Debt Charge
David Brooks writes today that the main problem facing Americans is our collective issues with debt. And while Brooks is a crotchety old man, this time it seems he happens to be right. We have almost a trillion dollar of credit card debt in this country—many people have a crippling amount. The problem is that somehow we decided that it was ok to buy things you couldn't afford. Call us superior, but in non-emergency situations, we simply cannot understand why you would do this. If you don't have enough money to buy that new TV, then you can't have the TV. It seems easy to blame human nature, but this is a relatively new phenomenon on the scale that it now exists, so let's blame the credit card companies instead.
Posted on June 10, 2008 by - Morgan Clendaniel
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life and debt.
ah, not a shopper. or a college student.
the short of why people buy things with money that they don't have is that they want it. now! because it looks so good and shiny! and they're sure they'll have the money eventually... soon, friday, even, when they get their theoretical paycheck and, theoretically, don't spend a dime of it on food or other necessities.
the long (though that was longer than "the short" should be) is that it's probably not the credit card companies' faults but the american marketing companies' faults for doing their jobs: successfully convincing the public consumer/s that they are inadequate without "_________," so they can say !@#*#&%I% it! about the $"________" price tag, and feel okay about themselves.
until they're in debt. but even then, at least they look good, no? they'll get the money someday.
Posted on June 10, 2008 — by michaelross
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