Post #153589 by thejab on Mon, Apr 18, 2005 1:37 PM

On 2005-04-16 20:17, Atomic Cocktail wrote:
PLEASE HELP ME! I'm trying to run up a personal debt of $50,000...WWJD?

Do it, then declare bankruptcy before Congress takes away your right to do so (if it's not too late already).

Don't feel guilty because debt is the basis of the whole world economy right now. Which is why the dollar is doing so poorly against the euro and the yen.

Americans buy tons of stuff (mostly on credit) imported from Eastern countries while the US borrows money from Eastern countries (mainly China and Japan) to pay the interest on our massive Federal debt. But the Chinese and Japanese governments are afraid to stop lending us money because if our economy tanks, we'll stop consuming their products, which will cause their economies to tank as well.

So, if you stop buying stuff on credit the whole world economy will collapse!

I hope I didn't get too political here. These are just non-partisan economic facts.