Humanitarian crisis in Venezuela

[krichardson]

I only hope that certain lessons are learned from these type of occurrences. Things like this should open eyes, ears, and mouths if you get my drift

Oh I think that I do.

 

[skjl47]

I only hope that certain lessons are learned from these type of occurrences. Things like this should open eyes, ears, and mouths if you get my drift

Hello; I guess an example might be the "liar loans' made a decade and more ago. Someone gets a house on a time loan knowing they cannot make the payments. The loan officer knows they cannot make the payments. The bank officers know both the house and the borrowers are not good risks but the housing market has been going up steady for many years. The anticipated increase in equity will cover everything when the borrower cant make the payments because the home is expected to be worth more and the next buyer just borrows more money. And so on and so on until the magic stops.

Well the magic stops from time to time both at the individual scale and the nation scale.

What descriptor can be used for someone who keeps all their credit cards and lines of credit maxed out? Someone who does not pay a penny toward the principal of their loans, mortages and such but only pays the interest that is due. That borrows even more money just to keep up with paying only the interest? ( Note - I get that an individual cannot get away with this scenario because the banks will cut them off at some point.) ( Best I can do and hope to stay within the restrictions of the forum.)