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Seems to me these days as though credit is too freely taken. Given, offered, accepted, used, overused, extended, overextended, due or overdue..., And just plain abused by just about everyone.
Why, even our young president gets credit (before it’s due). That marvelous Nobel Peace Prize a fine example! I’ll give him credit though..., he’s good at acceptin’.
Enough raucous humor, let’s try to get serious for a moment.
Starting at the top with credit abuse, our government is guilty of all these things. Amazingly it’s somehow managed not to have received any overdue notices (but they’re comin’!).
The big banks have been involved in all the things listed above. You’re paying for that! (the bills are “in the mail”!). It may take some time (postal service being the way it is?) at some point you (and your kids) will have a reckoning.
Then there’s the big corporations. They’re just as guilty as the banks. Their sh--, umm bills are just starting to hit the fan. Although we won’t linger there today. Suffice to say, you’ll pay for that too..., one way or another.
Finally there’s you. Don’t roll your eyes at me! You know you’re guilty. If you’re not, many of your neighbors are! At the very least, darn near everyone’s been guilty of having used (overused) credit at some point in their lives. It’s simply that way too many folks have done it with gusto in recent years.
Make no mistake, I’m referring to credit card debt! Not accepting some little reward that was or wasn’t due! I’m really talking about another huge shock wave boiling up, that’s going to wash over all of us.
It’s been brewing as long (longer maybe) as that “mortgage crisis” we’ve all heard about (and felt) so much recently. It’s going to cause all kinds of trouble in the near future. You’re really not gonna like it. But since you’ve (most likely) been directly involved, don’t come whining to me about it. So what’s the big problem?
People aren’t paying their credit card bills.
Of course you and I are good financial citizens. You and I, dutifully (cheerfully) send in those credit card payments every month, right? Wrong! Too many of you don’t. In my case I somehow (grudgingly) manage to mail mine off on the 3rd of every month. Only because I actually feel obligated (fancy that) to pay back what I’ve borrowed and what I owe.
But a lot of folks don’t or won’t or simply can’t. Some people just don’t feel all that obligated to honor their obligations? Some have simply gotten themselves obligated for more than they can (ever) pay back.
I read the papers, watch the news. I hear (overhear?) conversations while sittin’ three stools down. I know there are simply too many people having financial troubles. Matter of fact, more folks are having real trouble paying their bills than I can ever remember from the past.
My bankers nose (might be out of practice?) still smells trouble long before it shows up on the street.
What’s about to show up on the street is another sorry line of Big Bankers. Descending from their office tower suites, comin’ out of the woodwork (from under a rock?).
They’re gonna come smiling, hat in one hand (the other outstretched, reachin’ towards your pocket). They’re going to want another “bail out”. They’re going to say too many people haven’t been paying their credit cards bills! They’re going to say the problem is huge! They’re gonna say they’re "...too big to fail...”. They probably won’t be lying.
They won’t bring up (and hope no one mentions) how they convinced (conned) an entire nation that it was fine (fun) to get into debt so deep they’d never get out!
They knew better (or should have) just like most regular folks with half a brain. The economy has and always will, run in cycles. It never goes in one direction forever. An old axiom makes it simple: “What goes up, must come down!”. Things cannot stay “rosy” and rising indefinitely. History dictates the cycles will go down at some point. That’s what happened in the past year.
I’m sorry to say that nasty old “mortgage crisis” was just the first phase. Overdue credit card debt is rapidly rising! You’re going to asked to “come to the rescue” of the big banks again. Those cards in your back pocket are fixin’ to take a much bigger bite out of your..., umm wallet, than they already have!
I Don’t Know About You..., Just like mortgages, I thought payin’ my own was enough!?
Cal Teeple, founder of the Observational Cogitation Consortium may often be found three stools down. Or At: www.wayneindependent.com/cal And At: calteeple@gmail.com He may be ignored, contacted or accosted in any of those places.
Seems to me these days as though credit is too freely taken. Given, offered, accepted, used, overused, extended, overextended, due or overdue..., And just plain abused by just about everyone.
Why, even our young president gets credit (before it’s due). That marvelous Nobel Peace Prize a fine example! I’ll give him credit though..., he’s good at acceptin’.
Enough raucous humor, let’s try to get serious for a moment.
Starting at the top with credit abuse, our government is guilty of all these things. Amazingly it’s somehow managed not to have received any overdue notices (but they’re comin’!).
The big banks have been involved in all the things listed above. You’re paying for that! (the bills are “in the mail”!). It may take some time (postal service being the way it is?) at some point you (and your kids) will have a reckoning.
Then there’s the big corporations. They’re just as guilty as the banks. Their sh--, umm bills are just starting to hit the fan. Although we won’t linger there today. Suffice to say, you’ll pay for that too..., one way or another.
Finally there’s you. Don’t roll your eyes at me! You know you’re guilty. If you’re not, many of your neighbors are! At the very least, darn near everyone’s been guilty of having used (overused) credit at some point in their lives. It’s simply that way too many folks have done it with gusto in recent years.
Make no mistake, I’m referring to credit card debt! Not accepting some little reward that was or wasn’t due! I’m really talking about another huge shock wave boiling up, that’s going to wash over all of us.
It’s been brewing as long (longer maybe) as that “mortgage crisis” we’ve all heard about (and felt) so much recently. It’s going to cause all kinds of trouble in the near future. You’re really not gonna like it. But since you’ve (most likely) been directly involved, don’t come whining to me about it. So what’s the big problem?
People aren’t paying their credit card bills.
Of course you and I are good financial citizens. You and I, dutifully (cheerfully) send in those credit card payments every month, right? Wrong! Too many of you don’t. In my case I somehow (grudgingly) manage to mail mine off on the 3rd of every month. Only because I actually feel obligated (fancy that) to pay back what I’ve borrowed and what I owe.
But a lot of folks don’t or won’t or simply can’t. Some people just don’t feel all that obligated to honor their obligations? Some have simply gotten themselves obligated for more than they can (ever) pay back.
I read the papers, watch the news. I hear (overhear?) conversations while sittin’ three stools down. I know there are simply too many people having financial troubles. Matter of fact, more folks are having real trouble paying their bills than I can ever remember from the past.
My bankers nose (might be out of practice?) still smells trouble long before it shows up on the street.
What’s about to show up on the street is another sorry line of Big Bankers. Descending from their office tower suites, comin’ out of the woodwork (from under a rock?).
They’re gonna come smiling, hat in one hand (the other outstretched, reachin’ towards your pocket). They’re going to want another “bail out”. They’re going to say too many people haven’t been paying their credit cards bills! They’re going to say the problem is huge! They’re gonna say they’re "...too big to fail...”. They probably won’t be lying.
They won’t bring up (and hope no one mentions) how they convinced (conned) an entire nation that it was fine (fun) to get into debt so deep they’d never get out!
They knew better (or should have) just like most regular folks with half a brain. The economy has and always will, run in cycles. It never goes in one direction forever. An old axiom makes it simple: “What goes up, must come down!”. Things cannot stay “rosy” and rising indefinitely. History dictates the cycles will go down at some point. That’s what happened in the past year.
I’m sorry to say that nasty old “mortgage crisis” was just the first phase. Overdue credit card debt is rapidly rising! You’re going to asked to “come to the rescue” of the big banks again. Those cards in your back pocket are fixin’ to take a much bigger bite out of your..., umm wallet, than they already have!
I Don’t Know About You..., Just like mortgages, I thought payin’ my own was enough!?
Cal Teeple, founder of the Observational Cogitation Consortium may often be found three stools down. Or At: www.wayneindependent.com/cal And At: calteeple@gmail.com He may be ignored, contacted or accosted in any of those places.
