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Sunday, October 21, 2012

Day 188: Payday Loans Are Like Heroin Addiction

http://www.dailymail.co.uk/news/article-2220769/MPs-fear-toxic-payday-loan-cases-soar.html

Payday loans have become popular the world over, but, as indicated by the article above, some people have become dependent on these loans. One couple has taken out 36 payday loans between them. It seems as though lending practices change every week - one week it is impossible to get any for of credit and the next week you have banks practically begging you to take their money (at sky high interest rates).

Payday lending is unsustainable, it's very existence was borne from an already crumbling debt based economy. Maybe those who conceived of the concept of payday loans thought it could work as a band-aid to help people get through a tough month, but they did not take into consideration that with the cost of living rising and employment rates and salaries falling, people are at risk to become completely dependent on these loans, because every month is a tough month.

Payday loans are described as "toxic" in the article as they seem to be so easy to get and the general view of these loans is that they are quick and convenient, and so people underestimate the actual financial commitment they are entering into. But then again, when you need to put food on the table in this economy, sometimes there simply is no other choice.

The only toxic thing going on here is the system, which is unfortunately the foundation for everything in our lives. I say unfortunately when I really mean it's all our fault cos we are the idjits who created this mess and participate within it every moment of our lives without question. We live in a world where genocide is committed weekly, if not daily, all for the dollar signs in our eyes. We cannot see that this whole system is collapsing in on itself and we're the poor sods standing under its roof with no way out. We actually care more about famous people, fashion and sex than we do about the rhinos being butchered for their horns, or the multitudes of habitats being destroyed for the purpose of farms or golf courses, or the toxic and radioactive waste that we have and do dump into rivers and oceans and holes in the ground.

It's not money that makes the world go round these days - it's debt. Everywhere you look, everyone is steeped in debt. No one talks about the fact that money is a made up and irrelevant "resource", because everyone wants to have lots of it. Why should we question the world we were born into? Who are we to change that which our ancestors have built and bequeathed to us? Why should we give up all this cool stuff and all of our dreams for all the unlucky ones cursed by their time and place of birth? It's not my fault, so I'll just make the best of what I have and keep on trying to get rich quick and be happy!

We like to pretend that our lives are the most important in the world and that we must ignore everything around us until we are in a better position to contribute in a constructive way, maybe through donating some money to a good cause. This kind of thinking will do us in.

Please stop being a selfish prick. We can each make a difference. One Man, One Vote - www.equalmoney.org

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