Debt Elimination/Debt Relief
If the banks don't really loan money, and everybody starts learning that fact, what will happen to the banking industry? Some think it could turn the business upside down.
Monday, June 06, 2005
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11 comments:
If no one paid another mortgage or credit card payment, nothing would happen because these total alleged debts are just created on bookkeeping accounts [debt money].
The worst thing that would experience would be that more and more people would realize that they now have more money to spend.
As common nature of the American people, they would think; I have more money to spend because I now have no mortgage nor c/c debt.
This could create a brief inflation in the economy due to this extra surplus of money, but the American will find a way to spend it!
you have a pretty cool blog here another one of my favorites is a site on debt that deals with personal finance stuff. I suck at it so I like to share.
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interesting suff!
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I have a credit consommation site. It pretty much covers credit consommation related stuff.
Check it out later :-)
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