It really is an underlying cultural problem, an attitude problem if you will. Loans are a great idea as a tool for developing business or for making individual investments (e.g. into education or real estate). In emergency cases, perhaps they're acceptable. But using personal loans to support a lifestyle is imho pretty much criminally absurd. Sadly for every advertisement telling people they can get rid of their loans without paying, there is also an advertisement telling them that their MasterCard is "for everything else", with the underlying marketing for many credit cards generally being very lifestyle-focused.
That's the other side of the coin, I guess. As a culture, we've really lost track of what loans are for.
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There are only forty people in the world and five of them are hamburgers.
-Don Van Vliet (aka Captain Beefheart)
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