November 20, 2008
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News: Social Apathy is Responsible for CC Crunch.
The writing has been on the wall for years now: "You've been weighed in the balances, and found wanting". The age-old struggle between social wisdom (fostered by Henry Ford) and extreme greed (fostered by George W) are the swings of the pendulum. Do we owe anything back to our country or is it every man for himself? It seems to be military veterans on one side and Wall Street and extremely greedy CEOs on the other. What happens when one person out of every 100 Americans possess 99 percent of our nation's wages; while the other 99 out of 100 Americans have to divi-up the remaining 1 percent of a wage that's left? In order for those hapless 99 percent to survive, feed and cloth their families, they'll probably have to turn to credit cards. Long gone are the days when most of these people were able to pay off this credit card debt every month. Disregard for social wisdom is one of the key causes of the credit card crisis we are in today.
Today, Americans are with twice as much credit card debt as we were during the last major unemployment crisis (1994) and more than seven times deeper in credit card debt than we were in the major unemployment crisis before that (1982). (For details on this alarming situation, please refer to the article entitled: "Protect Credit Card Industry: Too little, too late.")
This is not just about sloppy lending practices. It's about the lack of social wisdom. About apathy toward an unemployment crisis, toward a healthcare crisis, stagnant wage increases and extreme greed. It's about ‘irresponsible' credit card debt out of desperation.
Adequately-paying jobs have been shipped oversees by the millions, only to fatten the belt of the 1 in 100 Americans who are still not satisfied with having 99 percent of all of our nation's wages for themselves. Supposed ‘fundamentalists', still insist that the 20,000 more Americans who will die every year because of no health insurance deserve what they get for being irresponsible. It's about scare mongers who preach that anyone pushing a little social wisdom on the extremely rich, are Communists. These lying or deceptive journalists and politicians who claim this are responsible to know that, with communism, the government actually owns almost all of industry and business. It's in the Funk & Wagnalls. With such neglect from the government to attend to extreme needs, how could we not have a credit card crisis?