>>>>>so he went back to school on someone else's money (yes, he borrowed it - which makes it someone else's dime). (Hmmm....could those school loan repayments be part of the problem, or was he one of the ones who got most of it 'forgiven'?) Still couldn't live within his salary so he went back to school yet again - on someone else's money.
>>>>
>>>>Credit is not "someone else's dime", it it a deferred payment with a price (interest). It is your own dime paid at a later date.
>>>
>>>And this money that you are lent just appeared from no where?
>>
>>Today? Yes! The money appears from thin air, see QE.x for reference. ;)
>>
>>Not to be funny but all US currency appears from no where since we went off the gold standard. All non-material backed currency itself is a promise only as good as the world believes in the strength and security of the entity of origin.
>
>but let us not forget under which prez and party the gold standard has been put to rest.
>While I agree with the base conservative (/rep) ideas of small gov, some of the biggest blunders
>have been made under conservative rule - over here as well ;-)

I was pointing out the reality of non material-backed currency, I was not rendering a judgement on the practice.