Thursday, January 27, 2011
You are to blame for your financial woes and basically, you caused the recession.
And they try to over-simplify their argument to make their point- you took on more debt than you could handle.. you should have read the fine print.. you should not have tried to be entrepreneurial by buying homes for the purpose of reselling.. you should have known better.. you.. you.. You!
Funny that the media and well-to-do never talk about how the prices of Everything from strawberries, stamps and soda to vehicles and a place to live have gone up at a far greater percentage (25-40% more) than wages and overall household income.
They never mention that the system as it currently exists forces people to use credit to survive by paying bills, putting food on the table or paying medical bills, while those blood suckers known as credit card companies are able to charge interest up to 30% at a moment's notice, or slice credit limits to provoke 'overlimit' charges any time they feel like it.
The smart-farts, as I sometimes call elitists, always neglect to mention the connection between credit and commerce. That the availability of individual credit allows businesses to charge far more for goods and services (usually 15-20% more) than they could get away with in a cash-based, pay 100% upfront society. How many people have $1000 at a snap of a finger to buy a refrigerator or stove? No problem-- just charge it. And when businesses have promotions, its usually discounted interest rate teasers or 'no interest for 12 months' programs rather the store actually Lowering the cost of the over-priced item.
And the elitists completely gloss over the fact that while an individual may be tens of thousands in debt, US corporations, banks and industries are in debt for hundreds of billions of dollars, if not Trillions.
GM, Chrysler, AIG, Goldman Sachs, Bank America, JP Morgan Chase, Citibank-- All of them are Deadbeat Losers when you apply the same smug standards that well-to-do people and media place on everyday people in a financial jam. But somehow not only is it ok for them to be deeply in debt, it is the government's Responsibility to bail all them out while the people can go "F" themselves.
The problem becomes when common people accept this mindset- a form of economic Stockholm Syndrome where you bond with your 'captor' & justify and defend the entities that are economically raping you.
If you are in debt.. if you went bankrupt or had your home foreclosed upon.. it is not your fault. You are not to blame for your predicament.
For decades you were sold lies and dreams that you could have it all, yet through outsourcing and the disappearance of a manufacturing base, you were prevented from having an income that kept up with the over-inflation. Through college and the dramatic tuition increases of the past 10-15 years, you were guaranteed to be in tens, if not hundreds of thousands of dollars in debt before you turned 24 in the hope you could parlay the education into a good paying job that a company could not find elsewhere at $2/day.
Both parties ignored your needs and sold you out at every turn, including the present leadership. They filled you with 'hope' and '1000 points of light' and 'feeling your pain'.. they told you it was 'morning' again..and then enacted policies that forced you to work longer and harder to earn enough to maintain a basic quality of life that people 40 years ago had.
I just felt it important to let you know.. it is not your fault.