Quote:
Originally posted by cthulu23
The banruptcy rate has been ballooning. In fact, the Bankruptcy Reform Bill was passed due to the growing "abuse" (use) of the system.
Follow this link for some numbers. The link is from the Cato Institute, who I don't agree with on most everything, but you can't dispute hard numbers. Notice that the number one given reason for bankruptcy is credit card debt. Is this the healthy expression of growing wealth that you speak of?
Perhaps I find your reasoning "laughable." You talk in generalities about wealth growth without giving much backing evidence. Perhaps you are right, but given that you don't feel that it's worth your while to grace us with an analysis, we may never know.
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Bankruptcies are far from a huge problem at this point and the statistics you quote are from 1996. Is there growing abuse within the bankruptcy system? Absolutely and these "fake" bankruptcies need to be factored out of the "real" bankruptcies. But why bother with making them applicable to the argument at hand, right?
Thank you for proving my earlier point about real economic analysis being a waste of time given the audience. You have no desire to learn the truth, you only want to prop up the poorly thought out economic "truths" du jour.
I suspect we have nothing more to talk about as you scream for evidence before you will believe something which has been clearly laid out yet you were perfectly willing to go along with your own evidence which was proven to be inaccurate.
