American Economic Policy

Yeah yeah yeah. I know. I’m bitching about money again. Well, it just seems to me that whenever I have a problem in life it usually involves money. So fucking excuse me. I’ll happily admit to not understanding economics. Hell, I’ll even write a song about it. I’ll put on a goddamn tuxedo and run up and down the street singing it. I’ve said this many, many times I know. But just when I think it doesn’t need to be said again I read something like this:

“Since the Great Recession, countless Americans have shunned the idea of taking on more debt. Homeowners discovered that stretching to buy bigger houses would result in years of financial turmoil. Jobless college grads unable to pay down their student loans now wonder if their degrees are really worth it. And as Europe grapples with its own debt problems, Washington lawmakers struggle to find a way to reduce the U.S. deficit.

Indeed, many have learned a few harsh lessons. But debt isn’t always a bad thing. More of it can reflect a healthy economy — one where consumers, as well as lenders feel comfortable taking on more risks…

…It’s a negative sign. The Federal Reserve’s policies to keep interest rates super-low has spurred more home and car sales by getting consumers to borrow more, but it appears young adults have benefitted less from the central bank’s bond-buying program.” – CNN MONEY

I’m going to go ahead and disagree with, uh, economics on that point. Being in hock to anyone is fucking terrible news. And I should know. My wife and I will be paying off school loans until we’re dead. And as far as the Federal Reserve goes, well, I thought it was some kind of beer to be honest. Debt is only good for people who are in the debt business. And fuck those people. Only something as backwards and illogical as economics would consider less debt a bad thing. Yeah, I know, the Federal Reserve is doing some kind of math and banks are upset or something. Shit, man. I don’t understand these fucking people. What I do know is that I want less debt in my life. If that means never owning a home or buying a new car then, frankly, so be it. Because I don’t want something like what happened in Britain recently to happen here:

“A debt-ridden father doused himself in petrol and turned himself into a human fireball after being harassed for money by payday loan firms.Antony Breeze, 36, died after setting himself alight, telling passers-by who tried to extinguish the flames: ‘I’ve had enough.’

In the hours before the tragedy Mr Breeze, who owed around £1,600, was bombarded with text messages about his arrears, an inquest heard.

The next day he went out, telling his girlfriend he was getting petrol for a lawnmower.
Minutes later he was found screaming and in flames on a pathway.

He had been so worried about the debts that he lost a stone in weight in just two weeks, relatives said.

Mr Breeze and his partner of nine years, Amanda Lowe, had a six-year-old daughter, Amy, and were planning to marry.” – THE DAILY MAIL

Yeah. More debt is a good thing. Except for, you know, people.



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