This is defeatist. You can pay off your student loans (I did) and your mortgage (I did). You don't need a smart phone or a phone plan (I have neither) or netflix (also don't have it). Don't accept "the world mandates that I do X" ; create your own path.https://twitter.com/AetiusRF/status/1121162094320259077 …
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Also, credit isn't a universal bad. The main issue with debt these days is that many people enter into it *casually*. "I want a new car, so I'm gonna pay $800/mo for 72 months because I can!" No. Entering into debt is a major decision! Think it through! Consider ROI!
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We just had central AC installed in the house, after dreaming of it for 5 1/2 years. I asked wife "what percent of people getting this do it on credit, or borrow against their 401(k), do you guess?" her: "90%". I bet she's right.
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Yes, I was agreeing with you from another angle. Most people's choices are not nearly as constrained as they think. That's why you get such a huge overreaction if you suggest that people might be able to afford a house deposit if they stopped ordering avocado toast.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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The only aspect of credit that isn't a good thing is the hidden inflation of the money supply caused by fractional reserve banking, which is going right into the pockets of bankers at the expense of everyone else. Credit ought to be lent by people who have money to lend.
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I wish more people understood what was going on. They'd realize they're being robbed by people who just shift numbers around with loans so they can collect interest as invisible "money" on balance sheets.
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