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Another reason to deal in cash

November 27, 2008

Imagine if you had asked someone to design you a house. The house then collapsed. People suspect the designer was incompetent but you’ve signed the contract and still have to pay the bill. $5.36 million to be exact. All that’s left now is a pile of rubble. Would you pay?

That’s exactly what Hillary Clinton is facing. Her loss to Obama left her up the creek. Of the $7.47 million she owes, over $5 million of it is to one person – the chief architect of her failed campaign.


Moral of the story: Be very, very careful of what you buy on credit, because it hurts to continue paying for something you no longer have. (Are you by any chance still paying for that holiday you’ve long forgotten about, by installments?)

One Comment leave one →
  1. November 27, 2008 10:49 am

    It’s the same for housing loans. If you buy a real estate from an unknown real estate developer, there are pros n cons to it – the cons far outweighed the pros. I would pay a little extra just to see that real estate completed…vs paying a little bit less…but not being able to see the ACTUAL thing. Banks don’t care whether your property is there or not once they’ve handed the $$ to you. What they care is you need to pay them back.

    Yeah, debt sucks but if you have to do it, make sure you don’t end up paying for air.

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