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Thread: Unintended consequences

  1. #1
    God/dess Deogol's Avatar
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    Default Unintended consequences

    Something that was happening pre-cc law:

    CC user has late payment.
    CC issues rate hike and fee.
    Other CCs universal default and rate hike fee.
    CC stumbles along trying to make good on burden.
    Credit report rating trashed due to one CC.

    Since the rating is trashed - why pay any of the debts? CR is fucked up already.

    All banks experience higher credit card default rate.

    Lesson: Apparently universal default goes both ways. (But they won't admit it!)

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    God/dess Paris's Avatar
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    Default Re: Unintended consequences

    It is a symptom of a deeper systemic problem: the lack of goods and services outside of the financial sector in our economy. Real money comes from the labor of individuals creating items the people need. Debt doesn't fulfill this need and is the engine that has been driving our economy for way too long.

    We have to pull our heads out and start making stuff that people actually want, like more items like the iPod. Then we need to protect our industries through decent trade agreements. But the world is a complicated and violent place. That isn't likely to happen anytime soon.

    Americans need to get used to being poor. That is the new normal.


    Promote yourself and earn more money! This is a business that is owned by strippers for strippers. Let's make that money!


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    Default Re: Unintended consequences

    Thought this was a book review for Unintended Consequences by John Ross. Ha!

    Fuck credit cards! I have never had one. Debit card works just fine for my needs.

    Americans don't need to learn to be poor, they need to learn to live within their means.

    Frugal should be the new cool word.

  4. #4
    God/dess Deogol's Avatar
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    Default Re: Unintended consequences

    Quote Originally Posted by ArmySGT. View Post
    Thought this was a book review for Unintended Consequences by John Ross. Ha!

    Fuck credit cards! I have never had one. Debit card works just fine for my needs.

    Americans don't need to learn to be poor, they need to learn to live within their means.

    Frugal should be the new cool word.
    All ya got to do is read the news about California for that. People hiding in their houses, gated communities, gangs swarming the streets doing WTF ever they want, ineffective government, people losing everything. The fire will start there.

    Anyhow, back to banksters...

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