You've got to be a hypocrite on this one. You've never financed a house or an automobile? Do you even realize that chances are if you're financing a home, there's a foreigner on the other end lending you the money in the form of a purchased mortgaged backed bond. You didn't know that did you? Maybe you should take the time to read that weblink that I offered. Read it carefully too so that you don't miss an opportunity to expand your base of knowledge.
You've got to be a hypocrite on this one. You've never financed a house or an automobile?
Rational financing (borrowing) is good.
Where when and how do you think we will pay back these trade deficits? Which cumulatively are in the 3-4 trillion dollar range? Your house will be paid off in 20-30 years and your car, 5 at the most. People love it when the mortgage is paid off and some burn it at a party. They are finally off the hook and debt free. This is not how the American nation is behaving when it comes to trade deficits