Originally Posted by licence2kill
benji explain to me how people were expected to know that in 2008 the central bank would let NGDP crash for the first time in decades.
Maybe there was no way for them to know but that doesn't change the fact they had debts they couldn't handle.
Originally Posted by drgonzo
You don't get to ask for a bailout by this program, not now or ever. It's identical to you defaulting on debt and a collection company buying it and <del>****</del>ing with you, except you get lucky and get your debt forgiven. If that happens to you, you are thankful. Your credit is still <del>****</del>ed.
You're just making up <del>****</del> to try to make a bull<del>****</del> moralistic stand.
And as I said I would support this program (and probably donate too) if it was guaranteed that people would learn form their mistakes. The root of the problem is not that they are in debt, it is poor financial planning.
Except "A" (being in debt) is already exemplified so there is nothing to "slip to" because the behavior is already exhibited, it is a question of if they return to it or not.