My Analysis On “Boom in Debt Buying Fuels Another Boom—in Lawsuits”
February 22nd, 2012 . by adminIt is a bit comical to watch the particulars of the argument from the perspective of the bloodsucking ghouls trying to collect the unfortunate debts or from the perspective of the defrauding deadbeat profit iring at societies cost! A lot of passion and empty morality. But at the macro level it is pretty clear that economy is down, it is pretty clear that the unemployment is up, it is pretty clear that this will persist for a year or two. You can sharpen the collection machine all you want but if you come form place of anger, greed, and ignorance of the macro economic situation, you will only insight anger and resentment against the system in people. There is only so much you can squeeze people. Sometimes as it happened many times in the history, debts to the third world were simply relived, I would argue that just as the poor in the third world American poor deserve a break up advice every now and then. What engenders more lives and puts our recovery at greater risk, giving the poor the same moral hazard break as we did for the banks and forgiving some loans the lending institutions have long written off, or creating angry disfranchised poor class?
