Quote:
Originally Posted by eddly
This isn't all that surprising. Imagine what things would look like if we didn't have credit "freely" available to us. This economic crisis that is lingering would look a lot worse. I graduated from university in late 2008, just in time for the recession!
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What would happen? Credit is important for businesses, and it makes things a lot more easier for people who can afford to make their monthly payments because the bill is always paid for on the same day, but freely available credit is a big problem. Maybe not as bad as a sub-prime mortgage, but the amount of credit available to people without any history of making payments should be VERY low.