23 or 27, is just terrible finance.From talking to a family I know, CC cos egg and egg, someone has a 22.4 balance on a 23k credit line and they still get checks and checks-write 'em!! as soon as their balances approach their limits, KKkaaafoom and the rate jumps to 24%.Money invested at 10% goes up aprox 8 fold over just 20 years,paying 24% is asking for impoverishment. That is usury . A crime...Wait until the day strategy notes are leaked. They prey on the weakest and IMO will pay.
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