It’s not always what you cannot afford, it’s mostly setting priorities😏

The following is a quote from a recent WSJ article. Of course, it is talking about Greece, but I see an interesting parallel with the so-called struggling middle-class in America. Of particular note are the words “and still do all the other things Greeks ex­pect it to do.” Substitute “and still do all the other things I want to do” and you have a clear picture of why so many Americans are struggling as we are told.

I do not make light of those Americans truly under financial stress. However, far more Americans are “struggling” as a result of their own actions. That simply means they put their wants and desires on an equal footing or even ahead of real priorities such as lower debt, saving and investing, college and the like. Instead they frequently eat out, buy lottery tickets, get tattoos, but the latest phone or TV, take vacations, spend on credit and more. I don’t call that struggling. I call that being imprudent and foolish and very short-sighted … much like your typical politician.

Walk down the street of any city or stroll any shopping mall and count the businesses selling products or services that are not necessities. How do they stay in business? It’s not the 1% keeping the nail salon or local Chinese take-out or pizza joint in business. Watch the sales at the lottery machine in your town, is it gathering dust?

Listen to the Sanders and Warrens of the world and you will think average Americans can’t buy food. What many, indeed most, can’t do is manage their money and their wants and desires.

No­body is claim­ing—as they might of a bank­rupt com­pany—that Greece doesn’t have the where­withal to pay back all its €320 bil­lion-plus ($365 bil­lion) of for­eign debt in full: The assets of the coun­try dwarf that fig­ure.

What is in ques­tion is whether the Greek gov­ern­ment can levy taxes or charges on its peo­ple—or can sell as­sets—suf­fi­cient to ser­vice its debts and still do all the other things Greeks ex­pect it to do.