The Debt Deception

The national and global discourse makes this association: Debt is to good financial practice as cancer is to good health. We’re now seeing the cancerous results of debt-centered financial practice worldwide, as countries are being eaten alive by debt, with some on the brink of collapse. We’ve been saying for decades that this day would come, and our reaping must follow our sowing.  But there’s a very personal aspect of this I have only recently realized. We’ve all heard stories of a well-off married couple, man and wife (using an outdated definition of marriage, but sufficient for our purposes), where the man dies unexpectedly. Turns out that he had no life insurance. Turns out he had $50K in credit card debt. Turns out he mortgaged the house and wasted it all in Vegas. Turns out, after all the figures come in, the wife is now hundreds of thousands of dollars in debt. We shake our heads and murmur a tsk tsk. How could he? After all, they were living...(Read Full Article)