2003-01-10 Americans enjoy many of the things you mentioned because of a very liberal credit policy. I don't think there is a country on this earth that allows its citizens to over charge their credit cards to the limit, pay an extremely low monthly repayment amount and declare bankruptcy when the debt burden is too high. Declaring bankruptcy in the US usually means complete pardoning of all past debts. There is no repayment.
It is because of the faith the world has had in the dollar and our economy that has allowed Americans to be abusive in their personal finances to the degree stated above. And it is the acceptance of these practices by other Americans that has kept the economy going. Unemployment is low because people are willing to work for low wages. They aren't bothered by the low wages as long as they can easily cheat the system in other ways. Such as with over doing the credit cards. The banks don't suffer much from the lack of payments, since they depend on the foreign investments they receive when foreign citizens buy dollars and invest them back in the US economy. But, things are changing. The scandals of the past summer and the rise of the Euro has taken some of the wind out of the sails. Foreign investors have taken a lot of their money out. Rising unemployment, soaring foreclosures on homes, increases in bankruptcy filings are all starting to take a toll. The banking industry is pressing congress for bankruptcy reform. They know without it they will not be able to withstand the stress of a drain on their resources without replenishment. Yes, maybe things were rosy in the past. But, don't expect it to last. To our foreign friends on this list. Could you please give us a brief synopsis of how credit and debt are handled in your countries. How is personal bankruptcy handled? How much abuse does your system tolerate? John ----- Original Message ----- From: "Carl Sorenson" <[EMAIL PROTECTED]> To: "U.S. Metric Association" <[EMAIL PROTECTED]> Sent: Friday, 2003-01-10 14:06 Subject: [USMA:24420] RE: the U.S., etc. > Mike Joy said: > I suppose I've been guilty of writing some apparently anti-US statements in > some of my letters to papers and postings here, but they are only designed > to try and jerk free this crazy John Wayne mentality that is hurting the US > so much. > > Yes, I think I understand. I haven't had too much of a problem with what > you have written. However, I'm not sure that "outsiders" are likely to be > swayed by some of your comments. For example, in your letter to the Wausau > Daily Herald you said: > "You're supposed to be the 'greatest' nation on Earth aren't you, so where's > the proof? " > > To most people, who don't see metrication as their all-consuming life > ambition, this statement wouldn't make a whole lot of sense. They would > say, "Well, we are the sole surviving superpower. Immigrants are breaking > down the doors to get in. We are the ones who invented airplanes, TV's, > microwaves, transistors, integrated circuits, PC's, and nuclear bombs and > reactors. We have little corruption, an open press, and a healthy, modern > economy with honest financial markets, a stable currency, low unemployment > and inflation, and lower taxes than the welfare states of Europe. I'd say > we're doing pretty darn well." > > In other words, using metrication as a measure of a country's 'greatness' is > leaving out a lot of other things, most of which have a lot more to do with > a people's quality of life. Now, I'm sure you already understand all this, > but if you make statements like the one above, people will call you on it. > Even your statement, which isn't very offensive, will make people try to > defend their country rather than think about your position. They won't be > convinced, and persuasion is the whole point of writing these letters, I > think. > > It looks to me like the basic reasoning in your statement is "America > doesn't use metric so they aren't as good as they think they are." I think > my style of reasoning would be more along the lines of "I have an idea for a > way to make America better. I think it will work, too. Let's see how we > can get this to happen." Do you see the difference? > > If your goal is to make Americans be more humble and less snooty, that is > certainly worthwhile, but I'm not sure that your sentence is worded in a way > that would accomplish that. "Where's the proof?" is almost a personal > challenge, like "I dare you to prove that your country is so great." They > will take you up on that challenge, at least mentally. To get a person to > think like you do, you want show that you are on the same side or use humor > or something. For example, even something like, "Get with the program!" is > basically saying, "Hey, Americans, we have a consensus here. Come join our > club." In my mind, it is inclusive, not confrontational. > > Well, those are my thoughts. I wouldn't say that the things you have > written are offensive (not like some people's comments), but they aren't the > way I would say things. > > Carl > > >
