So, if the big economic legislation does not get passed, we are told credit will freeze and life as we know it will change. A life without credit cards, a life without home loans, a life with business loans…how awful. Or would it be? Oh I will admit, it would slow innovation and profits for businesses because businesses would have to have the money before making innovations, but I am not sure that that is trade off I am unwilling to make. I know life would be different. I know everyone a day out of college could not afford their own home. I know it might mean that certain purchases may not be possible immediately. It would mean the used car market would soar and the new car market would shrink. But perhaps those old ways of borrowing ans spending are not the best way to live anyway. Perhaps this crash would bring us back to the reality. Perhaps it would make us and the banks operate on a simple principle, spend what you have. Yes, life would change, perhaps for the better.
What if Credit were gone?
Sometimes I wonder what Jesus would do with a wallet full of credit cards? Charge the wine needed for the wedding party? Order in for the last supper? Silly, yes, but so are we for refusing to live within our means. My husband’s parents sent 10, count ’em 10, children to college with out any credit. I always think, if they did that, I can do anything! We’ve been living on a cash only system (out of necessity) for 2 years now. It is delightfully simpler and less stressful than our old lifestyle of credit. If everyone had to do this, we would survive, find out it’s preferable, and we’d stop filling the earth God gave us with useless heaps of discarded purchases. I think it’s a God-thing.
It seems that, unfortunately, we won’t have the chance to find out.
That’s what I’ve been saying too, wow. Let the market stumble and bring us back to reality. We need to “suffer” like our grandparents did in the Great Depression and learn to live within our means!