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With the increase in the use of credit, the illusion of making more money takes hold.
"I can just charge it!" became the new mantra.
As costs went up, as services went down, the credit bill went up.
As the services went down, we as a nation had to pay more for something that only a few years before cost less.
When money is deferred, it's money lost. But the financial gain is found in the lenders.
The explosion of credit in the mid to late 90's let to higher interest rates and the targeting of younger people with no credit other than their parents co-sign.
Now credit controls everything.
Bankruptcy increases as prices increase and salaries aren't able to keep up, thus forcing people to use credit for the basic necessities of life.
The choice become food or medical aid.
Drugs are the new credit for health. Can't afford to go to the doc? take a pill!
People delay going to the doctor out of financial stress, so the rise of various drugs to "offset" the fear of major surgery takes hold.
Credit like a drug, provides the same sense of false security. Both will eventually catch you in the end.
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