edkwon
Forum Addict
In the wake of the massive credit collapse and stock market crash in the USA and its domino effect on the other major world markets, it just made me wonder, outside of the US (EU, Asia, central asia, africa, whereever you are from) how much do you (meaning the collective you, not you as an individual) people live off of credit instead of solid cash. Obviously in the US, its WAY TOO MUCH, seeing ppl of low to moderate income buying relative luxury items (big screen tvs, large SUVs, houses) that are clearly well beyond their normal means, how much of that irresponsible spending is present in your countries? I'd imagine in some parts of the EU credit card use is pretty similar to the US, but i know for example many Chinese immigrants here do not believe in credit at all and its cash or nothing.
What say you folk?
What say you folk?