Bankruptcy: The Working Man's Stimulus Package

While numbers are not current, total personal bankruptcies rose 29% in 2008 and business bankruptcies rose 41%. Chapter 7 bankruptcies rose 36%. The headlines are replete with job layoffs reaching record highs, downsizing, bailouts, and general economic chaos.

For the consumer facing personal economic collapse, the motto should be, "no harm, no foul." Look, if the leading corporations and banks in the world cannot make ends meet, why should there be any expectation that consumers can keep their financial ship afloat? We all know that we, the consumer, are wasting billions of dollars by trying to save huge corporations and financial institutions. They are killing us with interest rates, foreclosures, and zero credit. These problems have been generated by corporate greed, ignorance and basic stupidity.

Yes, we must take on the responsibility of our actions. We allowed ourselves to be duped by mass marketing and our own sense of greed. However, fair is fair, at least it should be. The large corporations are taking what little we have and what do we get in return? Layoffs and no credit. Actually, we do not need or even want more credit, we want out of debt. Why should the wealthy few still make their millions while the consumer has a hard time feeding their families? Why should the few take more of our money while we struggle to make ends meet? Why must the corporations get all of the bailout money and the consumer get nothing?

They tell you not to file bankruptcy because it will hurt your credit. What credit? Give money to corporations and there is no problem. Suggest giving money to people and they say, "Oh, that won´t work."

This is all madness. We have forgiven debts of foreign nations, paid corporate debt and given our dollars to banks that use it to buy smaller banks. What would happen if the government said, "We will require that all consumer debt will be reduced by 50%?" What would you do with all of that extra money? That´s how you get the economy moving.

So, for all of you that are worried about going into bankruptcy, don´t. If it is good enough for Wall Street, there is nothing to be ashamed of. The so called brightest economic minds have no clue how to end this crisis. Trust me, clear your debt and watch the credit card offers inundate your mail box. Is this what we want? No. But, feel no shame, there is no foul in taking care of your families. So this is my new definition of "bankruptcy:" the working man´s economic stimulus package.