Rachel, damn well said. The US Government allowed credit providers to near have free reign across your country, no doubt they hid behind some constitution or the like as an excuse. How I perceived it, a few wanted to get rich so they allowed it. The Government has to exercise certain rights and responsibilities, firstly being what is in the best interest of the public, not themselves. I will use Australia as an example. Some people believe Australia is harsh with our laws, but if your Australian you don't see it that way.
America has the second amendment, right to bear arms. Australia it is illegal to own a firearm unless specifically approved and licensed through the Government. You cannot just own one for the sake of owning one. If your a farmer you will typically have a license. If you are a registered member of a sporting firearms club you will be allowed a license to hold those arms only. Typically, those weapons remain at the club though secured in their armoury. If you take them home in Australia... well, let me just say it is easier to leave them at the shooting club. Now this is an example; please do not take it and run off-topic with this point. The point is, what one country views as a right another views as a hinderance. Lets be honest, Australia has far less firearms related issues than the US. The reason we have that is because the Government had to act in a manner appropriate to the publics well being, not what it thinks is right, but take in all sides of an argument and make a decision based on conclusive outcomes, other countries experience, etc. Australia cracked down on weapons mainly because the problems from the US where enough to make sense that weapons are not a viable solution to put in the publics hands. It creates more issues than not.
Now, take the example above and apply it to credit providers. Again, do not use the above paragraph in this thread, as it was an example only, not a debate. Australia stopped credit providers from trying to do what they did in America, bypassing the laws for sufficiency to repay a loan. They tried to get around the very processes and calculations required against a person in order to obtain credit that protects the consumer and country as a whole from bankruptcy. They failed miserably. Australia laxed a few laws for those who have bad debt, in that they can obtain a small loan during that time in which they can prove they can repay a loan. If they fail again, you just won't get another. If you show you can repay a small loan if you endured previous issues, then you may get one though it still depends on your income and any debt, which includes expenses such as rent, utilities required to live, food, car running costs, etc etc.
The American Government can always change their laws, and the population should be pushing them for it. Push the Government to force a change in laws so that credit companies cannot provide loans to those who cannot prove they can live and cater a loan. Sure, damage is done in the US from credit providers free ability, their ability to manipulate senate for changes so that even bankruptcy doesn't remove credit card debt, but the laws can change if the laws are made tougher in the first place. Sure, it hinders some progress in a country, but it also eliminates a lot of risk from a country sending itself broke through consumer debt.
Australia made its laws tougher for a reason, because as a Nation the population wanted out of debt, which the country achieved a couple of years ago now. No foreign debt... totally owned country. America as a population IMHO should be aiming for the same thing.... freedom has a price and the USA is suffering that price. Freedom vs. best interest is debatable... and some things must be rules strictly because if let free in the consumers hands will be abused every single time because the consumer has less control than the Government as a whole.
I would love to see the USA become a tougher country... tougher on itself and cease all this freedom nonsense that has put it in so deep that the country will never realistically own itself, instead foreign countries will own the very nation, where the nations citizens should own the country through investment, employment, good internal growth and stead wealth. That is how a country removes its debt, internal growth and stability. It is a shame to see the US go down, but I as an outsider certainly hope to see the citizens of the country unite for massive change in Government policy and law. Instead of fighting what IS working in other countries around the world, adopt experience of others and take the best parts, remove the worst, make changes for the better of the nation... not political self.
Our politicians pay is now being cut even, as citizens have had enough of political pay rises and enough have roared to make change. The PM is cutting back on politicians pay and allowances, cutting it way back and making them very accountable for every cent of public monies. We have politicians being sacked here for even trying to spend public monies for self gain... very strict here, though good as it removes abuse as a majority. Yes, you will always have someone who will try, but they get caught here. There are a lot of countries who are very strict in Governance, all of which is only helping those countries grow internal wealth and keep growing populations in control.
Lets face the facts, world populations have sprouted over the last 100 years, and controlling that influx is not through relaxing laws, instead tightening them to give much less manoeuvrability.
My two cents.... again, please do not use the guns aspect as a topic of discussion in this thread, as it was used only as an example.
