Posted by: coastcontact | December 7, 2013

The Great American Society

Black Friday at the mallWhat a great society we live in, in the United States.  The Associated Press reported that Consumer borrowing rose $18.2 billion in October.

The article is a celebration of American’s willingness to go into further debt.  For October the report says seasonally adjusted debt has reached $3.08 trillion.

It’s all because we are a consumption society.  Whatever we want we buy.  We simply hand our credit card over to the clerk or enter the card number as we buy on-line.  All is well until the bank sends out our bill.  No problem that we spent six thousand dollars.  The minimum payment is only $129.00 per month.  We can handle that.

Businesses in the United States rely on this behavior.  Even as the economy was crashing in 2008 and 2009, the manufacturers and retailers knew that this troubled time would pass.

So here we go again.  After all it’s the poorly educated that continue on the same path.  Society does not know how to resolve the problem.  The Poorly Educated is partly the result of bad habits handed down from one generation to the next and the capabilities of those who are poor.  Not all of us can learn to be a doctor or do computer coding.  Not all of us are willing to put in the long hours necessary to make a small business thrive.  Few of us have the capabilities and good fortune to be a Bill Gates or Warren Buffett.

What we all can do is control our desire to spend so that we can provide our families with some financial security when the bad stuff happens.

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Responses

  1. I admire your context of this posting, but would like to point out that way too many in this country lost everything and have had to use credit cards to make ends meet. That doesn’t make it right, just a logistic of the times. My sister and her husband lost their house and all they had when the housing bubble burst and their house went from being worth 250 thousand to 120 thousand overnight-


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