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    • 9.1 PERSONAL FINANCIAL LITERACY https://www.state.nj.us/education/cccs/2014/career/91.pdf I do wonder how many schools properly teach this.
    • It very often is not taught in schools.  I moved in middle school and moved into a school district that had a pretty robust civics class that spent a quarter going over the basics of personal finance, budgeting, investment and stuff like that.  Later one year of health class was personal finance and retirement planning.  Outside of getting into more advanced math they were pretty solid. When I went to college I met back up with some of my friends prior to moving. They did not get the same kind of coverage of such subjects.   
    • There is absolutely nothing wrong with properly managed debt...  A majority of people cant buy a house or car with out it. Or receive a good education with out it. Provided all of these debts end with valuable assets which allow you to earn more in the long run, and the interest paid doesn't out-weight other factors. If you are saving to buy a house, and paying rent.. does the rent cost more than the interest if buying one? If so, you stand to lose money buy avoiding debt. In 30 years, the people who rented and outright bought their home can very possible have less net wealth.  I can pay off a car and house, at extremely low interest rates, while compounding interest in investments as the economy grows..  earn dividends.. utilize my own free crash to work for me.. instead of not having any being due to it tied up in liquid assets So debt CAN BE GOOD, and can actually increase your net worth over time. Especially if that debt leads to valuable assets.  That requires working both side of the market.. and investing your surplus not spending it. And doing it smart. Why would I put all my money into a house to save 3% a year when I can use it to earn potentially 10%? The house eventually gets paid off, and I have a fat retirement account with a major asset like a home. Regulations can go either way... deregulating mortgages led to the housing crisis.. Clinton's dream that every American would own a home.. So they are very important in establishing who can get a loan, ESPECIALLY if we are to bail out dumbass banks for handing out LEGAL predatory loans because people are stupid. Any regulation that makes it harder to borrow money is IMO good, but when we need a way out of a recession.... we print money and loan it out. We make it easier to borrow and start the cycle all over again.       
    • The article doesnt dispute a single thing I have said, and doesn't support a single thing you have said. You just read it all, but being selective in what YOU want to hear. "families get into high-interest credit card debt as the economy grows" What are you even arguing?  I said good economies produce high debt...  I showed you the graphs, and even a very well written article explaining that from someone who managed Credit debt. You said people paid down debt in good economies, but you havent shown a single piece of evidence that suggests that.    Do you want to arguing if this debt is good or bad for an economy? then start doing that because you haven't.  Credit agencies just updated how they calculate scores due to people taking out personal loans to pay off credit cards, and then rack up the credit cards again... is that bad? Yes. Will unmanaged credit lead to economic down turn? Yes... but does that mean the economy today is weak? No. In fact, it's a good regulation that will better help lenders know who should not be given more credit.   I have shown in a number of different ways how debt is used to grow economies.. at this point you're just ignoring those fact. Whether it's a company looking to expand, a company looking for a start ( as corporate debt also follows the same trend), a family looking to purchase products, a state or local government looking to invest in infrastructure with bonds. All with the specific intent to create cash flow.  Unmanaged debt will crash the economy, eventually. They have been calling for this recession since the day Trump took office. As discussed in the article, when people are force to pay down their debt and cant obtain more due to a tightening economy, the economy peaks, less cash flow, and we head into a recession.     
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