XPost: alt.fan.rush-limbaugh, alt.home.repair, talk.politics.guns   
   From: governor.swill@gmail.com   
      
   On Sat, 29 Jun 2024 09:58:30 -0400, Ralph Mowery  wrote:   
      
   >From what I have seen it seems the norm for lots of people to be highly   
   >in debt to the credit cards.   
      
   Deficit financing became de rigeur in the eighties.  While Reagan was dumping   
   box car lots   
   of government cash we didn't have into the economy, consumers were following   
   his example   
   while relaxed banking regulations let banks have a field day issuing credit to   
   borrowers   
   who weren't that creditworthy.  It was not unlike the housing bubble wherein   
   you could buy   
   a house with nothing down and no proof of income.  That high default rate   
   inherent in   
   credit cards is what makes their interest rates so high which in turn drives   
   the default   
   rate.   
      
   Swill   
   NP:  Beatles - Two Of Us (naked)   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)