In Reply to: Re: Society of debt posted by Megan on November 27, 2001 at 17:13:44:
Do you have any reference for debt being higher in the 1800s? I don't think that's right. I think debt is easier to get now and used for almost everything. Remember they didn't even have credit cards until recently.
: There is such a thing as good debt. If one has the cash to buy a car, but instead gets a loan and uses the money for investments or education this, in the banking world, is a good debt. But I don't think this is what Cindy was talking about.
: I could be wrong about this one, but historically, Americans now are actually less in debt then the 1800's. Then was a time where everything was bought on credit and there weren't many "hard" assests except your house and possessions, most of which weren't completely paid for yet.
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