It wasn't too long ago the government prosecuted organized crime for loansharking. These practices exacted interest rates that any one would find as usury. But loansharking seems to have now taken a new face, it's called consumer borrowing!
Banks issuing credit cards with rates in the 30% range and thinking nothing of it. Tack on to that rate late fees, sometime based on a percentage of the outstanding balance, annual fees, statement fees, over limit fees just to name a few. How in the hell can we have a healthy economy when this fiscal extortion is sanctioned by the government. Oh I forgot, the banks and the insurance companies own the government. How silly of me not to remember that connection.
The banks got the bailout and then stick it to the taxpayers by giving out billions in bonuses. Where is our bailout? Greed is running rampant and society is falling apart by the ever increasing polarization of those that have and those who have not.
Because we have been ingrained with the consumerism ideal, we by default live above our means. Borrow today and worry about it tomorrow. Well tomorrow arrived last week!
We need to get straight with things and tell the banks no thanks. Pay cash and limit the useless quest to have more toys than the other guy. Life is short and by rights we should be happy. But when happiness is masked by gaining material things that result in the continued pressure of maintaining payments for things that we bought, used and cast away, we need to rethink our priorities.
Think about the quality of life. Simplier is better, less is more and so on.
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