Will Admirable Efforts to Reverse Things Really Matter?

Lately we've seen efforts to reverse things. Will they really matter?

We're talking about things like uncontrolled illegal immigration; all sorts of woke/DEI policies that, while possibly pushed to create a more "equitable" world, have resulted in absurd rules and regulations that no sane person can take seriously; out-of-control government spending; debt forgiveneness schemes that reward those who piled on debt, but ignore those who prudently avoided or minimized their debt load by limiting or eliminating spending on stuff like vacations, fancy leased cars, and other forms of what is basically self-indulgence. 

Last time we ended our remarks with this: 

Will current efforts to reverse the debt mentality that plagues us change things? Only time will tell. But if it does, it won't happen overnight. Meanwhile the damage done is, frankly, incalculable.  

Let's pick up on this and see what we come up with 

Before we do, we tip our cap to the unofficial end of summer. Labor Day arrives on Monday. That's the traditional signal to kiss summer good-by. Yes, the official end of summer/beginning of fall doesn't arrive until later in September. But no matter, it's here. 

For fans of hot summers, this may be a sad day.

For those of us who can't wait for fall to arrive, we're loving Labor Day.

As for what Labor Day is, well, we'll leave that for another time, likely another year - if we live that long.

Now, this debt mentality things is a plague that's slowly, then not so slowly, built up for many many years. We know this based upon both history and personal experience.

As for as history goes, once upon a time, folks saved their nickels - and it took a while to do this, of course - so they could buy a house. That was their default. They might not hit their target of buying a house for cash, but they gave it a shot. And if they didn't manage to save up enough, well, it was mortgage time.

Mortgages weren't anathema. But once assumed, they were were an unwelcome visitor. Folks prioritized paying them off. It was a big deal to pay off a mortgage. Indeed, there was a time when folks who had paid off their mortgages invited the neighbors to celebrate. They burned their mortgage obligation in front of one and all. It was a great day.

Think about this. Does anyone do this anymore? 

Of course not. We are all subsumed in a modern day version of Debtors Prison. We no longer find ourselves able to simply save our nickels buy a car anymore, Everything is dependent on taking out a loan, or leasing the thing. Sure, there are wealthy folks who buy for cash. And there are some of us who simply hold onto our cars to allow us to save up and buy for cash. But these are exceptions. (And of course, there's lots the really wealthy can do that the vast majority of us can't even think about.)

And with all this debt, and our debt mentality, we find ourselves permanently locked into a world fashioned for the benefit of banks and other institutions that lend money. They've got us just where they want us - permanent serfs with much (in some cases most) of our working hours devoted to paying those mortgage, credit card, auto loan/lease, payment plans for consumer purchases, etc. that come every month without fail. 

For those of you who have at least a cursory knowledge of history (and there are fewer and fewer of us out there), think of medieval serfs. Compare? 

Can any of this be reversed in our lifetimes? Or are were in a true permanent state of serfdom?

So with this Labor Day weekend, we find a connection - or at least a connection to the concept of "Labor." Will our labor continue to be more and more consumed with the objective of paying off ever rising levels debt - debt that we simply accept as an inevitable part of life in our current world?

Well, it's time to cool off the brain cells and allow some holiday respite to refresh us. Ideally, labor will play a diminished role in our lives the next few days. But, of course, those monthly bills never take a day off.

With that (albeit mixed) cheerful thought, enjoy the Labor day weekend!