Well I was excited to see today's paper describing our Treasury Secretary's advice for China's growing economy.
Improve their access to other people's money. Let the populous go in debt to buy more stuff. That's his advice to improve their economy. And to improve ours.
Such an improvement it would be, Oy! The communist government, if it truly cared about its people would outlaw usury for personal debt. If, instead and as expected, the communists want absolute control over their people's lives and thoughts and actions, allow them to go into debt over things they think they need. Then they won't dare rock the boat, revolt against the government or propose alarming reforms. Because they might lose access to the wonderful world of credit.
I wondered immediately whether this debt monster isn't the reason our own population is so passive about the complete lack of moral fiber in our government at the highest level? When its all you can do to make sure the bills are paid and the collectors aren't on the phone at 7:30 in the morning, who cares if the president is a liar or a womanizer or a thief?
Does anyone remember the song "Sixteen Tons"?
"You load Sixteen Tons and what d'ya get?
Another day older and deeper in debt.
Saint Peter don't ya call me, cuz I can't go.
I owe my soul to the company store."
The mining industry used easy credit to make sure the miners showed up to work and didn't strike. With no savings and all debt they needed the revolving credit to feed their families and keep their house. Nothing else could matter.
Except the miners did revolt.
Maybe we should too.
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