Timeless Wisdom from SNL, to Cash Strapped American Consumers
There was some "advice" post here on CAPS how not to pay your debt collectors. I might go a little "old school" here, back when people were expected to keep there promises. I can understand certain circumstances, where an unexpected accident or death can put someone in tough economic circumstances. However, most Americans save "net zero", and borrow to consume based on some totally absurbed economic assumptions.
Rule #1 NEVER BORROW for consumption. The only time you should borrow is to buy assets, for work and SOMETIMES as investments.
Watch for some wisdom here:
Don't Buy Stuff You Cannot Afford
Asians are reducing the amounts they are willing to lend, to America, "the only Superpower", COUGH....COUGH...EMPIRE OF DEBT!...COUGH.
I recommend the book Crash Proof, by Peter Schiff, if you do not understand what I am saying.
Here is some Peter Schiff here: