The Chickens Come Home
By Cal Thomas
Fox News Forum
There is an old Puritan ethic called “living within your means.” In modern times the idea of Puritans and being “puritanical” have come in for much satire and even derision. But it is a fact (just as it is a fact that abstinence is the best practice for avoiding unintended pregnancy and STDs) that living within one’s means is the best way to avoid financial calamity.
Too many have ignored this ethic and bought houses they could not afford and their salaries would not support. Too many lending institutions were happy to lend them the money out of a misplaced faith that home prices would escalate without end and that if disaster occurred the federal government could always bail them out.
This would be understood in the Puritan era as greed. Many are now paying the price for their greediness and failure to live within their means.
We should not fear failure. It is often an excellent teacher if one is open to being taught.
Fox News Forum
There is an old Puritan ethic called “living within your means.” In modern times the idea of Puritans and being “puritanical” have come in for much satire and even derision. But it is a fact (just as it is a fact that abstinence is the best practice for avoiding unintended pregnancy and STDs) that living within one’s means is the best way to avoid financial calamity.
Too many have ignored this ethic and bought houses they could not afford and their salaries would not support. Too many lending institutions were happy to lend them the money out of a misplaced faith that home prices would escalate without end and that if disaster occurred the federal government could always bail them out.
This would be understood in the Puritan era as greed. Many are now paying the price for their greediness and failure to live within their means.
We should not fear failure. It is often an excellent teacher if one is open to being taught.
posted by Andy W. Rogers | 7:48 PM
1 Comments:
From RushLimbaugh.com:
""I think it's safe to say, ladies and gentlemen, that houses for people who cannot afford houses is a failed experiment."
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