I bought this book after I heard the author on NPR. It shows how the credit card companies "hook" in young college students with promises of low "teaser" rates and "no payments" for certain amounts of time. The companies market heavily on college campuses, and unfortunately many people get into trouble. I am not totally blaming the credit card companies-parents need to teach their children financial responsibility, which the book also acknowledges. The book doesn't just focus on college students, but others as well who get themselves in debt with credit cards. There are some statistics, etc.. which are not too cumbersome for us "non-economists", but all in all it is a very informative read-a good graduation gift for kids starting out on their own, as well as for those who want to know how people do end up in the unfortunate situation of massive debt, and bankruptcy. Several people were interviewed for the book, and their stories are harrowing.

Robert Manning did very objective homework, analysis, and research, in this very interesting book that most of us, myself included, can relate to. I fit the statistics of the American consumer studied. This is a realistic book most Americans can benefit from. I have never considered myself to place a high value on material things, but I have used credit cards in the past to get "this or that thing," later to implicitly acknowledge it wasn't a necessity. And, I didn't really use the things I purchased very much. This is a reader-friendly book. The credit card industry is comprehensively studied. Corporate debt is also examined, and the loopholes that exist to basically erase and forgive these debts is explained. (Someone is getting a free ride.) Our government is in massive debt as well as most of us are aware. The U.S. in actuality operates on a credit card and that is covered.

In the last several years we Americans have witnessed, and been lucky to have participated, in one of the most robust economies in decades. Steady economic growth and high consumer confidence, while incomes rose, with low interest rates, and unemployment at record low-levels. Fact: We Americans on average are in more debt today than ever before in our entire history. And the recent ballooning of our debt has occurred very recently. Why? Are we living too high, beyond our means? Yes. How do we give ourselves and others the impression that we are doing O.K. financially? A: credit card and/or personal loan. We can show off our toys, and don't need to explain that we don't really own them. Most American folks today assume that we don't own most of the things that we have.

If the economy slows down enough a lot of people will be in for a shock, unable to cover enormous amounts of debt they have accrued. Bankruptcy laws have recently been changed by Congress to legally force those filing for bankruptcy to pay most of the debt back.

I'll be sitting back and laughing at these people, living my spartan lifestyle, completely happy and fulfilled.

Robert Manning has provided a vital service to our nation...for many years I was caught in the credit vise, fortunately I entered a counseling program and paid off $30,000 in consumer debt, which I would have been saddled with forever.

Sadly, a great portion of our national wealth is consumed by the banking industry, earning it's greatest profits from those who are the most vulnerable.

Can one survive without credit cards? I am living proof that says "absolutely." The credit industry would have us believe that their cards are a necessity. They are not. Mr Manning goes into great detail explaining the reasons we got to the point that college students with no income receive multiple offers for credit and get into deep debt, some with tragic circumstances.

Read this book if you have ever used a credit card or anticipate educating your children about this important subject.