Mr. Freeze, the Financial Curmudgeon – Might as well face it we’re addicted to debt!
If You’re in a Hole, QUIT DIGGING!
I, Mr. Freeze was incredibly happy about the recent legislation that finally put the Credit Card Companies in their place. Mr. Freeze realizes that it wasn’t a perfect law, but it is the most wide reaching pro consumer, Credit Industry legislation in 30 years! But sadly, Mr. Freeze is still grumpy. Here’s why:
We Just Won’t Quit Spending!
Mr. Freeze took this picture that shows how U.S. debt just keeps rising (and this isn’t “the government’s” fault). Even I, Mr. Freeze the Financial Curmudgeon almost had a stroke just thinking about the problem we have created for ourselves. We have become a nation of debtors who can always find a reason to spend money we don’t have, for things we don’t need and then turn around and complain when the bill comes due (either from our creditors or from the tax man). It’s an addiction, THE addiction: Our addiction to debt. It was this uncontrollable habit that helped create the Real Estate Meltdown that almost sunk our entire economy.
Mr. Lupori the Realtor®
Mr. Freeze’s alter ego (you know the nice guy), Mr. Lupori, the Kenmore Realtor®, recommends you read several interesting articles about America’s insatiable appetite to spend.
- “America’s Addiction to Debt” by Gene Lyons in Salon Magazine – An interesting reflection on the author’s experience with the S&L Crisis in TX (circa 1980’s) and how we basically learned NOTHING from the experience.
- “My Personal Credit Crisis” by Edmund L. Andrews – New York Times – An incredibly intimate and powerful story of how the author, an economics writer for the NYT, got himself into a terrible financial crisis by purchasing a home and making every classic financial mistake possible….all because he wanted part of the “American Dream.” It should be required reading for everyone.
- “A Must Read: Decline and Fall” by Larry Cragun – Neighborhoods Undressed – Larry Cragun’s thoughts about a NYT editorial by Ben Stein. Mr. Stein paints a picture of the future, 2089, which predicts that our inability to bring sanity to our economy causes the downfall of the American empire.
- Retire Debt-Free by Robert Powell of Marketwatch – Not so long ago, retirees didn’t have much debt in the “golden years,” but now many older Americans find themselves shackled with debt even after the working years are over. This article will sober-up all you baby-boomers.
I, Mr. Freeze also recommend these articles. They are truly excellent. Now that we’ve managed to control the Credit Card Companies (a bit), it’s time to take a good hard look at ourselves and figure out the meaning of the word ENOUGH. Our lives would be infinitely easier if we did.
Mr. Freeze courtesy of ElDave and Mr. Lupori courtesy of Mr. Lupori!
