Tonight, while reading Jim Kunstler's blog and getting depressed (then reading Robert Reich's blog, which is usually more upbeat, and getting really depressed), I had a thought. I've been worrying about Christmas, and the cost of all the presents at a time when money is tight and saving it seems like a really good idea. What will I get the kids? How will I afford something nice for my wife? Does everyone else in the family get White Elephants this year?
Then it came to me: Gather up all the credit cards in the house, max them out! I mean, what the heck, go wild. Afterwards, ignore the bills, let the bank stew until they ask for more money from the government. I mean, I'm already in for $9200* or so for the family from the current bailout, and I dont have anything to show for it. At least this way I'll get a LCD TV or a new heater core out of it.
Here's the beauty of the plan: Say, worst comes to worst, and they force you somehow to pay back the money. Well, most economic experts seem to think that there will be some inflation before this is all over, the serious doomsayers predict massive inflation. If they're right, the money you spend now will worth less (or possibly even worthless) when you pay it back. You Win!!!
Well, that's the theory, anyway. I wont really do it. Basically, that would be stealing (being pre-meditated and all) and my depression-era parents didnt raise me like that. Considering how handy the lessons they did instill in me may come in as this economic mess gets worse, I guess I cant complain if that particular one is forbidden.
It's a shame though. It would've made for one hell of a Black Friday.
* 700 billion divided by a 300 million population makes about $2333 per person so that banking CEOs and AIG execs dont lose their bonuses
4 comments:
We've had a tax cut in the UK to reduce the cost of goods, so we spend more money we don't have...
*sigh*
It cannot go on forever, but the longer it lasts, the harder it stops.
An economy based primarily on consumption is an economy with a death wish.
I wonder if Dennis Miller, when he joked about America not having to pay China back for all those loans, foresaw things like this coming.
I still think credit cards will be the next "business that can't be allowed to fail." Can't wait to see VISA and American Express in Congress.
WV: "fasmag" (isn't that a ten-yard penalty?)
Nope, it's what the National Review is.
Mine today: "dermis"
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