The American Dream

Bankers promise the American Dream if you borrow enough. Then, about the time collectors start snarling at your door, your bankers are enjoying their own American dream. My day job requires pitching the company credit card, promising "ten-percent off on approval." Then, the very first time you're late making a payment, the interest rate climbs and they slap you with a penalty. Their strategy is simple: Most people will space off a payment at some time. When they do, the card issuing bank recovers far more than any signup premium they allowed. You know that, and I know that. Why, then, do we have to keep playing our silly credit game? Because retailers are no longer satisfied with the legimate profit of merchandise markup. To compete, they must rip-off the gullible public with promises of "free lunch". But before we get all righteously indignant about the evils of capitalism, let's analyze where the foundational fault finally falls. Human nature demands the promise of a free lunch. We fallen beings are as discriminating as fish, always ready to grab the bait-covered hook. But rather than fighting the fishing line, we grouse and moan about the dirty trick while being reeled in to bankrputcy. How does that make the banks' stockholders any richer?