Tag: delusion

Put It on My Tab

A friend of mine once cut up her credit cards and closed her accounts because, she said, “those pieces of plastic are evil.”

creditcards

I thought this was a bit overly dramatic (she was that type of person). I also thought it was convenient to blame her chronic debt on inanimate objects rather than, say, her nonexistent self-control and materialistic tendencies.

In any case, we all know people who live beyond their means, and it’s true that many individuals teeter on the edge of bankruptcy because of their shopping addictions or love of new shoes or willingness to fly first-class to Italy for the hell of it.

But a recent study has found that when it comes to Hispanics, living large is often not the reason for going into the red. The study found that almost half (43%) of Latinos who have credit card debt depend on the plastic to pay for basic living expenses. And a significant chunk of the rest are using credit cards for tiny splurges at best.

So if Latinos are not slapping down credit cards on impulse buys and charging luxury items, why are they in so much debt?

Well, Hispanics report that the main reason for their debt is the loss of a job, and they’re more likely than other groups to say that medical costs also contributed to their financial issues.

The researchers theorize that because Latinos lost so much of their wealth in the Great Recession, they’re having trouble restocking checking or savings accounts. So putting basic items or medical expenses on credit cards often seems to be the only option.

This, of course, sucks. But as is often the case, the survey also found that Latinos are more optimistic than the overall population. So they’re more confident about paying down their credit card debt quickly.

This optimism, which borders on delusion, leads to some interesting contradictions.

For example, another poll found that almost half of Latinos (49%) said they were worried that someone in their household might become unemployed soon. Yet the same survey found that almost three-quarters of Latinos (73%) are optimistic about their finances and future opportunities.

Frankly, that’s a bizarre balancing act of fear and hope.

But maybe these results just show that Latinos are still jumpy about their financial status, years after the economic meltdown. The Great Recession so ravaged Hispanic households that many Latinos are leery about declaring that the worst is over.

At the same time, Latinos tend to be more optimistic than other groups about their future. The main reason for this positivism seems to be the immigrant mindset. Many Hispanics remember struggling in their home countries, or they hear the harrowing tales of their parents. As such, these Latinos usually have more faith in the American system and a stronger belief that their financial situation will improve.

We should all really, really hope they’re right.

 


And Another Thing…

I recently found out that I have distant in-laws who live in Ferguson. They are my wife’s extended family, and I met them once in passing about a decade ago. That is my only personal connection to the city that has joined the short list of places whose very name signifies tragedy and/or disaster (e.g., Newtown, Chernobyl, etc).

In any case, there is not much I can add to the national debate over police brutality and systemic racism. I have never claimed to speak for all Hispanics, and I certainly can’t claim to speak on behalf of blacks. Maybe Charles Barkley can handle that.

barkely

But I just want to reiterate a couple of points that many people seem to have forgotten during all the chaos in Ferguson and the outrage over Eric Gardner’s death.

First, claiming that Brown, Gardner, et al were no angels is irrelevant. It only implies that you think cops have the right to execute people in public, without a trail or even a charge. You should rethink this position. Really.

Second, changing the subject to black-on-black crime is also irrelevant. There’s also more white-on-white crime than interracial crime. What does any of that have to do with whether cops are out of control or not?

Third, claiming that racism doesn’t exist is just idiotic and/or self-serving. Similarly, claiming that you don’t see color is either a lie or a tremendous delusion. It’s been scientifically proven that you do see color, so just drop the above-it-all attitude.

Fourth, stop insisting that if ethnic minorities just behaved, they would not have issues with cops. This is not only insulting and condescending, but laughably naïve. There is a whole trending item about how the police perceive white people differently. Check it out.

Lastly, go ahead and condemn violence and the looters. But don’t let that distract you from the real issues here. And those issues are legion.

 


An Ice-cold Serving of Reality

As everybody knows by now, uber-nerd Nate Silver called the presidential election weeks ago.  Lots of progressives, like me, watched the returns with a certain sense of calm, well aware that Obama was going to win.

But for some Republicans, it wasn’t just a disappointing loss. It was also a stomach-churning shocker. Many conservatives are so self-deluded that they believe reality and facts and hard data are secondary to their own hopes and opinions.

For them, Romney’s loss created more than just standard depression. It unleashed an overwrought wailing that, to the rest of us, resembled high comedy.

Honestly, how could they be surprised? For months, people like me have been saying that Latino voters would punish the Republican Party, and that this could be the difference in the swing states.

Indeed, Obama won a startling 71 percent of the Hispanic vote.

Still, some conservatives, even the Latino ones, were predicting a Romney landslide. After the fact, however, even Hispanic members of the GOP had to admit that “Latinos were disillusioned with President Obama, but they were terrified of Mitt Romney.”

Now that the accuracy of that quote has been verified, some of the most xenophobic elements of the conservative movement are saying, “Gee, maybe we should rethink our hatred of immigrants.”

And all it took was getting their asses kicked.

Of course, delusion is still a powerful force within the Republican Party. Many higher-ups in the GOP still insist that Latinos only voted for the president because we’re going to get free stuff.

Well, if that’s their explanation for Romney’s loss, and their plan for the future, I look forward to reading history books about the Republican Party. They will be there, in the section that talks about the Bull Moose Party and the Whigs. And they will be just as relevant.


What? Me, Worry?

A year ago, I wrote about how the Great Recession hit Latinos hard. At the time, I was hopeful that the worst was behind us. Perhaps that was my natural Hispanic tendency to be optimistic.

After all, Latinos “are worse off, but they are still more positive about where the country is going” compared to most Americans. In particular, “Latino small-business owners are among the fastest growing and most upbeat [groups] in the nation,” and they “worry less about job security and are more positive and humble.”

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Remember, Envy Is a Deadly Sin

“There’s class warfare, alright. But it’s my class, the rich class, that’s making war. And we’re winning.”

—Warren Buffett

Eat the rich!

—Aerosmith

In Manlio’s Argueta’s gripping novel, One Day of Life, soldiers of a repressive Central American government beat and abuse poor villagers. The peasants’ crime, as one militaristic thug puts it, is that “they don’t love the rich.”

It’s a rather harsh reaction to expressing displeasure with the ruling class. We haven’t come to that in the United States, at least not yet.

Still, the concept of class warfare, invoked primarily by right-wing politicians, holds that middle-class and poor people are simply jealous of rich individuals, or that they are being riled up to hate the wealthy.

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