Debt America: More Reasons Why Americans are Addicted to Borrowing
by Mogamahttp://mogama.info
This blog is a follow up to “Easy Credit Equals Debt America: Easy Credit Equals Debt America: Why Americans Easily Fall in Bed with Debt”. Here are more reasons why too many Americans have been hooked on debt s ince the credit revolution that boomed in the 1980s.
We no longer attach a stigma or shame to borrowing. In the old days, people were naturally embarrassed to know they were borrowing something, anything. Like a wet dog with tail tugged between legs, the borrower would sneak under cover to plead for a temporary debt with a potential lender. It was a shame for others to know you had borrowed anything, especially money, from anyone that was not a family member.
Contrary to that, we have become shameless borrowers. We raise our heads high in broad daylight and march victoriously out of the lender's office after we have signed for a car loan, as though we had heroically achieved something memorable.
Americans have failed to connect the dots between our financial woes and consumer debt . Worse we blind ourselves to how debt-induced financial crises threaten, pressure and even ruin the relationships we claim to value. Due to debt, we strain or lose relationships with our spouses, children, parents, in-laws, friends, and others. It's a bad trade, but we don't seem interested in turning our backs on borrowing.
It is weird how emotion-generated borrowing feeds our romance with furniture, appliances, electronics or whatever it is we fall in love with.
As reality would have it, we soon go pass the orgasm stage of “thing love”. Then we suffer an emotional let down. And like a prostitute in search of the next kiss, we're ready once again to go looking for a new lover, the latest big screen or bigger screen HDTV that now flirts with us from a store or showroom nearby.
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Article submitted Thursday, January 07, 2010 & read 15 times.
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