Well, the loans are put on the banks back.
The money the banks pay for these mortgages and car loans
Have to come from somewhere. That’s why a mortgage is 17-18
Years of bank interest & 12-13 years on the amount financed.
The bigger thing I’m saying is, if people didn’t need to take out
Loans we wouldn’t either be paying off debt and/or wouldn’t
Be generating debt. As interest rates climb so does the price
Of living. America has its ways of making world wide money
And impact on other countries in healthy ways just look at
Companies like McDonalds. They mix local faves with American
Cuisine.
I do think loans make it worse for American debt. But I also think
So does war… We blow up other nations just to give them, billions of dollars to fix their country; when we don’t have money to be paying them in the first place. Idk, I think 18 year olds leaving home to live
On their own is to young. I think people should save half of the
House payment instead of financing 90% or more of the house.
My last car I had I paid cash for, so I practice what I preach as well.
You seem to confuse personal loans with national debt, those are basically uncorrelated - unless mass defaulting of one leads to the other, but the 2008 financial crisis is more a failure of the capitalist system than anything else.