Break out the party hats! Friday’s article on Yahoo touted the “good” news that mortgage lenders are easing up on lending rules. As for me, I can’t help but have flashbacks to the big housing bubble, and the subsequent 2008 crash that kinda sorta led to the beginning of America’s financial glass house tumbling down. As Jim over at Critical Financial pointed out, the media’s having a heyday, and urging everyone to jump on the spending/getting into more debt bandwagon as the U.S. stock market soars higher and the housing market experiences its first real “surge” in 5 years.
My question is: WHEN IS AMERICA GOING TO WAKE UP AND SMELL THE COFFEE? Seriously – how long can we live in this world of denial? While a few still sane people are still pleading with people to buckle down on spending, the majority of American consumers are taking the media reports of a recovering economy as eagerly as their morning latte’ at Starbucks, and paying out the nose for it in the process.
My dear fellow Americans: as long as the U.S. Government still has 17 trillion dollars on debt, and as long as Americans still have an average credit card balance of roughly $15,000, things are far from rosy, at least economically, here in the Land of Opportunity. It’s almost as if media is purposely pushing consumer debt and spending to the limit, so that when the SHTF, it will hurt to the point where for many, it’s unrecoverable.
SO: are you going to fall for the bluff, or are you going to seize this opportunity to begin your journey to debt free, and further yourself from your own economic disaster? It’s D-day, people. Get on board, before it’s too late for you and your family!