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Exploring the feelings behind the worldview theme--another project WORLDVIEW theme song...
for theme #45A: Borrowing Mentality
Card” by Stephen P. Cook
to be sung
to the tune of “Different
Drum” by Michael Nesmith / Linda Ronstadt
You and I argue if I run up credit card debt1
How can you be my sweet loving pet
When you so often lecture me?
You laugh and then suggest big debtors
Once were chronic bed wetters2
And the girl you marry will be debt free
Oh with your good salary
What’s the big deal?
And why all of your budgeting zeal?
Seems you prefer your money to me?
You joke I’m banking on The Rapture3
To avoid debtor prison4 capture
But with bankruptcy5
Couldn’t I become debt free?
Whoa—No way! That’d be cheating6
You say we can do some dealing
We’ll both be happier
If I avoid bankruptcy
So goodbye my credit cards7
I’m cutting you up, this isn’t hard
So you’ll pay off my debts
And then marry me8
using a credit card is an example of unsecured consumer debt.
This debt can grow beyond the original cost of the
purchases with the addition of interest charges—levied on debt
not paid in timely fashion, typically about 16 % / year—and
late fees. Overall as 2013 ended, the typical USA household owed $6690
in unpaid credit card charges. Nationally such debt
stood at just over $800 billion.
Perhaps connecting debt and bed-wetting and is mere silliness, but one
can argue otherwise! Bedwetting has been called “the
hidden problem of childhood.” Certainly high levels of (not
immediately visible) debt can cause economic problems. Buying
things one can’t afford involves instant gratification: the
thrill that comes when you immediately get a desired something.
Driving this, some would
argue, is a childish "I want that now!" force.
For some, this force is powerful enough to overcome
the opposing force: a rational,
restraining adult attitude questioning whether it’s really needed / if
there’s money to pay for it.
many Christians, this is when life as we know it ends with Jesus’
return and the final resurrection.
prison was where people unable to pay their debts ended up in England
(Charles Dickens wrote about them) and
western Europe up until the mid 19th century.
Eventually bankruptcy laws helped do away with debtor prisons
remain in a few places (including the Middle East, Greece, Hong
bankruptcy courts can rule that people can walk away from some debts,
usually this is a last resort for debt strapped
consumers. Those declaring bankruptcy will typically be unable to
borrow money for years —not surprising given that the card
issuers and retailers are often big losers in personal bankruptcy
verdicts. In the 2008—2013 time period, USA consumers
defaulted on $261 billion in credit card charges.
the intent, when the debt was contracted, was not to repay, then yes,
this would be cheating. More
circumstances (like unexpected health emergencies) are behind
bankruptcy. But it does
represent reneging on a promise!
a typical USA adult has three or four credit cards some people have many
song has a cute twist. Whereas going into debt helps untold numbers of
people have something they want now without
waiting, here what is desired (marriage!) won’t occur until the
credit card debt is paid!
Comment: Those running up big debts may be
financially irresponsible, but are they emotionally immature?
The first sentence in this theme’s description
suggests those who value it may be lacking in the ability to delay
gratification (see note 2), which some link with emotional maturity.
Indeed, a 1988 research report authored by Mischel, Shoda, and Peake,
found that “pre-school participants’ ability to delay gratification
…was a strong predictor of their coping ability in a ten year followup
back to theme #45A
Musicians--We'd love it if you perform this song! Please contact us!