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Originally Posted by squirell nutkin
you might want to google "money as debt" and watch the youtube video about the subject. good intro.
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Good video if you cut out all the conspiracy theory crap. But thanks.
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Originally Posted by Clodfobble
Things only get bad for the bank (and for your friend too, incidentally) when houses start going empty--because single people start consolidating into roommate situations, unemployed people move back in with relatives, college-age kids decide not to move out into their own apartment after all, etc.
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I guess this is what I'm trying to get at. I'm still trying to sort through Squirell's video by verifying the truthful parts with outside sources but the way I understand it is that loans and credit are what keep our economy growing and if credit scores are so bad that people stop taking out loans, wouldn't that greatly hurt the economic growth of the country? On a slight tangent, our current recession is due, at least in part, to the lack of loans out in the housing market?