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Some consider all Debt incurred for anything else other than investments is unwise, while others believe that consumer credit is beneficial in growing the Economy . The most common form of consumer debt is Credit Card Debt , Payday Loan s, and other Consumer Finance , which are often at higher Interest Rate s than long term secured Loan s, such as Mortgage s. Long-term consumer debt is often considered Fiscally suboptimal. While some consumer items may be useful investments that justify debt (such as Automobile s, which are usually but not always exempted in discussions of ''consumer debt'', and business suits), most consumer goods are not. For example, incurring high-interest consumer debt through buying a big-screen television "now", rather than saving for it, can not usually be financially justified by the subjective benefits of having the television early. An Alternative Analysis might view consumer debt as a way to increase domestic production. If credit is easily available, the increased demand for consumer goods should cause an increase of overall domestic production. SEE ALSO EXTERNAL LINKS |
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