Nothing Good Comes Of Debt

The fallout from the coronavirus is cutting a swath of destruction through the finances of millions of everyday Americans. Those living beyond their means, overextended on credit, and who suddenly find themselves out of a job are among the hardest hit. The rhythm and momentum of regular paychecks can lull people into a false sense of security, an assumption that money will continue to arrive in their bank account every two weeks. But for many of the hapless victims of this pandemic, the abrupt economic upheaval has jettisoned an untold number of Americans to the precipice of financial ruin.

House of Cards
The truth is that the American economy has been a house of cards for a long time. America bought into its own delusion - that it was the richest and most powerful country in the world. Technically, that is correct. But the most important detail of that statement is that the country’s wealth is only held by a tiny fraction of the population - the one percent. The rest of us – well, we are just supporting that echelon. The average American is not rolling in wealth. The average American has not seen a meaningful increase in wages in decades. The cost of housing, healthcare, cars, food, hell – everything – has increased exponentially, while wages remain stagnant.

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