Brother can you spare a dime?
Alan E. Moses
November 20, 2006
Something not heard since the Great Depression and I believe never again as it should be stated as “Grandchildren I have already borrowed, not only from you but your children too”. It is to me a sad state of affairs as our government and we the people just keep borrowing as if it is okay to continue down this path. Many believe that since the economy appears to be strong that this situation is of no significance. This could not be further from the truth.
As of June of 2006 the United States government recorded a debt of 7.9 trillion dollars. Now include business and individual debt this climbs to 44 trillion dollars. Then put the fact that 30 trillion of that occurred in just the last 15.5 years with no signs of slowing down. In this same time period credit card debt has risen by 214% in conjunction with the most bankruptcies since there was an ability to file for this protection from debt. Wouldn’t it be nice if our government could file for bankruptcy? Do a restructuring such as big business does.
Many nations of the world gain free debt reduction or debt removal when it becomes obvious that they have no means to pay. This solves their problem yet creates higher costs and therefore higher debt for everyone else. The same as when we or a corporation is granted relief via bankruptcy. There is a time that comes when we can no longer keep this up. This cycle must end and it is now.
It seems as though using cash is a thing of the past and yet the use of credit is the most costly. When a person in line in front of you uses a credit card the price paid is from 1.5 percent to 7.5 percent less as these credit card companies take their percentage of the sale. So in fact you pay more with cash as these credit companies take their cut. The company that you deal with allows the creditors to take this cut. The fact is that when a credit card is used these entities pay less than the price so lowering the profit for the company.
I always think why not demand that this company lower the price by the same percentage to cash buyers. The product or service paid for is reduced by the same amount as the credit card companies charge. My God it is cash not a bank transfer. Yet by using cash you are paying more up front. And this is a bad thing in our system today. One day I will stop everything at a store and demand that I receive the same discount as credit card holders receive. I bet that a majority don’t even know this fact.
Our system demands that you participate in the banking system and insurance industry. We are forced into the capital system of debt accumulation. There is no choice as this is the way capitalism works. You pay not only the producer but a bank receives its cut. Think about that when you cash a check as you pay 5 to 10 dollars for a two minute transfer. I am suggesting that the banking community is costing us our future. To borrow is to lessen our economic strength.
I also ask how a nation that is in debt can give aid to other nations. This is done all of the time as our country spends billions each year in aid or guaranteed relief and military gifts. As this problem continues it will only increase our debt. I ask how a debtor nation can loan others money? If you owe then how can you loan? Good question or not. Time will tell the tale as we Americans just keep living above our ability to pay. No I should put this straight, as the world is on the wrong path. We do what the rich want and borrow as they make millions. You just fall further in debt.
Our national and personal debt should be corrected. Live as you can afford not as we want. All of the technology allows us to spend beyond our means. Our system demands that you borrow. Paying cash is a thing of the past. But can you say that you have no debt. Let us fix our situation and correct this. No more credit as you pay as you go. Simple in theory but hard for a buying government and people.
As of June of 2006 the United States government recorded a debt of 7.9 trillion dollars. Now include business and individual debt this climbs to 44 trillion dollars. Then put the fact that 30 trillion of that occurred in just the last 15.5 years with no signs of slowing down. In this same time period credit card debt has risen by 214% in conjunction with the most bankruptcies since there was an ability to file for this protection from debt. Wouldn’t it be nice if our government could file for bankruptcy? Do a restructuring such as big business does.
Many nations of the world gain free debt reduction or debt removal when it becomes obvious that they have no means to pay. This solves their problem yet creates higher costs and therefore higher debt for everyone else. The same as when we or a corporation is granted relief via bankruptcy. There is a time that comes when we can no longer keep this up. This cycle must end and it is now.
It seems as though using cash is a thing of the past and yet the use of credit is the most costly. When a person in line in front of you uses a credit card the price paid is from 1.5 percent to 7.5 percent less as these credit card companies take their percentage of the sale. So in fact you pay more with cash as these credit companies take their cut. The company that you deal with allows the creditors to take this cut. The fact is that when a credit card is used these entities pay less than the price so lowering the profit for the company.
I always think why not demand that this company lower the price by the same percentage to cash buyers. The product or service paid for is reduced by the same amount as the credit card companies charge. My God it is cash not a bank transfer. Yet by using cash you are paying more up front. And this is a bad thing in our system today. One day I will stop everything at a store and demand that I receive the same discount as credit card holders receive. I bet that a majority don’t even know this fact.
Our system demands that you participate in the banking system and insurance industry. We are forced into the capital system of debt accumulation. There is no choice as this is the way capitalism works. You pay not only the producer but a bank receives its cut. Think about that when you cash a check as you pay 5 to 10 dollars for a two minute transfer. I am suggesting that the banking community is costing us our future. To borrow is to lessen our economic strength.
I also ask how a nation that is in debt can give aid to other nations. This is done all of the time as our country spends billions each year in aid or guaranteed relief and military gifts. As this problem continues it will only increase our debt. I ask how a debtor nation can loan others money? If you owe then how can you loan? Good question or not. Time will tell the tale as we Americans just keep living above our ability to pay. No I should put this straight, as the world is on the wrong path. We do what the rich want and borrow as they make millions. You just fall further in debt.
Our national and personal debt should be corrected. Live as you can afford not as we want. All of the technology allows us to spend beyond our means. Our system demands that you borrow. Paying cash is a thing of the past. But can you say that you have no debt. Let us fix our situation and correct this. No more credit as you pay as you go. Simple in theory but hard for a buying government and people.
Print
Email
