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Maxed Out January 15, 2009

Posted by shwaldman in Politics, Society.
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Last night (while getting in some time on my treadmill), I watched the documentary “Maxed Out.” It was from 2006. TWO THOUSAND and SIX! It has been in my NetFlix queue for a while now. I knew the premise and didn’t think of making it a priority to watch since we have managed to steer clear of financing much of anything. To be honest, I am quite proud to say that we only finance long-term assets – the house, cars, and occasionally furniture and appliances. But enough about me, I want you know why you need to watch this movie.

I like watching different documentaries on various subjects. But this documentary lays out quiet the scenerio…. and wow, here we are in 2009 and the world has finally awaken to a sad reality. The credit companies “helped” a lot of people get very, very poor. I was going to “made them poor”, but there does have to be some personal responsibility in our world. And while I do not blame the NRA for crime and the tobacco industry for my own father’s lung cancer, companies and whole industries should have the same personal responsibilties as our citizens. But yet again, it is the responsibility of our government apply appropriate justice. They eventually took care of tobacco, they are dragging their feet in allowing AK-47s on our city streets, but they definitely dropped the ball with the credit industry. And now it is too late!

Last time I checked, while many people and other companies are filing for bankruptcy, I haven’t heard about many credit card companies running short on funds. It was interesting that the person in the movie that came out and said it was Robin Leach…. “the rich are getting richer and that isn’t going away.” The problem we have is that free-market capitalism just does not work in a democratic society. They just don’t mix.

Now in order for me to justify that statement, I have to include the primary two princples of democracy. The first principle is that all members of the society have equal access to power and the second that all members enjoy universally recognized freedoms and liberties. And my intrepretation of that first princple is regardless of financial situation. In other words, our democratic (little “d”) government MUST protect all people from the all others. And in this situation, it is quite clear the credit industry has preyed on people who can not protect themselves. Watch the movie and see what I mean – you can see on-demand (online) at Netflix.com without even waiting for the DVD in the mail.

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