Growing up in a developing nation gave me the discipline on using credit cards. People in poor countries don’t trust credit cards. I remember getting my first credit card only after I had a good job. But since my parents brought me up with a mindset of living a “debtless” life, up to this day I’m very uncomfortable leaving balances on my credit card. And that’s how I’ve always lived my life here in the U.S. I always pay my credit card balance in full. I don’t charge anything I can’t afford. My only debt is my mortgage since I paid off my car way back.
Unfortunately, most Americans have a different mindset. Most young people are conditioned to use credit cards even before they have jobs. Even children are trained at an early age to buy stuff and accumulate toys, while most adults are trapped in the debt rabbit hole. Combine the hysterical mass credit conditioning, greedy lenders, less government oversight and regulation, the housing bubble and we’ve got ourselves a subprime mortgage crisis which is now pulling everyone of us into a black hole of economic uncertainty.
No wonder we have a $10 trillion national debt. Aside from leadership without any vision and brain dead partisan politics, America’s collective mantra has been “In Debt We Trust“. One way to get out of this credit mess is through collective awareness. That’s why every American has to see this documentary.
On a personal level I’m glad that, except for my mortgage, I don’t have any other outstanding debt. On the other hand, we’re all interconnected so this gives me little satisfaction and security. We’re all in this together. Our financial world is flat and we’re all headed to a place marked “beyond here, be dragons.”
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Comments (3)
dont have a credit card… only debit… but i do understand the depth of all this and sending energy to everyone cuz as ur say we’r all in this together ^.^
Hi,
I know you are busy, ( Or may be I dont..) I have hardly been sleeping last 28 days, trying to think through a solution to some life problem, my mind has given up.. I read black swan long back..I agree with what you say..but you know what, I think I am tinkering and trying to find the solution ( which is not a bad thing per you) , but what should I do, not think ( meaning not tinker? ) isn’t thinking (tinkering) a good thing .. just getting confused.. If you could help me here will be great.. Thanks
Prithu
Whilst I agree with most of what you have written, the flipside to not spending can be hoarding, I have known several people approach the end of the road and suddenly realise that for all the money they have, despite all the savings they have made how they wish they had spent just a little more collecting memories whilst they could ( a classic case being Mr Scrooge). Clearly it depends what you spend money on, no amount of TVs or cars are going to enable you to look back on life with a satisfied smile but spending money to enjoy time and expeirneces with friends and family is rarely a waste….
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[...] “Weak Theology”. Is God a be-ing? Or is God an event? Or is God a verb? … ~c4Chaos recommends “In Debt We Trust”, saying: “One way to get out of this credit mess is [...]