Zeev's Turnips Patch-No Politics (ZEEV)

[Bullwinkle]

Hey Cap,

Actually it was my thought process that leads me to believe a good portion of debt is due to plastic and if people were able to write off that interest they might actually use the return to pay down those cards. Also those who do not own homes or go through the re-fi process could take part in reducing their debt. Although to me a home re-fi seems to be nothing more than borrowing from Peter to pay Paul and thus no real reduction of debt, just consolidation.

Of course whose to say that the credit write off refunded would go towards the reduction of debt, but I believe people in general would rather get out of debt as opposed to just shuffling debt. Sure, consolidation and locking in that lower rate is a good thing, but it seems as though the re-shuffle is more or less just to keep ones head above water, no?

Happy Trading,
Bullwinkle