Most people have hardly given the idea of debt a second thought over the last thirty years. People buy houses, cars, and furniture on credit. Plastic money takes care of clothes, meals, vacations, and incidentals. If the burden to finally paying it all becomes too great, the debtwise consumer simply activates his line of credit at the bank, borrows more to pay off the other borrowings, and even has a bit of cash left over. That game is rapidly coming to an end because of high interest rates.
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