Confession Mondays: Debt victims

November 1, 2010

I don’t even know where to begin, Dick. For starters, the whole “victim” mentality is so not happening for me. That’s very 1980’s. Second, is that your metaphor of children swallowing toys is just not a very strong one. WE ARE NOT CHILDREN. Perhaps that’s the problem here. When we think of big old banks doing bad things TO us, and we imagine we have no control over what they do (i.e. dish out high risk debt) then, sure, we are all victims. We are enslaved. And yet, how is it that some of us aren’t victimized by banks while others are?

For the record, I am 40. I have existed in every tax-bracket imaginable. My father was a brilliant manipulator of the system and I saw how he used it to his advantage. I also saw how banks can fall a part when an individual takes control of his own credit and financial situation. Individuals have HUGE amounts of power that they don’t even realize. We are not victims, Dick. And when we stop thinking as victims we are able to change the paradigms that have us believing we are enslaved.

You seem like a smart guy. And I appreciate an intelligent, non-hostile discussion with you. But you’re idea of me being an extreme libertarian is way off. And your tale of people being punished for wanting to eat a good meal is too. I have had many good meals in my life. The best were paid in cash. And if I didn’t have the money, I ate at home. Simple mathematics.

I’m going out on a limb here and bringing in the possibility that this angst toward the debt crisis is due in part to people’s own shame at having let things get so out of control. As we try to keep up with the Joneses we see consumerism as more essential than good credit and we end up getting buried in debt. Once that happens, we look for any way out and we look for others to blame. Now that more people are recognizing the ugly side to banking and credit, the banks have suddenly become the perfect scapegoat for all our financial woes. It makes us feel better, mentally and emotionally, to know all this debt we’re buried under isn’t our “fault.” it’s someone else’s fault. We’re just a victim.

That kind of thinking is detrimental to the self AND to the economy as a whole because once we give up our responsibility to our own debt and put others in charge, we are susceptible to becoming victims. When we put others in charge, they do not make decisions based on our best interest but theirs. And on and on…

No one snowflake ever feels responsible for the avalanche. Maybe it’s time we start.

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