Well folks the numbers are out, and personal credit debt grew by a whopping 18.9 Billion, yes with a “B” in the second quarter ironically as did unemployment as there seems to be no stopping the personal debt monster from growing out of control. Assuredly you all can guess what this means as yes folks we have not seen the last of the bad times and as much as I would like to sit here and prognosticate the world is headed back to the nirvana of the days of old, it instead is readying itself for yet another roller coaster dip.
While some might say, hey unemployment is driving people to the further evils of the plastic monster and while partly true, statistically it does not pan out ratio wise. What is then we have to ask ourselves and the answer is one which is not that pleasant to face up as its one of entitlement and abandonment. Yes folks have grown so accustom to “have, have, have” at all cost they have forgotten the costs and that the piper wants to be paid. As this is the first part of “entitlement” the world owes them something for being, so therefore they feel the rights to take what they wish.
The second is the “abandonment” of the associated responsibility created by the “I deserve so therefore I will have” attitude. As the new debtor views credit as a throw away commodity, to be used, abused and discarded just as yesterday’s newspaper as like the “newspaper” there will be another [credit card] at their doorstep the next morning.
Yet the issue here which is growing is the fact that the more people who are overcome by this debt based virus, the fewer people there are to feed the beast and trust me the “beast” will feed. As many of these turn to this dump and run ideology may are justifying it as they are putting it to the man, yes they striking them with a swift upper kick to the family jewels which will assuredly bring them to their knees with tears in their eyes.
However in reality the ones that are taking it to the testicals are us, yes the working class folks who are keeping our plastic in our pocket, paying our bills and putting a few dollars away for a rainy day. As with shop lifting (which is what this is) that appears victimless, is in fact simply making the rest of a victim of their entitlement based life style.
With this said, it’s also up to us (the working class bill paying folks) to speak up when we see this, as this has become a socially accepted norm which is a bad thing as would we sit there if someone we knew was a shoplifter and we said nothing about it as they did it…