3 Thoughts on Is it true that most American are now out of debt and financially independant?
  1. Reply
    November 3, 2011 at 8:38 pm

    Americans are living on credit….that stuff is not paid for. read the Wall Street Journal.

  2. Reply
    November 3, 2011 at 9:20 pm

    I would not say that at all.

    I think Americans are getting worse and worse about taking care of their financial responsibilities. I wouldn’t entirely say that it is all our fault (with price increases left and right and wages staying close to the same), but it’s definitely something we’ve got a problem with – especially credit card debt.

    I learned a long time ago that just because someone drives a nice car, wears nice clothes, or shops at upscale stores does not mean that they are financially independent or out of debt. In some cases this may be true, but for most people, it just means that they have a lot of bills to pay every month.

    In fact, just do a search for something related to “american debt” and see what you find. I think you’ll be surprised at just how bad it really is.

  3. Reply
    November 3, 2011 at 9:37 pm

    No, and the cars at which you are looking where probably purchased on credit.

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