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May 13, 2007

Poor Inc.

Businessweek did a story on the working poor of america. These stories always interest me. While many people are interested in the well-to-dos. I'm interested in the "well, I do not..." The working poor...

Two individuals they focus on in the story are sisters. Their dad left them a house free and clear. He paid it off, the remaining $60k before he died. Within a few years the two sisters amassed 170k in debt and are thinking they may have to sell the house. They can't afford it. Both work jobs. These stories are so sad, but you have to wonder if these stories of financial calamities are preventable? What happened here? What unfolded? A series of bad choices? Bad luck? Both?
 
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