{"id":2160,"date":"2011-06-17T08:17:33","date_gmt":"2011-06-17T13:17:33","guid":{"rendered":"http:\/\/www.mdmproofing.com\/iym\/weblog\/?p=2160"},"modified":"2011-06-22T12:47:14","modified_gmt":"2011-06-22T17:47:14","slug":"more-credit-card-debt-needed","status":"publish","type":"post","link":"https:\/\/www.mdmproofing.com\/iym\/weblog\/2011\/06\/more-credit-card-debt-needed\/","title":{"rendered":"More Credit-Card Debt Needed"},"content":{"rendered":"

Last week we established that debt lifts young folks’ self esteem<\/a>. The next step along this ridiculous path, of course, is that our struggling economy needs — wait for it — more credit-card debt.<\/p>\n

USA Today:<\/i> More Credit Card Debt Might Be Good…<\/a><\/span><\/p>\n

I find this line of thinking fascinating, really. No one has any money; no one has any savings to speak of; no one is spending; thus, the economic recovery is faltering. The answer? More debt. That’s what it’ll take to get people spending now<\/b>.<\/p>\n

Forget saving money and slowly repairing Joe Sixpack’s household balance sheet, so recently decimated by house-price declines and more than ten years of rollercoastering stock markets. No, what’s important is that those credit cards come back out and start lighting up cash registers again. <\/p>\n

Yeah, that’s the ticket.<\/p>\n

And I’m particularly enthralled with this last chunk of the article. Here we’re introduced to a Houston couple who’ve decided, apparently, that carrying $15k in plasti-debt is no reason to not “go get some stuff” again:<\/p>\n

Some are loosening up. Amy and Brian Stonesifer of Houston halved their $30,000 in credit card balances the past year after their interest rates soared and Amy, 45, began worrying about her job security at a promotions firm. But after a year of scrimping, they recently charged new clothes, a grill and other non-essential goods. “We just got tired of not having things,” she says.<\/div>\n

Only in America would you find someone who’d rung up $30k in credit-card debt lamenting the sad, sad state of “not having things.” <\/p>\n

My question: Which one of Dave Ramsey’s Baby Steps<\/a> says to reduce your credit-card debt by half — to a level that’s still five digits’ worth, mind you — and then go out and charge a grill and some Dockers at Target?<\/p>\n

Hmmph. I totally missed that one.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week we established that debt lifts young folks’ self esteem. The next step along this ridiculous path, of course, is that our struggling economy needs — wait for it — more credit-card debt. USA Today: More Credit Card Debt Might Be Good… I find this line of thinking fascinating, really. No one has any […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68,41],"tags":[],"class_list":["post-2160","post","type-post","status-publish","format-standard","hentry","category-credit-cards","category-economics"],"yoast_head":"\nNeed More Credit Card Debt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mdmproofing.com\/iym\/weblog\/2011\/06\/more-credit-card-debt-needed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Need More Credit Card Debt\" \/>\n<meta property=\"og:description\" content=\"Last week we established that debt lifts young folks’ self esteem. 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