We forget how we got here to this economy to begin with. Credit got us here. Selling something to someone who can't pay for it NOW was a false sign of things flourishing because on the back end, if someone didn't pay, then it wasn't a real sale to begin with. Capitalism supported this system because it made money in the moment for so many but the back end remains questionable
WALL STREET MADE $$$
Credit gave us a huge BOOM when introduced. People couldn't believe that they could have what they saw right there and then and a new industry was born. As long as there were jobs, it made sense. But the minute you stop paying, the whole system fails pretty bad.
THE LESSON IS IN OUR FACE
Look at the housing crisis. Tens of millions and counting heavily are not paying for their homes, their cars, Rv's, jet skis, second homes, remodels, boats, and fur coats. Now, other industries are flourishing like Collection agencies, bankruptcies, foreclosures, flipping teams, evictions companies and the like. They are thriving on the downside of people failing. I cannot help but think of buzzards consuming the carcass of the dead here. (sorry)
ROLLING BACK TO ALL CASH
Here is where it becomes a little complex. If we all start living within our means, unemployment will stay with us longer and remain stronger. There will be less demand for goods which means no work for those who make it, ship it and sell it. So, for America, this slows us done as a country
FOR THE STARTING OVER CROWD
But for the individual, we are free now. We don't owe anyone anything and can live a life closer to normal. Being in debt goes against human nature. The native Indians couldn't believe that someone could own a river or lake. they learned to JUST use things and not own them and go with the flow.
THE SIMPLE LIFE
We need to all get back to what we can handle and not leverage our lives to the point where we are stressing and living to pay for things that eat us alive everyday with worry.
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