Galina Thinks I’m a Compulsive Debtor!

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In this episode of IAFF, Galina confronts Casey with an accusation of addiction; and Casey is in denial.

Galina accuses Casey of being addicted, first to gambling and then to debt. Casey takes a Debtors Anonymous quiz and gives typically vague and self-centered answers:

Do you justify your debts by telling yourself that you are superior to the “other” people, and when you get your “break” you’ll be out of debt overnight?
I wouldn’t call it superior… “creative” maybe?

although at times he does show some self-awareness:

Living in chaos and drama around money: Using one credit card to pay another; bouncing checks; always having a financial crisis to contend with.
That’s more or less the story of my life since high school.
A tendency to live on the edge: Living paycheck to paycheck; taking risks with health and car insurance coverage; writing checks hoping money will appear to cover them.
Yes, Yes, Yes, Yes… (Man, is it this bad?)

Yes, Casey, it is that bad. The signs of compulsive business debt seem to strike Casey hardest:

Ouch! That hits close to home. Really close. To think about it, in all my prior business ventures and entrepreneurial attempts, I have NEVER had a detailed written business plan! That really hit me just now in a whole new way.

Casey also describes his disturbingly-Freudian envy of the Suprun household pet:

For some reason I always feel like I can land on my feet. Like a cat. And I don’t even like cats (at least not the one that live here with us… it belong to my sister-in-law… Galina seems to find a little too much comfort in petting it… which make me a little jealous, if that makes any sense.)

Has Casey hit bottom? Will Galina's "newfound backbone and boundary setting" be able to control his irrational exuberance? Is the cat getting more than Casey? Stay tuned, haterz.

[edit] Comments

In the comments, Casey reveals that his mostly-vegan diet includes baked beans; and answers questions in a more-or-less completely evasive way:

What did you spend the begathon money and CD duplication money on?
Don’t remember exactly. Some of it was used for business trip to Phoenix.
Why won’t you get a job?
Good question.
Did you buy those GSPG shares?
Good question.

He defiantly denies any mental illness: "She was almost to a point of treating me like I have some kind of a disease (compulsive debting) or something. I know I’ve been irresponsible but I’m not SICK!"; and suggests that the Utah buyers "eat the cost" of his bungled wrap.

Casey then bounces out of his slump with a typically ludicrous discourse on leverage:

Lately I’ve been learning about arbitrage and how I can take advantage of it / apply it as an individual investor. For example…. say I borrow 100K at 12% interest and reinvest it at 36%. That’s a sweet 2% monthly spread! So on a 100K I’d be making $2,000/month. Do that with half a million and you’re making $10,000 per month. Enough to retire on.
Ramping up to $500,000 in credit lines is really not that hard. Could be done within a year. Finding high-yield investments is the trickier part, but with the right connections not too hard either. [...]
Man… lots of good stuff out there. Getting too excited.

In full fantasy flight, Casey reflects "the concept of money, leverage and arbitrage really really fascinates me," and revisits his favorite shiny object: "Of course, you can never go wrong with preserving capital in gold and silver (and other commodities). It’s actually a really really really good thing to be doing right about now."

The mania breaks almost as fast as it builds; a petulant Casey admits:

Galina took away my corporate credit card because I broke the promise of no more credit spending (I promised it on Sunday). I put up a fight but then gave in. But in a way I deserved it. Except we didn’t discuss the punishment for breaking the promise. So I felt it wasn’t completely fair. And this is just the beginning of it…

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