Originally Posted By: FleaFlickr02
When I participate in these discussions, I can't help but wonder why the personal accountability of the borrowers never comes up. I understand that ours has long been a culture of spending beyond our means, but when the purchase involves the roof over one's head, one should be slightly more prudent in his decision making, IMO.


There is something to be said about that, of that there is no doubt.

Although consider this; if a kindergarden teacher leaves their classroom unattended and upon their departure leaves the room full of pixie sticks and Coca Cola, who do you blame when they come back an hour later and the room is completely destroyed? The teacher,........ or the kids?

The thing about demand is that in some instances it can remain constant. People always want stuff. When diving into the problem of credit expansion shouldn't the finger be pointed at those who provided the Schnoppster for the punch bowl?
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On a long enough timeline the survival rate for everyone drops to zero.