Comments on: The Curse of Debt http://www.minthegap.com/2009/03/12/the-curse-of-debt/ Standing in the Gap in a Society that's Warring with God. Wed, 25 Jan 2012 19:17:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: MInTheGap http://www.minthegap.com/2009/03/12/the-curse-of-debt/comment-page-1/#comment-84134 MInTheGap Mon, 16 Mar 2009 19:48:40 +0000 http://www.minthegap.com/2009/03/12/the-curse-of-debt/#comment-84134 The problem is much what Ling said earlier, if the government is going to continue to inflate money and bail you out when you make mistakes, why should you save, why should you not get into as much debt as possible? It's like doing whatever kind of dangerous thing imaginable because there'll always be a safety net. You'd be foolish not to, wouldn't you? To me, somewhere along the line it becomes a moral issue rather than just a numbers issue. Once you get there, you start to ask the interesting questions. The problem is much what Ling said earlier, if the government is going to continue to inflate money and bail you out when you make mistakes, why should you save, why should you not get into as much debt as possible? It’s like doing whatever kind of dangerous thing imaginable because there’ll always be a safety net. You’d be foolish not to, wouldn’t you?

To me, somewhere along the line it becomes a moral issue rather than just a numbers issue. Once you get there, you start to ask the interesting questions.

]]> By: Rachel http://www.minthegap.com/2009/03/12/the-curse-of-debt/comment-page-1/#comment-84124 Rachel Fri, 13 Mar 2009 18:34:26 +0000 http://www.minthegap.com/2009/03/12/the-curse-of-debt/#comment-84124 What galled me was when Geithner got up there and started talking about how the government needed to unfreeze credit so people could go out and get student loans (OK in my opinion), home loans (still OK in my opinion), auto loans (iffy; as low as prices are right now it should be easier to pay mostly cash), and more credit cards (WHAT?!?!?). THEN he goes on to say how the GOVERNMENT will be there with a stimulus package to help the people pay for what they just took out on credit! There is something greater going on here than just expanding the national deficit/debt (not sure which word is appropriate here). This is a subtle way for the government to make people totally reliable on it. THEY will unfreeze credit and encourage folks to spend more money (that they don't have) then when it comes time to pay the bill, THEY will be there with another stimulus plan to help pay the bill. It is a vicious cycle to make the public dependent on big government. Ideals like self-control and delayed gratification are no more. Let Uncle Sam get you that loan for whatever you want and when it's time to pay up, let Uncle Sam do that for you too. Meanwhile all the taxpayers in American are paying for the government to fund your irresponsibility. <abbr><em>Rachels last blog post..<a href="http://afuturepastorswife.blogspot.com/2009/03/breaking-hiatus-again-this-time-for-fun.html">Breaking Hiatus Again... This Time For Fun</a></abbr></em> What galled me was when Geithner got up there and started talking about how the government needed to unfreeze credit so people could go out and get student loans (OK in my opinion), home loans (still OK in my opinion), auto loans (iffy; as low as prices are right now it should be easier to pay mostly cash), and more credit cards (WHAT?!?!?). THEN he goes on to say how the GOVERNMENT will be there with a stimulus package to help the people pay for what they just took out on credit!

There is something greater going on here than just expanding the national deficit/debt (not sure which word is appropriate here). This is a subtle way for the government to make people totally reliable on it. THEY will unfreeze credit and encourage folks to spend more money (that they don’t have) then when it comes time to pay the bill, THEY will be there with another stimulus plan to help pay the bill. It is a vicious cycle to make the public dependent on big government. Ideals like self-control and delayed gratification are no more. Let Uncle Sam get you that loan for whatever you want and when it’s time to pay up, let Uncle Sam do that for you too. Meanwhile all the taxpayers in American are paying for the government to fund your irresponsibility.

Rachels last blog post..Breaking Hiatus Again… This Time For Fun

]]> By: MInTheGap http://www.minthegap.com/2009/03/12/the-curse-of-debt/comment-page-1/#comment-84122 MInTheGap Fri, 13 Mar 2009 15:12:58 +0000 http://www.minthegap.com/2009/03/12/the-curse-of-debt/#comment-84122 Well, on one hand it's a moral question-- is it better to spend my money or someone else's? I mean, I can totally see what you're saying: If I'm going to lose it all, and the government will be there for me, then why not spend as much as I can? But that's what got us in this trouble in the first place-- banks believing they were too big to fail. So, there's a moral underpinning to the decision to be debt free. Well, on one hand it’s a moral question– is it better to spend my money or someone else’s? I mean, I can totally see what you’re saying: If I’m going to lose it all, and the government will be there for me, then why not spend as much as I can? But that’s what got us in this trouble in the first place– banks believing they were too big to fail.

So, there’s a moral underpinning to the decision to be debt free.

]]> By: MInTheGap http://www.minthegap.com/2009/03/12/the-curse-of-debt/comment-page-1/#comment-84123 MInTheGap Fri, 13 Mar 2009 15:12:58 +0000 http://www.minthegap.com/2009/03/12/the-curse-of-debt/#comment-84123 Well, on one hand it's a moral question-- is it better to spend my money or someone else's? I mean, I can totally see what you're saying: If I'm going to lose it all, and the government will be there for me, then why not spend as much as I can? But that's what got us in this trouble in the first place-- banks believing they were too big to fail. So, there's a moral underpinning to the decision to be debt free. Well, on one hand it’s a moral question– is it better to spend my money or someone else’s? I mean, I can totally see what you’re saying: If I’m going to lose it all, and the government will be there for me, then why not spend as much as I can? But that’s what got us in this trouble in the first place– banks believing they were too big to fail.

So, there’s a moral underpinning to the decision to be debt free.

]]> By: Ling http://www.minthegap.com/2009/03/12/the-curse-of-debt/comment-page-1/#comment-84121 Ling Fri, 13 Mar 2009 14:34:48 +0000 http://www.minthegap.com/2009/03/12/the-curse-of-debt/#comment-84121 The thing about fighting debt is that it's really easy to be penny wise and pound foolish. It's a cliche, but true. You save a little here, a little there, you cut back on things you don't need and even some things you do need. And you feel good that you're living right. Then one fine day the market crashes, you're in the middle of a recession and suddenly your investment portfolio tanks, and it's all gone, and you're left wondering if you should have just enjoyed your earnings, instead of sacrificing day after day and month after month, and then watching it all go up in smoke. The thing about fighting debt is that it’s really easy to be penny wise and pound foolish. It’s a cliche, but true. You save a little here, a little there, you cut back on things you don’t need and even some things you do need. And you feel good that you’re living right.

Then one fine day the market crashes, you’re in the middle of a recession and suddenly your investment portfolio tanks, and it’s all gone, and you’re left wondering if you should have just enjoyed your earnings, instead of sacrificing day after day and month after month, and then watching it all go up in smoke.

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