Ultimate solution

Drowned in debt

What would happen if all Americans simply paid cash for everything?

Can't afford it, don't buy it. And always pay cash for all day to day items so that your purchases do not go into a database.

You say you have had it with a power structure that puts you in debt and tracks your every move? And you don't wanna go through your life with a hook in your mouth and obligated to remain at a soul-starving day job you despise.

This would do it, wouldn't it? Of course, if you're happy being in hock, wage-slaving and a marketer's dream, carry on, by all means.


paying it off in full every month.

Posted by Guest on Jun. 17, 2013 @ 2:02 pm

That's what I use my credit card with great reward points for - to charge big ticket items then pay it off every month. I don't know who carries high balances on their cards anymore.

Americans have actually reduced their debt-to-income ratio compared to 5 years ago. And we're actually in the middle of the pack on this - most Europeans carry A LOT more debt than do Americans.

Still, Johnny's point is nonsensical. Poor people who have very little disposable income are the ones who benefit from judicious use of credit the most. Telling them to "pay in cash" for an item like a car really shows a total lack of understanding as to the mechanics of being low-income.

Posted by Lucretia Snapples on Jun. 17, 2013 @ 3:36 pm

for the poor actually come from privilege (which JAW admitted a few days ago) and so actually have no clue of the real problems that the poor face.

For people like Angel, Redmond, Shaw, Hestor, Welch etc. they can tirelessly labor in supposed support of the under-privileged while knowing that, at the end of the day, they can go home to their million dollar property and crack open an amusing Chilean Chardonnay, in the safe knowledge that such a fate cannot befall them.

For limousine liberals, such declarations of consideration for the downtrodden hoi polloi ring hollow and empty - it's just their way of assuaging their guilt and shame.

Posted by Guest on Jun. 17, 2013 @ 4:28 pm

Figured this out about 30 years ago.
Debt is slavery. Pay off the credit cards. Tear them up except for one you'll need for airline/hotel reservations.

Posted by The Dude Abides on Jun. 17, 2013 @ 2:58 pm

you can make some decent scratch on the float.

Posted by Guest on Jun. 17, 2013 @ 3:42 pm

Good points JAW!

A full U-turn and switch to bartering would be even better.

Then, onward to hunting & gathering.

Good analysis, as usual!

Posted by Lloyd on Jun. 17, 2013 @ 4:14 pm

I broke my programming a long time ago but I'm still familiar with the Dispensationalist Eschatology. Anticipating exactly what you were advocating, the government will do away with cash and all cash transactions, everything being encoded digitally. When the cashless society comes to be, the fundies will be running around buck naked expecting to be Raptured. After a while, they'll put their clothes back on and pick up their guns. You'd best be packing heat yourself when this all goes down.

Posted by N.L. Eakins,,,,Iowa on Jun. 17, 2013 @ 6:57 pm

An interesting take, I've been trying to avoid using credit cards for buying things I want. Last year I paid off my last card that I handled irresponsibly. But for some, the usage of such instruments may not be a matter of choice but of necessity. I'm not talking about items of luxury like a high end television or laptop, but the basics. The fact is that income has not kept up with productivity, yet have you seen the price of groceries? Even using coupons and looking out for bargains and trying to stick to a plan, its not hard to see that the cash in your wallet may not be enough. As I said, income has not kept up, this started about 30 years ago. I wonder if one were to look at a chart of credit card usage and this divergence between income and productivity versus say the price of food, that it would show something very interesting.

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