I'm not advocating the total elimination of credit. People used to use "lay-a-way" to buy and bought houses they could afford, lived within their means and we had a very healthy economy in the 50's, 60's and maybe even the 70's. Credit was gradually getting out of control in the late 60's. i was offered a credit card in college!!!! So it took awhile, however, the "advantage' of credit in our society has finally caused the bubble to burst and no one can afford to help the economy as they are all in debt to their Credit Cards .... even the employed are too busy paying of debts in a panic to buy anything and the Middle Class has borne the brunt of all of the "easy" credit in housing, consumer credit, insurance, etc., etc., etc. etc., etc.

There could be a good balance between capitalism and socialism. Neither system works and too many people have suffered and are suffering as a result of this.