| How long will US dollar's decline last? | |
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| Mar 19, 2008 23:47 | #11   |
 | jimmy, what i presented is an example of extreme. credit cards bring convienience for shopping and and other form of short term loan is an fabulous tool in managing family cash flow. |
| Mar 20, 2008 20:17 | #12 |
| GUEST22992 | It is true that the U.S. does rely on credit too much to finance for a life some people cannot afford, but this has to be viewed on two different levels. There ARE the people--not that I know too many of them--who use credit cards, constantly, for the luxury items they just "have to buy" or else, get a much larger loan because they would rather buy the gas-guzzling truck with all its special effects than a simpler, smaller, more efficient vehicle. On the other hand, if we're talking about someone who saves up for the down-payment on her house, keeps good credit, buys a house reasonably sized for her family, and is willing to spend her life paying off that investment... well, it's hard to say it would be better for her to have just saved up all her life to buy a house near the end--or just not buy it at all. (Then her kids get to squander it YEA). Others who are building up worthwhile debt include college students who come from a background with too low an income to finance their own higher education and live in a society where you need at LEAST a bachelors degree if you want to have any life at all. |
| Mar 20, 2008 21:53 | #13 |
| guest, you kicked off a comprehensive topic that is worth debate and being extended. I think you had better initiate a thread for this. |
| Mar 21, 2008 21:24 | #14 |
| "jimmy, what i presented is an example of extreme. credit cards bring convienience for shopping and and other form of short term loan is an fabulous tool in managing family cash flow. " Agree, Marrie. Just be wary of over spending. For me, I still don't want a credit card because I am poor at financing. |
| Mar 21, 2008 22:06 | #15 |
| jimmy, use debit card and barter is even better. |
| Mar 24, 2008 21:56 | #16 |
| "jimmy, use debit card and barter is even better." Thanks, Marrie. Actually I have debit cards. Since I can't use it to overdraw money from the bank, I needn't be afraid of being in debt. |
| Mar 25, 2008 09:20 | #17 |
| Jimmy, i think you are the heir to a large fortune - joking. I am not sure if you are chinese or british. but it's not the questions, young married people in china and overseas, i guess usually have debt/equity ratio >1 on their home book unless they inherit residence or rent it. |
| Mar 25, 2008 21:49 | #18 |
| Marrie, you are right. A large amount of young people in China have debt or equity ratio because they enjoy over consuming as Americans (I should say that they just learn this from US). If you see one girl take out several credit cards in her purse, don't be surprised. I think that I am behind the times because I don't have any credit card in my wallet. As I have said, I am not fond of over consuming so that the credit card is useless. For these young married Chinese, they own debt to the bank because they have borrowed money from the bank to buy their houses. |
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