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I think that in one of my past posts I have mentioned that I think that part of the blame for today’s financial crisis is demise of so-called old-fashioned values… I have come up with an explanation to what is going today and why, and I set it in the family values. Here is my train of thought:

In the old days, family provided a security cushion to all its members. Brothers could count on brothers to get protection and hand-me-down old clothes. Sisters were protected by family, which made sure that their purity was intact until they were married. Of course as every family everyone was striving towards better life – parents were hard-working to provide for education and housing for their offspring, in exchange for respect and care when the old age came. There was no other way, in order for the family to reach better social standing and have more, goods and riches gathered (if any) needed to be passed on from generation to generation. In other words, many people had to count on the family support when they were hoping for advancement, the same people had to have offspring to guarantee that those same things will be passed on further and that there will be someone who will take care of the old.

Enter credit age and those traditions have died. Now a son does not need his father at all for anything, quite the opposite, elderly parents have become a burden. No one needs to save up for anything – simple credit application guarantees you all things you wish for, even those you cannot really afford. People have kids because they want to, not because they want to preserve their line or pass anything to them. Everyone on its own for its own enjoyment – this is the motto of today.

We all know where this has led us. Less kids, more debt, and there is no one to pay it back. There is no one to care for older people. Governments are busy printing currencies in order to satisfy consumption demand on one side (through credit) and in order to at least preserve validity of economic laws… This will not last for much longer.