COUGAR12 I think you are sounding more like the thinking of a 12 year old. Personal banking, loans for an automobile etc., are small potatoes and quite outside our discussion on the macro economy of large companies requiring loans and banking facilities.
You are quite correct in saying that in a personal way we should live more within our means, buying as much as possible only what we need, and can afford. That may be forced a little more upon us by the new financial order.
I don't think my grandparents ever had a bank account or went inside a bank. So, as individuals, we don't need a bank.
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