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After reading a number of news articles this week about subprime mortgages and the investigations involving the credit card industry I've come to the conclusion we live in a country of idiots when it comes to money.
How can these people function in everyday life and get into so much hot water when it comes to their finances? Is the lure of the good life so blinding they can't see their empty wallets?
This brings to mind a story about one of my nieces seveal years ago. She joined a health club and paid monthly for her membership. After several months she moved and didn't use the club, so she stopped sending in her monthly dues. It didn't take long for the creditors to find her and demand payment on her loan. Loan? Yea a loan, she signed up to pay the annual membership in monthly installments and either didn't know it or conveniently forgot about it. I wonder what she was thinking, if anything?
I think the financial industry in the US has found an unlimited supply of suckers that are ripe for picking. Unfortunatly most of the suckers are poor to start with and getting poorer by the day.
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100% retired and working hard at it.
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