Well, I am just jotting down some thoughts on the holiday season and my inability to escape the commercialization of x-mas. As I watch the endless commercials, sit-coms and dramas playing into the holiday fever I just want to puke. And here come the news stories telling (again) how much retailers are hurting because people aren't spending enough.
Arrrgghhh..
People aren't spending enough because they don't have it to spend. Most people charge it.
Check out the fed stats here.
You will see there is currently about $788.9 Billion in revolving credit floating around out there. People are paying interest on it and the balance just keeps growing as we buy more stuff we can't afford.
That got me to look up the TOTAL current population of the US. - 295,025,845 !!!
Let's do some math. That's approximately $2,674 of revolving debt (credit cards) for every man, woman and child in the US right now. That includes babies who don't have any credit cards yet.
Also, I found out that the US gains 1 net life every 11 seconds. That means that even with the death rate factored in, we are growing by one person every 11 seconds. That does not include population growth through immigration.
Hmmm.
Well, I am all warm and cozy now. Time for bed.
Merry ...... yeah... just don't buy me anything. We have lot's of mouths to feed and interest to pay.
Cheers.
2 comments:
what % of the national credit card debt is yours, plastic boy? just wondering...
I am very low on the scale in terms of revolving credit.
I try to maintain no outstanding balance on CC. I do have a mortgage. But, no car payments or CC balance. But it was not always that way. I learned the hard way, baby.
It was a b$tch to get out of that trap.
Post a Comment