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Reliance on big baking and loans causes inflation, why do we keep doing it?


PDavis
(@pdavis)
Eminent Member
Joined: 3 years ago
Posts: 26
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It is no secret that the US is in debt. Not just a few million in debt either. The average American citizen is walking around with over $25,000 in debt. This is due to loans, college tuition, medical bills, and the rest. We spend beyond on means so we don't have anything left to save. Enters the big bank and the "free market" to give ups loans so we can buy more we can't afford. I am no economic expert here but wouldn't it benefit the entire country if we focused more on saving than spending? Most of the stuff we seem to buy isn't even "needs" but rather "wants". (This is a general statement to/about people in America, I am including myself because I too am guilty of spending beyond my means)


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