Debt part 1

In a time when the economy seems to be taking a nose dive. I noticed something interesting. The feeling is it’s just one more recession we have to weather out. In a few years we’ll be back on track. Somehow things will sort themselves out. It’s cyclical and we’re just on the downward side of the swing.
We live in such a make believe world that we have lost sight of reality. There’s a button on the dash of space ships called the warp speed button. I’ve asked numerous 20 something year olds if they thought the button was technically viable. Invariably they would argue that it is possible. I guess if you see it on TV enough times it must be true. Talk about a real estate bubble, we live in a reality bubble or should I call it an unreality bubble. Unfortunately it’s about to burst for a lot of people.
The U.S. is 16 trilllllllion dollars in debt! And it’s not going to go away all by itself. We have had a bad debt addiction for to long and it’s coming home to roost. The economy is not going to just turn itself around without a complete change in the way we do things.  Europe has the same problem. They are hopelessly addicted to socialism which is another form of spend now pay later. Well later has come home to visit them and he wants his rent.
Yesterday I got a phone call about someone who lived with us about 8 years ago. He ran up a credit card then decided not to pay it. 8 years later we are still getting regular calls trying to locate him. I think he thought if he closed his eyes long enough they would go away.
There are consequences for our every action. We must take responsibility for our debt addiction and begin to practice living within our means. Cut the credit card in half. Don’t spend more money than you have. It’s as simple as that.

2 thoughts on “Debt part 1

  1. Well said. The difficulty is that our culture has trained us that we are entitled to constant pleasure and gratification. When the flow of pleasure dwindles we scream. There is this perception that we have a right to a nice easy life with every pleasure this earth can afford. In fact we have no such right. When we are feeling down, we have no right to go and spend someone else’s money on shopping therapy in an attempt to pick ourselves up. When we feel under appreciated, we have no right to spend someone else’s dime on cars and clothes to get noticed. We have no right to our own home, nor a right to designer furniture, nor a right to any material possession.
    Instead we have a responsibility to our children, grandchildren, and country. To contribute, to produce, to provide, to give, to generate wealth for their benefit. Ironically, when we give and fulfill our responsibilities in such a way, I think we end up being more satisfied with our life anyways.

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