Community | May 19, 2009 | 5 comments

American Excess: Are We Being Devoured By Debt?

source: http://suicidegirls.com/news/politics/23655/Why You Hatin On Babylon/

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AndreaKnoll
The manner in which we have destroyed our economy is astounding. We are so far from understanding and correcting our massive fuck ups that even this current obliteration of our ways has not brought up the discussion that needs to be had: Our usury laws are insane. Our usury laws drove us into debt, sped up the loss of our manufacturing base and have directly led to the murder of the middle class. And it’s only going to get worse. The looming credit card crisis will be the next shoe to drop and with deflation a serious threat, shockingly heinous and fluctuating interest rates will make it impossible for many to get by. Even ancient Babylon had laws against the shit we allow lenders to get away with.

Quite a few successful ancient empires considered usury to be worse than murder and it was punished accordingly. We, because we are an incredibly wise country, decided to toss out centuries of law and tradition. First in the early 1900’s, we began to gut our usury laws and then under Jimmy Carter they were fully disemboweled. It’s not like we didn’t have a time period to look back on and see what would happen....

Hit the link above for a brief and entertaining trip through the usury laws of ancient and modern "civilizations"....

Think we're more protected from onerous debt and the excesses of money lenders now than we were two centuries ago? Think again!
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5 comments // American Excess: Are We Being Devoured By Debt?

  • dirtymilk
  • pjacobs51
    • 0
      pjacobs51  

    • "I see all this potential, and I see squandering. God damn it, an entire generation pumping gas, waiting tables; slaves with white collars. Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War's a spiritual war... our Great Depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars. But we won't. And we're slowly learning that fact. And we're very, very pissed off."

      ~ Tyler Durden

    • 3 years ago
  • JohnA
    • 0
      JohnA  

    • Oh those evil credit card companies, they made me spend the money. I was forced to buy things I didn't need and couldn't afford, I couldn't help myself. They should be punished. And if the taxpayers could cover that new flatscreen I put on MasterCard, that'd be cool too.

    • 3 years ago
  • AndreaKnoll
    • 0
      AndreaKnoll  

    • I think the government knows how stupid it is, but has too much invested in the system to change it -- and is too in the pockets of those who would be adversely affected by pro-consumer change.

      America at one point was smart about this, with caps of 8% imposed in the colonies, followed by stricter Union caps of 6% which were put in place in 1776. American citizens are less protected from onerous money lenders now than they were 230 years ago! And we call this progress!!!

    • 3 years ago
  • stopnoise
    • 0
      stopnoise  

    • Great Post Andrea! The credit business model it is a devouring beast. Very mediocre if you want to know more. Just think about it! They start by giving you the Credit. If something happen and you cannot pay for it, they will cut you off for good. So then you have no way to pay them back since they will make every effort to destroy your financial life. What surprises me it is that the Government have not realized yet how stupid the system it is.

    • 3 years ago
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