Rules of the game

Most Americans and other citizens of the world don't know the rules of the game. We're told we can have all that we want so long as we work hard, save and invest wisely, shop wisely to save as much money as possible.

Based on those rules, we consume as much as we can. We used to consume as much as our savings would allow. Now many consume more and more on credit. 

How much education could you afford for your children if you or they couldn't get student loans?  How many doctors would there be? How many students would get through law school? Now there is $1 trillion in outstanding student loans. Young doctors expect to payback their nearly $500,000 in student loans over 40 years. And regardless of what happens to their earning potential over those 40 years, those student loans must be paid back.