Drunk on Credit

When credit is used, it creates debt.
This nation, and many parts of the world have abused the easy access of credit and we are now paying for it. With every new generation, came new debt. Our great grandparents carried less debt than our grandparents, and our parents had/has more debt than theirs. There was a time not that long ago that folks actually saved for stuff.........I shit you not, they did. If they needed new furniture, guess what....they would save for it, then when they saved enough money they would go and purchase it.
Pick up an old, like really old newspaper, or magazine and check out the advertisements and what do you see..........yah things were cheap back then, but what you may notice is there is no "0% financing....No Payments for 12 Months........We Finance Everybody".
Yup.... no credit. People saved then purchased. Today we can't live without credit and we have gone so far, taken on soooooooo much debt that we can no longer service it..... in other words we can't even make the interest payments on the debt we have accumulated, so we keep leveraging assets and future earnings just to sustain our standard of living.
This is across the board......consumers, governments, corporations......etc.

Well what's with the drunk thing?
We are told, and were told over and over that we must help the banks so that they can lend to us, give us more credit...........Oh yah just what we need more debt. That will fix it.
So let's get drunk. Yippeee.

So you pull up a stool in a local bar and your sober as sober can be. You have a drink. Are you drunk? Fuck no.......it hasn't even effected you in the least. You have another and another...etc...and if you stay there with your ass planted to that bar stool (occasional pee run may be needed) you will drink till you have no control of what your body does and you fall off your bar stool.
So the bar owner helps you back on your bar stool and suggest that you buy another drink stating that it will fix everything and you should be able to walk straight if you buy just one more.

Anyone that has been even close to that scenario knows damn well that when your that drunk, the last thing you need is a drink.
So why do banks want to give us more credit when we are already drunk on debt?

It's all our economy has. That's where the growth comes from, that's how we have been able to accumulated more stuff than our parents.......and they accumulated more than theirs...etc.
Just like the drunk in the bar......he wasn't drunk with his first drink, it was the accumulation of drinks that caused him to fall off his bar stool.
And again.....it's all over the place....that scenario pertains not only to consumers but also to corporations, governments, banks......all over leveraged.....tooooooo much debt that can no longer be serviced.

Have we reached the debt pyramid? If not, how will we deleverage our debt?
What asset can we leverage next?

I hope whoever reads this doesn't pull the oh he's doom and gloom crap.
The US and some other nations are entering a period that none have been through before.
There are some excellent links on the right gadget bar with tons of info......not to scare but to educate and prepare financially and mentally.
I will post from time to time on what I think is going on and where we are going.