In Debt We Trust
Find a Conversation
In Debt We Trust
| Sat, 12-20-2008 - 1:26pm |
Have you seen this movie? It's a documentary about the state of the nation before the current financial crisis and the awful part is that it predicts everything that is going to happen. It talks about the housing bubble and predatory lending and subprime mortgages. It talks about how 2/3rds of our economy is based on consumer spending on products and goods and how we've built our economy to look like this not thinking of what will happen to us when consumers stop spending? We're finding out right now! It talks about how many people are going to lose their homes in the future because of all the subprime mortgages and scams out there. It's, like, telling the future!

I've heard of this movie and want to see it. I think the world is in for a BIG shift in attitude, and to be honest, I'm not sure its such a terrible thing. Its going to hurt for a long time, but maybe afterwards we will come out the better (trying to keep positive here!!).
An expert on a show I was watching made a good point. We can still be a consumerism society IF we learn to pay for things in cash and not charge them. The money that we could save on interest could easily be diverted to buy things we want. Its just the transition (when we have to stop buying to pay off our debts) thats is going to be painful! I presonally can't wait to be debt free. It will be such a relief!
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -