American Consumer Debt

I have been saying for a while now that the reason this recession is more serious than others is because of high consumer debt levels.

I just got done watching a documentary recommended by a friend called, "In Debt We Trust".

It is a few years old, but has a lot of information.



The problem is, it has a very liberal slant. Most of the blame for our current consumer debt problems is placed on the Bush administration and big banks. Oh yeah, and the rich.

While it is true that large financial institutions made many bad loans to people they knew would not be able to repay them, they did so because there was demand for these loans.

Many American consumers (and yes, that includes me) have been acting like spoiled brats for the past fifteen years or so. They have been spending more than they made to buy, well, STUFF. A lot of that stuff is junk. A lot of it is worthless.

Most of it was purchased because of something ancient religions have warned against for thousands of years: WANTING.

It is time to pay the piper. It is time to live within our means. It is time to stop wanting more and more STUFF.

The Buddha called wanting the root of all suffering.

Psalm 23:1 "The Lord is my Shepard, I SHALL NOT WANT"!

Stop blaming the government and the banks and cut up all your credit cards for god sakes!

Take a look in the mirror - I know I am.

It's over people, enough is enough.