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Excesses and excuses - the household sector’s role in the GFC : Comments
By Stephen Koukoulas, published 15/7/2009Debt is very much like red wine. In moderation, borrowing money and accumulating debt is a desirable thing.
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I have always thought that the advertising industry can be blamed for a lot of what we now suffer. Sure, it increased production but so much of the excesses created in the name of "progress" can be sheeted home to their often false and misleading propaganda that sucked the population into debt. Most of this preying on emotional triggers of family happiness.
Most of my life my friends have asked me what I'm saving my money for, but I always reply "so that I can pay cash and get it cheaper than you"