
Given a Shovel, Americans Dig Deeper Into Debt - crocus
http://www.nytimes.com/2008/07/20/business/20debt.html?em&ex=1216699200&en=860e3a210d31bb13&ei=5087%0A
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steveplace
It's OK. The shovel I bought was a deal. I got no money down and no payments
for 12 months.

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davidw
And now these articles are starting to come thick and fast.

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ninguem1
Is the lady portrayed in this article supposed to be the average American or
an extreme case of cluelessness? I don't know anybody who is in such a hole
(or at least admits to).

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yummyfajitas
I have.

They are the same people who read _The Secret (power of wishful thinking)_
(<http://www.thesecret.tv/>), believe in astrology and faith healing, but
don't believe in the moon landing. They are out there, and there are more of
them than you think.

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anotherguy
27.7% interest rates. Holy shit :-)

But that's america I guess. The richer get richer by exploiting the poor.
There should be laws on the maximal interest rate!

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fallentimes
Not true at all; wealth is not zero sum.

Additionally, there should never be caps on interest rate as long as the
lenders are _forward_ about their effective rates. High risk people should
always have to pay higher rates, otherwise no one would lend to them in the
long-term.

