It’s All About the Money
July 24th, 2008 Posted in Uncategorized
It’s true, our economy is having some stress at the moment. No one likes gas prices hovering around the $4.30 range. Companies going out of business, home prices at their all time high and being foreclosed on everywhere. Banks being shut down because they are out of money! Life is crazy. Because we are who we are, we must blame someone. But who? Is it the evil gas companies? What about George Bush? He’s really to blame right? Who is really to blame for all the bankruptcies and credit crunches? Well, here are a few of my thoughts, and you can tell me what you think.
This is really the first time in our recent history that we have had any kind of national or world-wide financial trouble. We are a very forgetful species. Usually it only takes one generation to forget what happened. And because of our forgetful nature, we don’t remember what it is like to really struggle. This kind of memory is at the root of our financial situation. There are many reasons we are here now, and not likely to get out any time soon.
Instead of working for what we want, we work for what we have already got.
Do you realize that we are addicted to debt as a country? If the national debt is not enough proof, our societal habits should be. Everything is about credit. Credit cards, student loans, car loans, home loans, second mortgages, computers, lasic surgery, quick cash, payday, and all the infinite store credit accounts you can get prove we don’t want to work in order to get something we want, but we are constantly working to pay off the debt we already owe. And many times, we are still paying off something we no longer have.
We are encouraged to spend all we have
Not only are we bombarded by constant junk mail on the latest deal for credit (if you call 24% APR a good deal), we are even encouraged by our government to spend all we can. Economic stimulus package? “Here is some free money. Now please go spend it as fast as you can.” Where does that money come from? It comes from us! It is either paid back in taxes, added to the national debt, or printed and inflation goes up. But it’s good for our economy!
Debt is encouraged instead of discouraged
Bankruptcy. Does that word scare you at all? Not much any more. In fact, we can look out over the tightrope and know, that it’s ok if we fall! Go ahaid! Buy a house that you can only afford if you get that raise next year and NOTHING else goes wrong. You can always claim backrupcy if anything happens. In fact, most people will not even penalize you if you have claimed banckrupcy over 3 years ago. I personally know many people that have claimed bankrupcy and some who have 3 or more times. If you know there is no real problem to go too far in debt, there is no fear to make terrible choices.
That used to be a want, but today, it’s a must have
My parents worked for 20 years for what they have. Not only for what they have, but for what I have. No child wants to go down in economic class when they move out for the first time. Cable or satalite TV is a requirement. A new car can be leased so I can afford it. Cell phone, LCD TV, and on and on. These are no longer luxuries that should be worked for, but necissities that can be worked off. I can get it all with one loan.
Is there any suprise why we are in the financial situation we are in. But of course, I am the exception to the law of averages right? I will win the lottery!