It's a New Day

I keep thinking about Fight Club. My Twitter friends, Eric and Duff, started a blog on philosophical ideas, and they used Fight Club as a first reference point. The more I think about the movie and the book, I truly do wonder what would happen if all credit companies were reset to zero, thus wipping out all the debt in the United States, allowing people to start over. I have debt and to have it gone would be amazing. If it did happen, what would be the consequence to it? Currently, it seems that debt is a huge issue because so many people bought homes at 100% financing at a non-fixed rate, and now they can't pay their mortgages. Also, cars can't be bought, if the consumer has a low credit score. Maybe, if we reset the credit debt, causing a contenintal balance of zero, starting fresh, things would be different in this country. Credit is a thing that is untangible. It's unrealisitic. If you can't pay for it today, you shouldn't buy it. Of course, the grey area is health care and accidents with cars, etc...but still. Starting at zero might solve some issues here. And, I am sure, it would stir up some serious issues with banks but aren't we already have issues with banks?

Idealistic as it may seem, I think that everyone deserves a second chance. I know that utopia isn't a reality because we are human, and we have emotions. But wouldn't it be nice to not have that 400 credit score looming over your head? (I don't have that low of a score, but still, many people I know do.) Or at the very least, wipe out the Student Loans. :)