"Debt Lust"-----FICTION

Recently there has been a spate of stories from the markets describing how soon, or how long it is going to take before all the excess homes for sale in America can be sold ---one pundit has said that it would be either a flat market remaining steady for 10 years or else a plunge of 25% in pricing in order to kick start the real estate market.

That would be some kick start. It seems to me that a plunge of that sort would put 75% of all homeowners in America in foreclosure, and the Federal Reserve to boot. Ten years of flat prices seems more attractive. Not too attractive for building contractors however.

Last night on a tv program there was an author who has written a
book on "Debt" and I think the title may be "Debt Lust"-----I wondered about the term. I never knew that debt and lust were related. Yet....we certainly are surrounded by folks that are suggesting all sorts of civic improvements that need to be financed on the public trough in order to "enrich the grandkids". How could that be bad when we would be helping the unborn and such, and even if the unborn might never be born because of so much debt discouraging couples from getting married. Everybody might just decide to remain single and adopt....just like the movie stars, and to be economical. Those extra spouses can be expensive. We all know that.

I just picked up the cellphone and gave my old friend Herman, the countryboylawyer from Normal, Mn. a call. He should know. I know he knows about debt. I wonder if he has heard the term "debtlust".

I just blurted it right out: "Herman have you ever heard of "debtlust"?

Herman let out a huge bellylaugh. "Shucks Wolfman, there never was any lust or even love associated with debt. Only death and depression. Trust me. Up here in Normal, Mn. we just pay cash for everything. That way, we have some money left over to be creative. With tons of debt. Nobody gets married. Nobody has kids. And shucks, Wolfman, I think there ain't much love with debt at all. All the companies up here are on a cash accounting basis. Accrual is just too complicated--and besides ya have to hire an accountant. This way, the guys can just use the box method. We keep it real simple up here."

It sure is good to be back home. Where we can have long discussions about debt....and accrual classifications...and accounting audits...and where even if debt destroys....it sure is kinda complicated and ...well...worldly.