Stretching The Dollar
Have you ever wondered why things have gone so horribly wrong? Let me begin with a few figures:
- In 2003 Americans had 1.46 billion credit cards, or five per person.
- In 1946 households had 22 cents of debt for each dollar of disposable income.
- Today that figure stands at $1.26.
I guess, in some way, this explains why we suffer today. We have been optimists for too long now. We believed that we could repay today’s debts because tomorrow’s incomes will be higher. Well, I guess at least that belief is now shattered. It’s unclear what will happen now. Though one thing is certain. We don’t have much of an option now. If we must survive in the America of today, we must learn how to stretch each dollar.