[Lorianne]

Being debt free is a lot better than being up to your hair follicles in debt but owning stocks and continually crowing about how well you are doing. One slip of the market and these people are toast ... except they’ll want to be made whole by someone.

[cripplecreek]

One slip of the market and these people are toast ... except they’ll want to be made whole by someone.

Like bailing out banks and automakers. Unfortunately such things make "little" people poorer and poorer.

My great grandmother used to talk about the depression. She said they did fine because they lived within their means and didn't build up debts on the farm. My great grandfather on the other side went into debt up to his eyeballs trying to be the big man with the most land, finest equipment etc. By the time the depression was over, they were living in a barn at at the first great grandparents home.

By the time I came along all 4 great grandparents were very frugal people.