With apologies to Alice Cooper, this thought block is on debt and finance.
Credit card or unsecured debt is one of the greatest burdens on consumers. From the view point of personal responsibility, my feeling is don't take on what you can't payback. That makes good common sense.
However, what do you do when you defer common sense to corporate America? The credit card corporations become the heroin pushers of the financial world. They jolly you into the idea that "you should get the credit you deserve". Then corporate America charges usurious interest rates for propelled of putting you in debt.
Nice.
Since our society and government is all about prohibition and since credit card debt is ruinous to the fabric of our society and economic foundations of our country, why don't we require the government to cap all unsecured debt at 1/2 percent below prime rate. Debt payment would be required in one to two years with no additional debt accumulated.
One of the first reactions I have to this suggestion is that no credit card company or bank could stay in business at those sort of rates. And I don't have a problem with that.
Our economy can only thrive if it is based on productive value added. Usury is non productive. Sales commissions are non productive. Social services, except in times of desperation, are non productive.
So what happens to all those people who have gainfully employed donning debtors and holding back payments at the credit card companies and banks? With all the productive capital suddenly freed up by the relief from usury new jobs should flourish.
We need clever people to create a renewable energy economy that pays for itself. We need honest politicians and journalists. We need science as the mainstream product of our country. We don't need debt.
1 comment:
Hi again. I think the best thing I did was to install Solar Energy in my home. It cost me a bundle ($23,000) out of pocket but I have had not used the Grid now for 4 years. I still get an electricity charge of $5/month for "fees" even though I give back to the Grid the energy I don't use. It will pay for itself in 3 more years and then I will be getting a free ride. The benefits are not publisized much. For example, by having solar panels (43) on my roof, the sun doesn't have a chance to wear the roof so it should last past the normal 25 years life expectancy. Secondly, the solar panels keep the roof cooler since they block the sun and stand about 1 foot above the roof itself. This keeps the house cooler in winter. And lastly, the value of my house has increased more than the $23,000 investment as anyone who would buy my home would instantly not have an electric bill.
I applaud your focus on science. It is the answer along with accountability.
Post a Comment