The Recession is my Fault!

As a student I’ve come to realize that to achieve a Bachelor Degree based solely on loans and credit I shall come out at least $100,000 in debt. This I have found across North America to be the norm. Debt ridden students are not hard to come by and even plays a role in many satirical jokes around family tables.

I’ve also found that class structure in the academic pursuit pathway is still as rampant as ever. Coming across a few good websites for how to aid those in the lower class spectrum, the Coalition for Student Loan Fairness is one that seems to provide the most information and chances for change and becoming informed on the situation and process that Canada follows in its Student Loan Programs.

Alas but what does this have to do with the recession being my fault? That insight comes from the fact presented to me from my debt collectors FAQ. After explaining how peace of mind from profession debt collection services providing services to the consumer and the credit grantors and explaining how people from all walks of life end up on their lists, they give the wonderful advice to stay calm and realize just as consumers depend on their income to survive so do credit grantors depend on their loans being paid to continue their business as a successful practice.

This I can agree upon as a state of how the economy works. Ignoring the fact that monetary funds and credit card companies fueling the problem of throwing people (like myself) access to funds that they have no real means to achieve. Keeping us in debt for years to come.

What really sparked my emotions was the last question and response which is stated as follows.

How does bad debt affect the economy?

Because businesses need to cut losses, the cost of bad debt is often deflected by raising consumer prices. Since there is a limit to how high prices can be increased before business begin losing customers, bad debt also results in business failures and job loss.

To me this implies that the backlash from my bad debt and lacking a moral will to pay off that which was foolishly given to me in the first place by the MasterCard is a contributing factor in the recent degradation of our global economy and the resulting recession. To those that have lost their jobs and businesses I apologize. Not to you individually but to the system as a whole that functions in this backwards idea that to make everything fluid and productive we need to facilitate the money lenders and allow them to raise more digital dollars.

The recession is not my fault. It’s the systems of stocks and bonds, and loans and debt that are the cause. Please don’t humor me. I may be young and brash, against the status quo, but I am not a man made of magical money. I do not have family with buckets of stored information of money made. I, like millions out there in the world, am striving to better myself and my future, at least cut me some slack on insulting my intelligence.