The Matson household is not a big proponent of credit. We tend to save, buy used, and whenever possible, save the difference. We are not however, militantly opposed to credit. Sometimes it can be an asset, though like a loaded firearm or chainsaw, you need to be wary, careful, and suspect of it at all times.
Keeping outstanding consumer debt is kinda stupid, but again, sometimes positive cash flow winds out over a giant lump sum purchase on depreciating assets. This is my opinion won long and hard by the school of hard knocks and life’s little lessons – I seriously do not welcome yours. YMMV…
The info in the above article does not surprise me in the slightest. The crack addict will do anything to maintain his supply despite not having resources to get it. There is always a way.
The new poor in America have DVD/Bluray, big screens, notebooks, and various other accoutrements that even western Europeans find excessive in their upper classes. Like and “Democracy” we are decadent beyond any reasonable scope and are about to wake up to a reality that is harsh by the past two generations standards.