Well it’s about time for another one of my rants...credit card debt. There are a number of shows out there now ie - “Till Debt Do Us Part” that profile a couple or family with debt issues and provide them with debt counseling, if they listen to the counselor they receive some cash to put towards their debts. I’ve painfully watched a few shows, not because they were so good, but because it was so pathetic that I just couldn’t look away…In each show a middle class couple with decent jobs ended up racking up so much credit card debt that they had trouble paying the interest each month. The stupidity of this blows my mind. If people are using their credit card to buy food, shelter, emergency medical treatment etc... than that would be just sad…but if it’s being used to buy consumer items (wants instead of needs) than that’s just stupid. Although I don’t personally know anyone who’s gone bankrupt (except the person I bought my house from) I do know many people who are so incompetent at managing their money and debt levels that it’s borderline unbelievable. It’s usually not one or two large items that tip peoples debt levels from manageable to unmanageable, it’s usually multiple smaller ones that accumulate over the months, yet they all seem so shocked when they finally realize that they're over-extended. I can just imagine the thought process before raking up that much debt... “hmm...I can just make my minimum house payments, my credit card is almost maxed but I definitely need a flatscreen TV and hey maybe I’ll grab some takeout on the way home to celebrate...”
Don’t get me wrong I think debt is essential and often beneficial (keeps the economy going) but the uncontrolled consumerism that ruins families is just stupid...but hey maybe it’s just a new form Darwinism...I’ll call it Financial Darwinism...just filtering the weak from the moneypool…..