Tuesday, January 14, 2014

The Bottomless Pit Of Debt

Debt is a heavy burden that is carried on the shoulders of people throughout the majority of life. No matter your life’s status or wealth, you may always find yourself standing at the peak of the pit of debt. In the article ‘Debtor’s Prism’ by Margaret Atwood describes debt in detail from the perspective of the debtor. There are many forms of debt in life, that vary from small loans from an acquaintance to collateral debt. "Without memory, there is no debt", opens the article. This is the greatest point of debt. No one would would have to carry on the worry of not having a firm hold on their wallet, or maintaining the ability to own a wallet. Debt is a burden born with time that continues to find new ways to expand through man kind, and not limiting to just human beings. Debt balances out the circle of life. " We get "into" debt, as if into a prison, swamp, or well, or possibly a bed; we get "out" of it, as if coming into the open air or climbing out of a hole." Debt is indeed seen or described as a prison that holds you down, as well as the debt collectors. As long as you are alive there will be someone who has to remember to come search to gain from you, and build their fortune. An uneven balance, but a balance nonetheless. In the text, life is explained to have a series of games such as, Alcoholics", "Now I've Got You, You Son of a Bitch", "Kick Me", "See What You Made Me Do", as well as various others. Each of these games speaks of the fears they instill in the debtor. Having to live on edge and not being able to be comfy unless you yourself are seeking out debtors. One of the largest dreams shared throughout the world is to be a homeowner. With home ownership comes the debt of mortgage. Paying off your mortgage in its entirety is one of the biggest accomplishments that can span over the period of 50 years, depending on the home value. " God Bless Our Mortgage Home", was said to be displayed in homes around the 1940's once families were freed from the debt of owing for the roof over their heads. Being freed from debt has to be an even greater accomplishment then becoming a homeowner. Modern Debtor's have found a relation to the fiction characters we've grown to be wary of. Ebenezer Scrooge, a character that can be found in the personality of many debt collectors and debtors alike. Companies can use and have used Ebenezer Scrooge as a label. People know that Scrooge was a man of business who would strip you of all you have until he has accepted all that you owe. Television, articles, and billboards use him as a method to place that reminder that you will remain in the hole, while they take the dirt from under you. Your comfort is held in the palms of your attempts to just live and make positive choices to better your life, and the lives of your family.
One of the most common of the forms of debt, that range from young adults into their last days of life is student loans. Depending on your finances, you may be visited monthly, or even weekly by the reaper of debt. Every extra coin you have is better off being tossed into a savings in order to keep a good hold on your future assets. I am also a victim of debt. I pause as I say "victim". I chose to request loans from private and state lenders in order to receive my education. Though I may not find everything I've learned to be relevant in my life as of today, I still have to make sure I pay back what I owe, unless I would like to be pulled deeper by interest. We don't want to find ourselves in debt, but the strain to find better pay opportunities that would allow you to flourish and find more advantages in life aren't just given out like "AM New York".
Ebenezer Scrooge can be thought of as a fictional debt reaper. For those who are familiar and or knowledgeable of "A Christmas Carol", they can witness first hand the way that life pans out on the end of the collector vs. the debtor. In the text Atwood speaks about Charles Dickens having no issue with Scrooge being rich which I take as Scrooge had to be part of the balance. If everyone in a Christmas Carol were poor, then there would be no way of getting through life, let alone the holidays. Scrooge may have been a bank for the people, but he also worked to build this status for his self. Not to say that anyone else in the tale ceased to work and make they're way to such earnings, but there must always be a balance. If everything were to remain on one level then there would be endless turmoil.


  1. What people fail to realize is that nothing goes according to plan so you always have to plan for the worst to have the best in life. Whether its juggling debt or managing mortgages always prepare for the worst.

  2. Good points here!

    But where's your analysis of a quote, nycDUW?

  3. That is true you always have to have backup plans.Life can make you rich or poor in one split second. I agree money has to move rotate and flow in order to keep an economic balance in the world.