Now I don't feel so lonely. I have no Mortgage or Car Payments, School Loans or Credit Card balances. I like it that way. I accidentally had to pay 66¢ in interest in 2009 and it still irritates me.

But that is not the American Way, so I'll keep my mouth shut and suffer in silence. I need to be able to empathize with Customers and Clients.

Well that didn't work out so well for the subjects of this thread...did it? LOL

lol Very true.

Borrowing for personal consumption vs borrowing to leverage on investments with higher rates of return are different things though.

I've tried for years by living somewhat above my real means by relying on borrowed money. In the last year, we have made the decision to become debt free and stay that way for life.

I agree that taking risk (borrowed money) means greater potential for gaining wealth, but it also means greater risk of losing it all. I'll take boring, slow growth any day over a Las Vegas crap shoot.

It is exactly this attitude, along with the ease in which you can walk away from debt-based obligations in the US that has created the perfect storm we are in now.

Whilst I agree that for many this is the best financial option, morally I have serious issues.

Really? Well who is king of walking away from debt based obligations? Is it really the homeowner? Or is it big business, and BANKING INSTITUTIONS?
Never mind, I forgot, they are free to walk, and we the tax payers will help them stay afloat to see another day...
But Joe Smith down the street? OH GOD NO.
That would morally reprehensible...right?

Here is your answer and it's quite obvious: Who's too big to fail, and why hold some morally responsible and let others walk?