Dennis Alexis Valin DittrichMar 13, 2024
Earn More Tomorrow: #Overconfidence, Income Expectations and Consumer #Indebtedness http://d.repec.org/n?u=RePEc:diw:diwwpp:dp2065&r=exp
"… participants with higher income expectations initially borrow more. Overconfident participants scale back their consumption after income feedback. However, they remain in higher #debt at the end of the experiment, which has real financial consequences."
#ExperimentalEcon #BoundedRationality
MKSinSAOct 8, 2023

God I hate #FICO scores and their silly formulations. Paid off my car and house only to be penalized for doing so. Their excuse is that any 'closed account' diminishes one's ability to prove you can pay a debt regularly.

The enslavement of debt is their gospel and, I gotta say, is something we're now schooled to buy into.

The #indebtedness cycle is disgusting and I'm so done with it all!

#PersonalFinance #Finanace
#Banking

Simple Dictionary BotJun 15, 2021
#Indebtedness - The state of being indebted.
Show threadFightTheFascismFeb 3, 2019

"That left #financialisation. Financialisation had a number of key aspects, but three must be stressed.

First, financialisation involved the massive creation of #indebtedness in the population to substitute for stagnant #incomes in order to create demand for goods and services."