tag:blogger.com,1999:blog-6244999628674918029.post681264321879345411..comments2024-03-29T04:31:25.034-05:00Comments on Bayou Renaissance Man: Debt and the economy (again)Peterhttp://www.blogger.com/profile/10595089829300831372noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6244999628674918029.post-856412080792880662016-07-12T04:08:03.724-05:002016-07-12T04:08:03.724-05:00This is a solved problem: the debtor becomes insol...This is a solved problem: the debtor becomes insolvent and declares bankruptcy. Sure the creditor loses out, but that's the risk the creditor took when lending the money and why the creditor receives interest. After a few lenders go bankrupt the others will tighten their procedures.Quentinnoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-36718302157683625462016-07-11T15:31:20.942-05:002016-07-11T15:31:20.942-05:00I'm not a 100% follower of Dave Ramsey method ...I'm not a 100% follower of Dave Ramsey method of personal finance, but I have no debt and intend on staying that way.BigFirehttps://www.blogger.com/profile/08691686124373392635noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-46387577946278562392016-07-11T08:37:45.536-05:002016-07-11T08:37:45.536-05:00The corollary is to look at the number of people t...The corollary is to look at the number of people that have won the lottery and then look at the number of those that are still solvent one, two, or even three years after. It's a much smaller number, and most of those that are still solvent are because they had a plan and stuck to it.<br /><br />Humans suck at weighing the unintended consequences of their actions, we're lazy, and most folks lack the will power to stick to a plan, let alone even possessing the ability to properly plan. Because of that, we will be forced to endure whatever solution the magical thinking of the idiots in DC brings forth. And we'll be right back here, in the same spot in no more than 4 years. Again.Brucenoreply@blogger.com