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August 07, 2011, 05:14:06 AM |
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I do understand how borrowing now with the expectation of earning more later from the loan than you will pay in interest is of value to both parties. I really do. The current Federal debt of $14.58 trillion when we only created new value (GDP) last year of $14.53 trillion dollars strongly suggests to me that this whole spend now what you have not yet earned model should be once again relegated to a last resort, not a standard business practice, and certainly not a model for a nation. Or an individual. Or a state. All I'm sayin'. As an aside, those that cater to the desperate on a small scale are mostly either charities or drug-dealers. As above, so below.
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