I have deleted a number of comments on this thread. Some were deleted for flaming, and others because they do not meet the intellectual standards that one would expect of a serious site. If you want to post bizarre conspiracy theories, then there must be a site for you, but this is not it. If you can't find a site, then start your own blog.

This is a site for serious discussion of policy and current affairs. We try to be as inclusive as possible, but you can get to a stage in the debate when irrational contributions drive away contributions that are rational. As we are primarily about rational debate, I can't allow that to continue.

And I've just deleted another post. If you want to argue about my moderation decisions, then email me directly.

Cuphandle. you posted your opinion on Friday, today, Tuesday you found others agree with you.So do I.The worst decision I ever made was to borrow money to start a business, tax deductible interest.Five years later paying 19.5% I lost heaps.Only tax deductible, if I could make enough to pay the Interest! Sell the house! for half of what I PAID FOR IT! lesson learnt.How many in America are in the same boat?

DIPLOMAN “The worst decision I ever made was to borrow money to start a business, tax deductible interest.Five years later paying 19.5% I lost heaps”

The salient point to make there is
‘worst decision “I” ever made’

It as your decision, DIPLOMAN.
Sure interest is tax deductible but only against income.

When you are making losses, well, as a deduction it is not worth squat

But all of that is hardly the fault of the people who lent you the money any more than it is the fault of the tax agent who filled in your tax return.

Serious point of interest
what sort of business? – something you knew a lot about before hand or did a lot of research in before borrowing ?

Did you do cash flow projections?

I have one business with a tax loss on it (although that was stabilized to breakeven presently). The difference is, I did not put myself into extra debt to fund it, I used surplus cash from another business which I also own.

DIPLOMAN:

I sympathize totally with you in your predicament! No doubt you are just one of many who have and will be caught up in the crisis that is occurring across the world as a result of the excesses of a greedy marketplace, selfish business CEO`s, managers and shareholders, who were blinded by the opportunity to make a quick killing!....Now the chickens are coming home to roost and we will all have to pay the penalty in one way or another for Wall Street`s excesses!

Let us hope that the resultant fall-out will not damage the little people who are NOT responsible for this monetary fiasco!