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A Nation in Debt

By Keith Shoemaker

Real Estate Agent with Florida Homes Realty and Mortgage

June 16, 2008 07:44 PM

Long article, but a good overall read on how the USA became a debt nation.

http://www.the-american-interest.com/ai2/article.cfm?Id=458&MId=20

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Greg Hampton

Re/Max Around The Mountains - Blue Ridge, GA

North Georgia Mountain Property,Blue Rid

Turning this mess around will take time! I think it is time to buckle down on an indivisual basis and stop the impulse buying.

Jun 16, 2008 10:56 PM

Chip Jefferson

Gibbs Realty and Auction Company - Columbia, SC

We try to keep unsecured debt down to no more than 3K. If we dont have the cash we dont buy it. Then we dont jump in without long discussions. As a young couple we got caught in that trap. Never again!

Jun 16, 2008 11:24 PM

Scott Daniels Florida Real Estate 2.0. Agents Earn 100% Commission.

Florida List For Less Realty, Inc. Broker/Owner. - Cooper City, FL

Keith,

The article is great. Now what do you think?

How does this effect you?

Jun 16, 2008 11:32 PM

Keith Shoemaker

Florida Homes Realty and Mortgage - Jacksonville, FL

Keith Shoemaker

It is something that this country will have to get control of in the future. China is the 800lb gorilla in the room and holds most of the T-bills that are printed.

The citizens could start buying its own paper back, instead of having another country buy it.

This will make the economy stronger on a macro economic platform. On the micro side, it will allow more people to have a nest egg and build for the future.

So much money is spent on advertising, an example is McDonalds spends over 100 MILLION a year to get you to eat hamburgers, Spend some advertising on buying stock or bonds or T bills.

Might have to make it a tax credit to purchase, but it is still better in the long run compared to subprime bailout money that is going to be spent.

Jun 17, 2008 04:07 PM

Scott Daniels Florida Real Estate 2.0. Agents Earn 100% Commission.

Florida List For Less Realty, Inc. Broker/Owner. - Cooper City, FL

Sadly, we`ve put many of these countries in power and have destoyed ourselves by helping others.

Reminds me of Roman history....

Jun 18, 2008 03:29 AM