Comments by "Comm0ut" (@Comm0ut) on "“Broke Now, Pay Later” - Credit Scores CRUSHED as Americans Drown in Phantom Debt" video.

  1.  @FutilityOfReason  That's not running cover. That's fact because actuaries don't go by feelings, they go by cold hard numbers. High unsecured debt reflects low intelligence and poor judgement therefore higher risk. Smart humans are lower risk customers. Debt is an informed adult choice. People without ruthless self-discipline had better be rich so they can afford to be foolish.
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  2. The wise live below our means and have no bad habits to adapt. The smart live well below our means when times are good and do nothing but prepare for inevitable bad times. I learned from my relatives who came up in the Great Depression. Many, many Americans are doing just fine but we don't make the news.
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  3. In the end that's destructive however appealing it looks early on. Unwise spending is very common, like poor folks wasting money wearing someone else's hair or buying expensive vehicles on credit. I used to fix cars for a used car lot and that destroyed any respect I used to have for consumer intelligence. Except for farmers and tradies buying work trucks most folks really are mindless consumers who buy toys they don't need to impress people who don't care about them. The smart folks don't stay poor for long but most people waste time entertaining themselves with trifles instead of constantly self-educating.
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