Sometimes I think about money and I wonder how America got into the situation it is today, where everyone thinks being in debt is the bee's knees.
The most compelling idea I've come up with recently is pensions. A pension is basically guaranteed pay at regular intervals for the rest of your life. If you have guaranteed pay for life, there is no reason to save up. There isn't any need to save for hard times if you will always have money coming in.
So I think that could have something to do with the rise of debt in America.
But these days pensions are no where to be found. So just like every other point in history, people need to be conservative with their resources to ensure they can make it through hard times when they come.
That's all I have to say about it I guess.
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