In the long term, this trend will end. If aggressive action isn't taken soon to get our dirty little "borrowing" habit under control, our dealers creditors are eventually going to cut us off. Only reason they're still loaning us money at this point is the massive, massive amount we already owe, and the realization that if we get cut off, cold turkey, at this point, our outstanding debt gets written off.
There's a saying from long ago: When you owe the bank a thousand dollars, you have a problem. When you owe the bank a million dollars, the bank has a problem.
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
timeasmymeasure
no subject
Date: 2008-09-09 11:55 am (UTC)In the long term, this trend will end. If aggressive action isn't taken soon to get our dirty little "borrowing" habit under control, our
dealerscreditors are eventually going to cut us off. Only reason they're still loaning us money at this point is the massive, massive amount we already owe, and the realization that if we get cut off, cold turkey, at this point, our outstanding debt gets written off.There's a saying from long ago: When you owe the bank a thousand dollars, you have a problem. When you owe the bank a million dollars, the bank has a problem.