But but but... BOOTSTRAPS!

[dwer.livejournal.com]

Comments

Re: Yep, that sounds like democrats.

[zombiesmustdie.livejournal.com]

That's not what I said at all but good job beating on that strawman.

Re: Yep, that sounds like democrats.

[zombiesmustdie.livejournal.com]

50 years ago the gap between average income and the cost of necessities like shelter was not as great, thats why they got along fine without them.

As a general principal its true that if you dictate the terms then you must be free to dictate the offer yes. However credit is not a luxary in our current economic system. Its all but short of a necessity. Therefore I think its immoral to make the kind of profits credit card companies make off of a necessity.

I can't explain any better that the choice between massive debt and failing out of college or job loss is a non-choice and therefore not voluntary. The argument is therefore not moot.

Re: Yep, that sounds like democrats.

[zombiesmustdie.livejournal.com]

just as an example of the income/cost gap in 1950 average income was $3210 per year and the average cost of a new house was $8450 (2.6 years of income)

in 2007 (the latest year i could find) average income was $40,405 and the average cost of a new house was $299,1000 (7.4 years of income)