On Mon, Jul 26, 2010 at 8:31 PM, Wayne <wmc_st@xxiii.com> wrote:
> On 7/26/2010 7:46 PM, Douglas Braun wrote:
>>
>> The classical problem here is that somebody needs a car to get a job,
>> so they will have the money to pay for the car.
>> Sort of the same reason businesses need to borrow money.
>
> Yeah, that's the problem I see too. B A "reasonable" amount of debt is sort
> of a necessary evil, unless you're "old money".
>
Ramsey isn't out to give financial advice. He's out to make money.
Pretending that the world is black and white and saying that debt is
always evil lets you sell books and classes. Telling the truth, that
finance is complicated is a much harder sell. People who are willing
to be told something as basic as "don't spend money you can't afford
to pay back" aren't willing to do complicated things like work out the
future value of money, or figure the opportunity cost of car
breakdown.
--
David Scheidt
dmscheidt@gmail.com
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