If bad credit created the recession, isn’t it a bad idea to borrow more money to solve the credit problem?
Posted July 17th, 2010 by admin 7 Comments »
Agent Smith asked:
We hear about all the plans to pump more money into the economy by borrowing more money. Whom are we borrowing the money from and if doing business on credit has pushed us into a hole, isn’t it going to push us further down if we try to solve the problem by borrowing more money? Isn’t it like using gasoline to extinguish the fire. Am I missing something? Please somebody enlighten me.
We hear about all the plans to pump more money into the economy by borrowing more money. Whom are we borrowing the money from and if doing business on credit has pushed us into a hole, isn’t it going to push us further down if we try to solve the problem by borrowing more money? Isn’t it like using gasoline to extinguish the fire. Am I missing something? Please somebody enlighten me.