“Maybe you should join an “Economics & Finances” forum”
I’ll spend many years paying back the government for all the money it has borrowed to bail out the typical twenty/thirty-somethings who ran up their credit cards borrowing for new cars, boats, $100,000.00 hair transplants, and houses priced at 3x the historical ratios to rents and incomes. It’s called living beyond your means, and there is a terrible price that must be paid by those who fall victim to the temptation (actually the entire country will share the pain because the losses have been socialized via our tax dollars).
So what’s the genius answer to fixing this mess? Most people think it’s restoring credit to former bubble levels. However, I’m in complete disagreement. The trade deficit must weigh in at some point, as well as historic levels of credit, savings, and a legitimate innovation-driven manufacturing base. I feel very sorry for those who have no understanding of macroeconomics and history. For them, this will come as having been blind-sided. Yet, the writing has been written on the wall for all to see who care to pay attention.
There’s an enormous difference between an economy fueled by manufacturing innovative products and an economy fueled by borrowing and spending beyond citizens’ needs. With an attitude like yours, I suspect you are a typical credit-pumper ignorantly waiting for your house price to go back up to bubble levels so you can clear your head above water. But if not you, there are plenty of others to take your place.
The hair transplant issues I have brought up are longstanding ethical concerns in the field of hair transplant, and I believe ignoring them is irresponsible. The fact that the loans to pay for these types of over-priced HT procedures represent the typical state of mania that has brought this great country to its knees is IMO criminal. What kind of person or organization would pump credit mania as a legitimate course of action for this country to engage in? I think the act borders on psychopathology, but I suspect that’s only on the part of those on the recieving end of the money. Those on the borrowing end are either stupid, greedy, or under extreme emotional duress. Actually, extreme emotional duress mimics stupidity because it’s difficult to think clearly when experiencing this condition. Duress is as responsible as turning well-intentioned people into victims as is greed or stupidity. Con men can spot these traits in people from miles away. It should come as no surprise that young bald guys are particularly vulnerable.
Whether you are capable of realizing it or not, borrowing $100,000.00 for a HT represents a substantial financial decision for most 20-somethings. Everyone wants to borrow and spend, and very few want to stop and think. Unfortunately, all who borrow and spend beyond their means must eventually pay a gruesome cost. It’s a shame to see this burden placed upon those just starting out in life who have not even had the chance to build equity in a home. To pump offseting personal equity by financing 6 figures of HT debt is, at a minimum, an ethical concern. But I’m not here to save the world. I’m here to call a spade a spade.
You come off as a typical mindless consumer. “Don’t worry about cost. Just borrow and spend your way to happiness.” Unfortunately, things don’t tend to work out that way.
