A fellow sailor I know had to close his Black American Express card. Not because he couldn’t pay the bill, but because his wife had a peculiar habit of blaming everyone but herself.
Every time she went to the mall and came back with a bill that looked like the national debt, she said it was the mall’s fault. When he showed her the card statement, she said it was the card’s fault.
So he called American Express and canceled the Black card. Now she’ll have to make do with a Gold one. And as he told her, “Who do you think I am—the U.S. government? You think I can just print money every time you spend?”
And there’s the moral:
- In a household, the spender is the problem, not the mall or the card.
- In a nation, the spender is still the problem, but instead of closing the card, they open a printing press.
- The family tightens its belt; the government loosens its collar.
Maybe the wife and politicians know something, as the dollar goes down, it is better to spend it now. Does not really solve any issues, but it keeps you from doing something sensible like buying gold to hedge against inflation.
The only question left is which one will run out of credit first.
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