[E. Pluribus Unum]

Credit card companies WANT you to miss that one payment so they can jack your rate through the stratosphere.

They don't want you to pay off your balance every month.

CitiBank will eventually transfer you to somebody else's card if you do.

[TheBigB]

Wow, a thread that's NOT about the flu.

[camle]

adults facing adult consequences of making adult decisions. i don't see a problem per se.

responsibilities can be tough, especially for unforeseen events that are unplanned for, but isn't the debtor the one who made the decisions?

[thoughtomator]

On the bright side, I can report that there's some new life to the tech job market, now that H1-Bs sell out by January 2nd. It's not easy at all anymore to get a foreign worker into the US for a tech job if they're not already here.

Where it comes to unskilled labor is where the problem is most severe, and the people on the lower rungs of the ladder are being hit the hardest.

[2banana]

You are a slave to ever rising taxes to pay for gold plated benefits for union government workers and to buy votes in socialist welfare programs.

Don't pay your property taxes, they will take your house.
Don't pay you income taxes, they will throw you in jail and garnish any wages
You are guilty until proven innocent in tax disagreements

The Branch Davidian Siege? Ruby Ridge? That was over a TAX on guns...

[HamiltonJay]

DEBT IS DUMB!! Live on less than you make, or expect your labor to make someone else rich! IT'S BEEN THAT WAY SINCE THE BEGINNING OF MONEY, AND IT WILL BE THAT WAY UNTIL MONEY NO LONGER EXISTS!!!

This isn't rocket science... STOP OVERSPENDING! Live on less than what you make TODAY and BUILD WEALTH.. or don't and make someone else WEALTHY! I don't care what lies you're being told by others, THAT'S THE TRUTH!.

[maestro]

The New Slavery: Millions of Americans Chained By Debt ^

Sure,.....but,...

....these slaves are ......dressed in T.V. Movie.....'designer' clothes!!!

....Burkas uniform of the future slaves.....

....save the oil,.....buy a camel?

:-)

[AdamSelene235]

" I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . " -- Thomas Jefferson -- The Debate Over The Re Charter Of The Bank Bill, (1809)

[trebb]

Amazing read on how the consequences of irresponsible acts equate to slavery. My wife and I live comfortably, manage to save some for retirement. We live the way we can afford to live and that means we don't have a 200 square foot plasma TV and get by with one computer and a mediocre stereo. Our car payments and maintenance of the cars were budgeted, so we don't have $40,000 cars.

The real problem is that the same folks who squeal the loudest about people being eaten alive with credit card debt and bad decisions, are the same folks who tend to make people believe that they deserve nothing but the best and they should have it all. When I was growing up, people understood that if you lived beyond your means, you would end up in the street. Today, it's those who expect payment for goods and services that are getting kicked.

[A Ruckus of Dogs]

Illegal immigrants are doing jobs that Americans always did, and every unemployed American I talk to cannot find a job anywhere.

Seems to me it's Americans hiring all those illegals.

[inkling]

To learn how to get out of debt, visit www.daveramsey.com. We're in his 12-week course right now and it's AWESOME!

[Jack of all Trades]

IMHO the erosion of the standard of living, for the most part, is a myth. When I was a kid we had one TV with rabbit ears, one phone, two old cars that Dad often fixed, etc. etc. etc. They just spent less and saved more.

[IllumiNaughtyByNature]

There are billions of people who want your job...

Live within your means and get all the education you can. Delay gratification, buy the smallest house in the best neighborhood you can afford and plan on a retirement WITHOUT THE HOPE OF SOCIAL SECURITY. Works for me.

[Rodney King]

Well, it is voluntary, so if anything it is the new indentured servitude rather than the new slavery.

[hubbubhubbub]

Buy Au and Ag. They're assets not debt.

[Mase]

"Any loan-shark with a third grade education will tell you "that paper's no good"
----

I'd be happy to rid the author of all the worthless paper he happens to be holding. I don't imagine he really believes all his BS enough to do it though.

However, If he happens to really believe it, he needs to get professional help before he takes a dive. His world is very depressing place.

[hosepipe]

Socialism is slavery by government.. quite simple really.. always was and will be..
Debt is only slavery when you will not declare bankruptcy.. (in the U.S.)

[TexasCajun]

The New Slavery: Millions of Americans Chained By Taxes

[Lazamataz]

I wish I could be as optimistic as this guy.

But it's much bleaker than that.

[No Blue States]

People shouldnt spend more than they make.

That said, The Credit Card offer I got in the mail the other day at 29% should be illegal to even offer, its nothing more than legal thievery.

At the very least it should be front page bold type instead of fine print buried on the back page. (yes, I threw it away)

There should be a reasonable limit to what APR they can legally help people spend their future at.

Yes, I believe in capitalism but also fair controls on greedy parasitic mega credit card companies to protect consumers from (yes, even) themselves.