It's disappointing to see that most of the comments have been quite patronizing toward people who have signed exploitative loan contracts. The responsibility is ultimately on the borrower, of course. Nevertheless, any advice I would offer consumers would be less along the lines of "don't overspend" and more about "understand the adversarial nature of consumer finance." Personal choice is definitely constrained by market conditions, and relative poverty means not only constraints on what can be bought, but where. Interest rates, like insurance rates, are literally inversely proportional to ability to pay, a situation which results in "positive feedback," which is to …
- Joined October 16, 2007
- Last Visit October 16, 2007
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Ignoring Outrage, Obama Set to Expand Pentagon Presence in Colombia
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