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This guy is full of nothing. he is no economist.

Fractional Reserve lending people. That is the 800 pds gorilla in the room that everyone ignores.

It would put an end to "debt regime". Ever wonder how come everyone, countries, businesses and even people owe money. Who is the creditor???

They are not so attractive as they used to be. Uncertainty leads many investors away from "equity". Dont forget what equity really means.

The system itself suffers a deep recession. It will take quite sometime for things to heal. Meanwhile worry for your pocket.

Please read more on Fractional Reserve Lending & the need for a lender of last resource. Paying off a loan decreases money outstanding balances therefore decreasing the money supply. If substantial enough (like a systemic bubble) it will threaten the whole economy.

Another victim brainwashed guy. In case you were in the moon or out in space for the last 3 years or so I will tell you a little story. Between 2000 and 2010 greedy dishonest people like me took huge debts and got rich. When the bill came we defaulted. Along came the Fed and the US...

I am glad for you since you love the system. Good luck and I wish prosperity. However, It does piss me off that you don’t respect my position. So I smell hypocrisy. You are a victim of the system. Just like the movie matrix you would even fight to defend it. An noble obedient slave. :( :(

I have to admit it he deserves A+:cool:

I think you are wrong but you could turn out to be right in the future. but it is highly unlikely. My life is not credit oriented. It is income oriented. That's why I do everything I can to boost my income. I do so by having degrees. I cant imagine how my life will be when I am CPA and I...

So far it has never happened to me and I do not know of any of my coworkers. I actually dont think that is even practiced here in Miami. We do however get an extensive background check to make sure we are not criminals or that we have done a poor job in accounting in the past.

SSSSHHHH!!!!! If my boss knows this I might get fired you know.:D Maybe even the university might kick me out :eek:

Thank you. As I said before. Its been 3 yrs since this happned. I think they have 4 more to do anything in court. My lawyer told me only to worry if I get a court letter. And if that happens there are plentty of ways to deal with system AS YOU WELL SAID. Right now they pay more attention to...

Not in Accounting. Instead of being checked on. We get hire to check $$$.

You are better informed than I thought. I don’t take vacations in the Caribbean, I was born there. I instead go to Europe where I pay for a bus to take me to places and I meet nice people on the way. I don’t think that is the way CC work. What scared me was not 29.99%, It was the fact...

Is it a big deal not to rent a car?? I do not know what you are talking about regarding student loans. Have you gotten one ever?? Ruin life??? Over what?? I believe there are close to 3 billion women out there. Just in case a divorce occurs. OH by the way its not about 10K is...

Explain

I did call them. I did try everything but defaulting. Trust me, I wont have to pay a penny. As of the historically low rates I have taken full advantage. I have refinance my student loans and will make cheap monthly payments for 30 years on 100K. :D . I plan on no taking debt ever in my...

On what ground should it bother you that I encourage people to do the same??? Are a guarding of truth, morals??? Who the hell are you?? If someone does not like what I say they can just ignore this thread. Yet it is the most replied to one. Its full of guys like you. And I love it. Keep...

Finally a non emotinal answer and a very rational one.