I saw some idiot on the tube yesterday saying the Republicans are being “irresponsible” by refusing to raise the debt limit. I told my wife we need to be more responsible so I should quit my part time job that I love so much (I really do love it) and we should run up all the debt that we can qualify for. Trying to keep outlays smaller than income is so irresponsible. When was the exact moment when the world went nuts?
“When was the exact moment when the world went nuts?”
Tuesday, November 4, 2008.
That actually may not be far from the truth. Many years ago an employer of mine told me that a banker told him, in confidence, that he would never establish credit if he continued to pay off his debts on time. Told him to apply for a loan whether he needed it or not. Make the payments on time for a few months then stop for a couple of months. Tell the bank that you ran into trouble and make partial payments for a couple of months. Then go back to paying in full and pay it off.
They would look at you as a) someone who would try hard to pay your debts and b) someone they could make money off of. They would then extend you generous credit. My boss said he did and it worked for him. I tried it but blew it. They said I needed a co-signer so I got my mother to co-sign. Of course all the "good will" for taking a loan and paying it off went to her. Doh!