What a crock.
I have close to $4,000 in credit card debt - because I went through a tight time. I’m now paying it down, and I sure as heck don’t blame the companies who were nice enough to extend me credit.
Posted on 06/12/2008 1:14:35 PM PDT by 2ndDivisionVet
Well then, I guess we're all fools for not prepaying all our bills, for buying a house using a mortgage, and for taking out student loans to get a degree that will double annual income. Hell, even companies borrow by ordering inventory and asking employees to work while not paying them immediately.
The fact of the matter is that responsible, prudent credit is the lifeblood of the U.S. economy...and believe me, that's not foolish at all.
Obama is right!
Someone should start making the Credit card companies live up to their original offers instead of allowing them to use bait and switch tactics and change the terms and rates once you’ve got a balance.
It's hard to disagree with that part.
Yes, ignorance has a price, it always does. It's not your fault people, your just to dumb to understand. Who knew that you would get a bill at the end of the month.
It’s true this is a political gimmick, but it’s also true that rising costs of fuel, medicine and other necessities has thrown budgets out the window, and this can wreak havok on people just starting out, who haven’t had a chance to build up any savings.
Once you get in a hole financially it is hard to get back out, especially if you want to maintain any semblance of a life (meaning something more than bread alone).
That said, the credit card companies will turn around and sell the debt of defaulters to rapacious collectors for pennies on the dollar, and then they will sue the debtor in justice court with absolutely no way to prove up their case, getting default judgments in 75% of cases, and dismissals in the rest.
Not in a rat world. The only people at fault are eeeeeeeevil corporations.
As opposed to those (a minority) who spend their money on property or investments. Ramsey makes the point that if a person begins at the age of 26 and invests $100.00 per month he will have $1,000,000 at age 65. Certainly a reasonable goal but not for those who drop $200 a month for Latte’s at Starbuck’s every month. Mencken was right. It’s astounding how much the typical Americano spends on crap. No generation in history has ever lived above subsistence levels as this one. I have a friend whose son sends text messages to the tune of over 2,000 a month. I think this money could be put to better use. People need to get a life and quit mortgaging their future to CC debt. Most of this prodigality is a trait of naive youth. This is indisputable. Fully ninety nine percent of advertising is addressed to this prehensile (Mencken’s term) morons.
And don’t forget about Obama wanting the government to pay more of peoples higher education bills. If they get their way they will bankrupt our country.
What a crock.
I have close to $4,000 in credit card debt - because I went through a tight time. I’m now paying it down, and I sure as heck don’t blame the companies who were nice enough to extend me credit.
What a crock.
I have close to $4,000 in credit card debt - because I went through a tight time. I’m now paying it down, and I sure as heck don’t blame the companies who were nice enough to extend me credit.
He is trying to put the idea into the heads of those that are desperate and in debt because of living being their means that he will be their savior in order to get their votes, if they fall for it they are more stupid than I imagined.
BTW I have a good video link here all about Obama, you may want to pass along to those who are “living in the Obama fog” it may open their eyes
This video on Obama was sent to me this morning—a good one to pass around:
http://www.eyeblast.tv/public/video.aspx?RsrcID=2036
“The nine most terrifying words in the English language are “I’m from the government, and I’m here to help.”
Speaking as someone who is currently paying off student loans, I can say that the weight of private education loans may itself contribute to bankrupting the economy.
It’s true I am responsible for making the decision to accept the loan so as to go to post-graduate education, in the hopes of procuring higher-paying work, and it’s also my fault for not being able to obtain that higher-paying work, but rather a job that pays much less than might be hoped for. But accepting all that, it is a real strain to make the minimum payment to Sallie Mae each month and have any left over to pay towards any other purchases, other than costs of room, board, and such. I believe that my situation is not all that uncommon. That is going to have a profoundly negative effect on the economy, with people paying off these loans until well into their 50s.
Furthermore, the very existence of education loans is leading to the rapid rise in the cost of college and graduate studies. It’s a scheme in which the universities benefit, the loan companies benefit, and the borrower finds himself in the proverbial pickle.
And bottom line, Sallie Mae is an evil company. I was dealing with another company that I liked and treated me well, and lo and behold Sallie Mae buys up my loans and now “accidently” assesses all sorts of fees every month (until I call and complain, wasting an hour of time on the phone, of course).
Please forgive the rant.
my girlfriend has a bank of america credit card that started out at 9.99%..they raised it, for some unknown reason to 14.99%..she called them and asked them why (she’s never been late on a payment, has a credit rating over 700 etc. etc.)..when they really couldn’t give her a reason, but refused to back the rate back down, she told them she wanted to close they account. they told her that if she did that, the account would automatically revert to “charge off” status since they couldn’t be sure she’d pay the balance (which she would) AND the interest rate would rise to 32.99%..
needless to say, she simply tore the card up and has only $300 more to pay till it’s paid off at 14.99%..
Nice observation. His whole campaign has mirrored that of Chavez in 1998, when he took over the country. There is not a dime's worth of difference. You could pull quotes from Hugo's campaign that would sound for all the world like Baraq's very own.
Why do Marxists love to blame those who take risk and profit?
I wish Obama would just crawl back to his Rezko-purchased home with his shrill Omaros—esque wife and spend the weekend with Bill Ayers...don;t forget worship on Sunday with the girls and Rev. Wright.
Yup, appeal to the Poor masses who are willing to believe that “The Government can and will and should take care of your every need from birth to death”, and blamo. Socialism. Unfortunately there is NO government on earth that has EVER made that work.
Another member of my family had a card with Wachovia that was part of a portfolio bought by MBNA and then Bank of America. After twenty plus years of on-time payments, never going overlimit, etc., Bank of America lowered his credit limit to $100 below his balance, defaulted him (increased his rate from 8.99% fixed to 22.99% variable), and then restored his credit line.
Stay out of my kitchen, leave my car alone...and stay away from my visa...I don't need YOU as the Village King!!
He's saying the same thing as Hillary...we're all stupid!!
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