What would happen if the U.S. banned all loans, including auto loans, mortgages and credit cards?

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What if you could not buy things you really afford?

  1. Reply
    May 16, 2011 at 6:15 am

    Many would be riding camels to work and sleeping in cardboard boxes.

  2. Reply
    May 16, 2011 at 6:52 am

    Then the economy would be broke and people wouldn’t have credit card debt.

  3. Reply
    nate dogg
    May 16, 2011 at 7:30 am

    the world would go to hell, and we’d become a 3rd wold country.

  4. Reply
    May 16, 2011 at 7:40 am

    Michael Moore would make another funny movie

  5. Reply
    May 16, 2011 at 8:03 am

    A lot more crime.

  6. Reply
    May 16, 2011 at 8:12 am

    Chaos and lots of other bad stuff.

  7. Reply
    May 16, 2011 at 8:42 am

    I would be out of a job! (I’m a bankruptcy specialist, lol)

    But I think it would have a positive effect on many people and would generally be a good thing!

  8. Reply
    May 16, 2011 at 8:58 am

    Our economy would collapse, and many countries would go down with us.

  9. Reply
    May 16, 2011 at 8:58 am

    The worst depression the world has ever seen and millions of people starving to death.
    The world depends on our economy and our economy depends on loans and credit.

  10. Reply
    Ben H
    May 16, 2011 at 9:31 am

    Well banks would go under because they would be unable to turn any real profit. People would live simpler lives, the cost of a home would come drastically down because people couldn’t afford to buy them.

    Most people would be forced to take the public transit system or ride bikes. Since few could afford a car, the auto industry would collapse in the USA and companies would be providing low cost alternatives such as mopeds and those motorbikes that can carry people on the side.

    Life would be simpler and people would largely be debt free. I mean who is going to offer a loan if they aren’t payed interest on it? The rich would become vastly richer and the poor would become much poorer. Without the opportunity to gain any financial aid, it would be almost impossible to start up a business or get funding for any products or initiatives.

  11. Reply
    bob shark
    May 16, 2011 at 10:12 am

    The Economy would Crash
    The Economy would spiral into deflation

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