Hi Michael,

> I'd like to hear your own theories. Throw
> them out for all of us to see. Each
> "reason" is another ingredient for
> the info-soup.

Okay, you asked for it so if I ramble - you're taking the blame.

Having nothing (especially debt) can be very liberating. Think about it, many imigrants come from extremely poor countries looking for a better life and don't take for granted all that we do. Instead of spending their earnings to pay debt(for items that could be considered luxeries) or keep up with the Joneses, they invest in themselves and the basics. There are so many things people think they need simply because the have always had it or becuase someone else has it.

Here's an example of the difference. A kid moves out of his parents home to live on his own. He gets cable, an entertainment center, new car, eats out, etc. and goes into debt - why? Because that is what his parents did but what he doesn't consider that either they are carrying a lot of debt (and that money could be spent elsewhere) or that they slowly worked up to the point where they were able to afford the extras. Then he sees other people have things and he thinks he needs them to.

An imigrant comes to this country with nothing (and usually not having had all these extras) and worries about the basics. He then invests in himself.

Tam


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