Quoting Removed, click Modern View to seeRyan, the thing that is wrong with continuing to borrow more & more to pay interest on current & future debt, is that you quickly run into the situation where all income goes totally toward paying interest, none toward principle. At that point no more borrowing is possible, as the income isn't even sufficient to pay interest. Boom! We should have never been in a borrowing situation to begin with & the sooner we get away from such foolishness, the better off we will be. At least, then ALL income can go toward paying for services rather that toward interest to lenders, where is buys you & I nothing.
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Today's Featured Article - Good As New - by Bill Goodwin. In the summer of 1995, my father, Russ Goodwin, and I acquired the 1945 Farmall B that my grandfather used as an overseer on a farm in Waynesboro, Georgia. After my grandfather’s death in 1955, J.P. Rollins, son of the landowner, used the tractor. In the winter 1985, while in his possession the engine block cracked and was unrepairable. He had told my father
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