Lessons from Greece

We have all heard about the troubles Greece is enduring. Several other countries are teetering on the precipice of financial ruin as well. Our own national debt is rising at an alarming rate. It is only a matter of time before the entire pyramid collapses and we face a global depression that will make the one back in the 1920s and ’30s look like a hiccup.

Credit is the reason we are now in this situation. Each country imports stuff from everyone else without actually paying anything. They were trusting that their own exports to these same countries would somehow balance it out. Greece has shown us the error of this way.

On a personal note, credit is also bringing families to the brink of ruin. People have become enamored with instant gratification and often have as many as a dozen different cards on their person at any time.

The logical thing to do is to cut up these lures. If you are unable to take such measures, then limit your credit expenditures to the one card with the lowest interest rate. Money should be a servant; not your master.

Douglas Benn

Spokane