By: Ian Thomson

Ian Thomson — Tue, 17 Feb 2009 22:35:10 +0000

This article says things the right way & points people in the right direction. Regarding peoples’ Debt(s); – I recall, shortly after the end of WW11, when the economy was – very gradually – showing signs of recovery – BUT – the “business men” did’nt like waiting, they wanted the recovery, (ie; – their personal Profits) to sudden;y bounce right up! At that time, in Winnipeg, where I resided and still do, one was required to put “Thirty Percent Down” when purchasing something “On Time”. The “Business Men” persuaded the Government to Change the Rule so they could sell merchandise with only “TEN” Percent Down. What happened then was that the sellers said – “Just bring in an old broken Record or something similar and we’ll accept that as the “Ten Percent Deposit”. After that, sales inceased, generally, but everyone, everywhere, was in debt (not for 70% of the product cost but for 90% – AND Paying Interest on top of that. That caused almost everyone to Pay Much More Than the Original Price, in order to purchse any item. The sales people nver “reduced the price” they just left it the same [Or secretly increased it] and then we had to pay the total(sometimes inflated)Price of the article PLUS the Interest. That, in turn, meant most people could not afford “to buy other items” because their money was tied up in paying for the first article. THAT’S WHENIT ALL BEGAN! I may not have expressed it in the best manner but I lived through it and – I’m dead bloomin’ right in what I say. Cheers!

Comments on: Children Deserve More Than A Legacy Of Crushing Debt

By: Ian Thomson