Out of the Ashes...

Who's To Blame?

One of the biggest irritations to me these days is the US populace seemingly crying, in unison, for government to save them from current economic woes. As much as I poke fun at how people react to mass media leadership, this is one thing that really does confuse me. Yes, we are in an economic downturn. No, we are not in a depression. Yes, things are tight money-wise (but hey, I’m used to that, so the rest who aren’t are big whining babies). And no...we will not be saved by our government.

Really, could they save ANYONE today? They can’t even save themselves. *cough cough* Blago... *cough cough* Ryan... *cough cough* Prison... *cough cough*

What I fail to understand is how our populace (worldwide, in fact) doesn’t quite get how we ended up in the current situation. Do you get it? Likely not, so I shall explain whether you like it or not.

Let’s harken back to the late 1970's. No, I am not about to blame Carter, you ignorant, illiterate Liberal scum. Carter was the very first President to mention one very important thing in regards to our collective and individual economic futures. Reagan was the second...and last...to mention the same thing.

Excessive personal credit...

I was a wee boy of around 10 years during the Carter years. He was elected and sworn in when I was 9 and left office on the tip of Reagan’s boot-tip when I was 13. I do remember one particular TV address Carter gave. In that address, he used props. What props? Credit cards. The address, part of it anyway, was about how to divest oneself from the credit trap (fast easy money, high unreasonable fees...kinda like today!). He actually encouraged AND demonstrated the perfect way to say “no more of this <bleep>.” Scissors...put to card...use utensil...throw tiny pieces away...call to cancel account.

I don’t care what any silly historian says, but I think that public advice was really what prompted his presidency to end at one term. We didn’t really know then, as we do now, that our species’ former Feudal system has not been replaced by rule of the people but by rule of business. The bigger, the more powerful. Why? Money. Not just those who/which earn more, but mainly those who CONTROL the most. And who/what controls the most money at any given time? Banks and other financial institutions (including Wall Street types funds and services).

Anyway, Carter left, Reagan came in...and he actually said the same things from time to time. The key to America’s continued financial successes does not only hinge on the financial health of it’s businesses (large or small), but also (and MAINLY) on the financial health of it’s general working populace.

Hey, I ignored that advice, too, man. In my twenties I would have sold my soul to Ol’ Lucy for a few credit cards. I don’t recall actually concluding such a sale...but...I ended up with a few anyway. Of course, I had not even a hint of financial training, and by my late 30's I ended up learning a rather harsh lesson.

Carter was right...

One of my good friends back then actually said something I will always remember. “Mike,” he said without any hint to why at first, “I will never again have a credit card, even for emergencies. The reason being is that before long a movie will become an emergency.”

Maybe it because I was going through bankruptcy at the time that he just came out with that. But he was right. He made me think hard enough that not only have I never again delved into the credit thing, but I also came up with a small prophecy (years later) that the personal credit situations of most of us in this nation will end up throwing us into a major financial sector meltdown.

We, as a whole, have become greedy and completely self-centered. Need some examples? Just look around...

How many times have you been to a poor family’s house that has no less than TWO televisions? They can barely afford food, their cars are falling apart, and their house would look right snug in any given African refugee camp. Yet, they have TVs (one of which might be a huge HD type hanging on a poor excuse for a wall), cell phones, WIRELESS internet, plenty of beer/liquor, and perhaps the latest gaming console? If you can say at least ONE...that’s a lot (multiply that by many more, ‘cause there ARE more people in the world than you, silly).

Or, how many times have you seen someone driving a really nice or even cool set of wheels, onyl to see their house is a shack...or worse?

How many times have you heard someone complain about high prices, when they’re wearing THE latest fashionable shoes that they just can’t do without?

For parents, how many times have you purchased a $200 pair of sneakers (for example) that cost no more than the cheapest rip-off pair? Are you even aware that the rip-offs are really made by the SAME companies using different brand names?

Speaking of, how many times did you opt for a BRAND name even though it;s the same dang thing as the no-name product?

And how many times have you charged a purchase, promising it’d be paid off by end of that month...only to have that promise to yourself broken without even a second glance backward (until the card’s maxed, that is)?

See my point yet? Probably not, so I’ll bring it home for ya...

Years ago I stated outright to more than one person that our use of credit will end up destroying the nation as a whole...or nearly so. Of course, this was during the swinging Clinton years, so no one believed me.

Yet here we are...

Who is really responsible for a person not being able to pay on a card balance if they lose their gig? Or, heck, even if they’re still working but ended up with two or three high balances they cannot afford (and never could)? Would that be the banks or the person who used the cards?

On that subject, who’s actually responsible for signing a mortgage without reading or fully understanding the clearly spelled out KEY terms? The company putting a person into more home they can afford or the person themself?

Before anyone decries how those terms are spelled out in hard-to-understand legalese, then I have two questions and one statement for you:

QUESTION 1: Would you ever sign a contract you did NOT understand for anything simple (like a lawn care service, for example)?

QUESTION 2: If English is the only language you can read, would you willfully sign a contract written in another language?

Before you answer, consider this...

STATEMENT: In every purchase contract the KEY points are how much is paid now, how much is paid until a certain time, how much is paid AFTER said certain time, the various fees/charges/extras, and whether or not there is a “balloon payment” somewhere in the middle or at the end of the contract’s term. These KEY POINTS are clear and easily understood...IF...someone bothers to take the time to read through the thing.

Now you may answer...

However, as I stated above, we are a greedy, selfish, pretentious, and dependent society. Our status and self-worth are now displayed through status symbols rather than health of the spirit. It finally gets to the point that we can’t afford to quit and we must keep those revolving credit lines open...renewed...or both. Finally, we’re forced to quit, usually by running out of the money we actually earn.

Mind you, I am talking about the MAJORITY here...not the few who actually learned how to be financially responsible. Some have...most have not. In all nations from the beginning of humanity, regardless of style of governance, in some things the majority always rules. And in this, general finances, the majority does indeed rule. Especially today.

Considering the above, decisions were made by far too many people to overextend themselves. It finally affected the entire nation. So what do we do?

Hike up our bootstraps? No... Think about it and make adjustments. Then teach the succeeding generations what we learned (probably the hard way)? Nope! Oh, I know! Enough of us will send up a huge whine to our Federal masters to bail us out! Yeah! And that is precisely what happened. Of course, our nation as it is today is run by elected politicians and their appointed officials. Since WE choose the bosses...and usually do so these days due to the condition of our personal economy...why blame them for doing what we as a whole demand they do?

Obama would, I am sure, rather watch the Big Three automakers live or die by their own decisions. Same for the Wall Street hacks who looted their own company coffers. I’m dang sure he;d rather not nursemaid us into fiscal health.

Oh wait...what am I saying? That’s precisely what he prefers. But guess why, reader? Because we created the conditions ripe for such people to come in, convince us we can be saved from ourselves...and then...actually use that rhetoric (to great effect) to grab more power.

So again - WHO’s responsible?

Still stumped? Some are, I’m sure... Try this:

“The democracy will cease to exist when you take away from those who would work and give to those who would not.” - Thomas Jefferson

Most people attribute this to Welfare. However, remember who wrote this MANY times: there was no welfare beyond private charity in Jefferson’s time. Ponder that for a moment> What was he referring to?

Government taxation for the purpose of extravagant spending...

However, that can now be effectively expanded to include the general populace as a whole living beyond it’s/their means via any kind of credit for purposes beyond conducting business. Why? Because, just like our government under G W Bush and now B H Obama bailing out big businesses, they also began the process to bail out the little guy. Bush started the “stimulus” talk, got it rolling, and even mentioned doing something about high credit card fees and unaffordable mortgages. Obama is simply continuing that former Bush administration policy. These two are generally assumed to be totally different political philosophies, right?

Then why do Democrats and Republicans in power continue one another’s policies ever since the Roosevelt administration? Again, I can answer that for you: because we, as a people, have discovered we can now vote money from the public coffers.

Some bloggers here have mentioned that the USA is being destroyed from the inside - however the blame usually stops short. It is NOT the politicians, folks.

So who’s to blame? We are.

Prove me wrong...