In some cases, it’s hard to buy the $3000 car you need to make it to your job with no savings. Debt solves the chicken and egg problem when it works well.
When it doesn’t work is people getting fancy BMW’s they convinced themselves they would be able to afford somehow, but I have no idea how often that happens vs just lubricating basic necessary economic activity.
When it doesn’t work is people getting fancy BMW’s they convinced themselves they would be able to afford somehow, but I have no idea how often that happens vs just lubricating basic necessary economic activity.