Wouldn’t you just love to have something today with the promise to pay on Tuesday? Sure you would, as this is why credit cards are so popular as we want what we want, and we want it now. No sense waiting as no one is getting younger right, as the hand of time marks the minutes as they slip through our fingers so we should enjoy what we want, right?
This is the same for our ole friend Wimpy, you remember him don’t you, he use to grace the frames of the PopEye (The Sailor Man) cartoons as a filler character who would typically end up in the way of things sort of. However he had a neat little stick for the day, as he use to beg some unsuspecting restaurant proprietor for “a hamburger today, and a promise to pay next Tuesday” as yes while lovable, Wimpy was really a freeloading Freddie.
Yet the under tone of this post depression era character poked fun at the issuance of credit as being a bad thing as all “good” folks paid their debts promptly for the services rendered. Yet here we are today with credit defaults running wild, and people running back out racking those same cards up as buying things is good for the economy right?
Well not if you can’t pay for them, however that isn’t the most concerning aspect of this as what is, is the lack of deferral of gratification (in society) as this has been a staple of man across the ages, yet it’s now in a matter of three generations or so been wiped out. As deferral meant the application of discipline, discipline meant “control” then leads to planning. The lack of this therefore leads to sloppiness, lack of attention and an inability to apply discipline in a constructive manner. This in turn affects our rote ability as a society to improve as the plan, do, check, act cycle is now broken.
As we’ve wained in these pages before, this breakdown will lead to a fundamental loss of social affluence as this was built upon the model of compounding forward. As much like the financial concept of compounding interest, the same is true for the social building block which has brought us the things we have today via a combined “affluence” model which now in the process of serious erosion.
As today, too many people are vying for that hamburger today yet with the full understanding and realization that Tuesday will never come for them, nor the provider of the hamburger…