Take Away Credit – Bring Back Reality – Can We?

 
What would the world look like if we could no longer pretend our existence, we could no longer borrow to have things that most people could not afford?
They are feeding off us to guarantee their survival.

How many people have got new vehicles, a deal so cheap you cannot believe it? You can afford the monthly payments, you can spread the cost. But what is the real cost; the monthly rental or the principal sum you have unwittingly borrowed?

People renting vehicles take on credit agreements, they call it finance.
You are borrowing the full price of the vehicle but because you do not pay the full amount at the end of the agreement, you do not notice.
What does that look like today? How many people have notice?

All of a sudden millions of people are losing, have lost, their jobs; their main income has dried up.

What guarantees did they want? What did it say in the small print? What assets or collateral did you use, did you have to use, to guarantee the credit?
Did people offer their children, their wives, their husbands, their pets; their cats, their dogs?
No, of course not.

You are a home owner. That is the guarantee, that is the assurity, you gave to say you could pay it back if things go wrong.

How many of the millions of people, who enjoyed the excitement, enjoyed the euphoria, are now coming to regret it?
How long has it taken them to convince us to live this way?

In the small print, buried in the contract, it says, if you cannot pay your home may be at risk.
Is that now what we are seeing, tens of millions of people, hundreds of millions of people, have been unwitting willing participants in the propping up of the motor industries around the world?

How many will lose their homes because of these agreements, because of the power of a signature, because of the apparent freedom to have it all?

Have people succumb to greed and fear?

But everyone was doing it, everyone is doing it, you say.

Could that have been the perfect trap?