Wednesday, July 21, 2010
Co-Morons Co-Signing
Hah!
As the economy swoons, many relationships are inverting.
For another example, recall my old post - Do A Credit Check On Your Landlord.
Actually, changes like children taking care of their aging parents aren't really an inversion as much as a reversion. After all, this was the norm for millennia until Social Security and other entitlements divorced the generations.
So I actually applaud any and all adult children who sacrifice for those who sacrificed for them - no matter how crazy the 'old coots' are.
Except I don't consider the extension of credit via loan co-signing to be a wise form of assistance. If someone can't afford to pay cash for a car, they should PROBABLY BE BUYING A CHEAPER CAR. The same goes for housing - RENT CHEAPER.
People simply need to learn to say "no" to their children, their parents, themselves, and to all the marketing propaganda.
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