Steroids and HGH are the great equalizer for athletes and they allow marginal athletes to become professionals, but at what cost? Seems an odd topic for a financial blog isn’t it, but indulge me on this one. Given what is transpiring in Major League Baseball it is relatively topical in terms of current events.
Over the years we have seen some athletes admit to using performance enhancing drugs, starting in the early 70’s and even today I am confident there are PEDs (Performance Enhancing Drugs) being used (that are effectively undetectable (for now)). There are many stories of the athletes from the 70’s in the Eastern Block that have had serious health issues thanks to their use of steroids. A classic case of short-term gain leading to long-term pain.
Currently we are seeing more than a dozen MLB players who are being suspended for using PEDs (although strangely they didn’t even test positive), and there are whispers in other sports as well, so it seems there are many athletes who are looking for the edge to get ahead.
The same way steroids allow a good athlete become a great one, debt can allow someone who has meager income to afford things that can end up being outside of their means. Debt and Credit are financial tools (much like PEDs, growth hormones and anabolic steroids are simple tools as well), which if used in an adult manner (or not at all) can help folks financial well-being, however, the way that Credit and Debt are being touted these days, it seems they are way too similar to Steroids in terms of abuse (and financial life side effects as well).
One point to be remembered is that the abuse of Steroids and HGH are illegal in most countries, Credit and Debt are legal (if not completely condoned).