Saturday, November 24, 2007

DEBT

What is wrong with America?

I was at the post office today and some idiot was holding up the line because he was paying for his various packages using several credit cards. I mean, this poor fool was putting $5 on this card and $10 on this card and so on and so on.

That idiot was a snapshot of modern America.

I mean, most Americans are thousands of dollars in credit card debt, their houses are being foreclosed upon, and the newspapers talk of nothing but of an upcoming recession, but what do they do....they go shopping. According to the news, the stores were jammed to the gills on black Friday.

I personally know two friends of meager wages that owe over $40,000 on credit cards - and this is on top of their mortgages.
.
When is this going to end? Who's going to pay these bills?

2 comments:

Anonymous said...

The answer to that question would be you and me.With higher prices when buying a house or applying for a credit card.That means higher percentage rates to cover all the lost monies to the credit card companies.They will have to recoup their loses some way.I blame the banks that give credit to anyone and the fat cat's that sit behind their big desk's trying to figure out a way to put money in their already fat pockets.20 years ago you had to jump through hoops just to get a dept store credit card let alone a major credit card like visa or master card.

yougnomeme said...

It is scary stuff; people spending far more than they earn.... It annoys the hell outta me --- those people who seem to shop strictly with the plastic, making the rest of us wait in line like we've got all the time in the world. Whatever happened to cash???