No Credit

[Sonic247]

On talk radio they were talking about bank reform because too much money was lent to people that aren't going to pay it back. Plus assets are decreasing in value. What do you think would happen if hypothetically credit didn't exist at all starting tommorow. It would be a dramatic change but would America survive and maybe even become stronger in the end.

 

[dust1n]

I would certainly think that it would be a positive thing (although, it would take awhile.)
I think there is something fundamentally wrong with the wealthy loaning money out to the poor with interest accumulated.