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If the world runs on credit why do I need to stay out of debt?

Asked by tinyfaery (44104points) February 1st, 2009 from iPhone

“Experts” seem to imply that it’s bad to be in debt, but the entire world runs on credit. If no one had any debt the
world would collapse. If this is the case, then why do I need
to get out of debt? Or maybe I
am understanding economics
all wrong.

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