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Credir card debt --staggering
- Thread starter NY_HOOD
- Start date
I am not just talking about me, Iâm talking about a lot of people. For the record, I have started a few businesses and have an insurance license. It didnât really work out. I havenât quit, Iâm going to keep trying. But how am I supposed to keep restarting if every time I do it, it gets harder and harder? The jobs we used to rely on to get us through while we go to school or start businesses are drifting away. Just in the past few years the cost of living has gone up significantly. I have to work harder just to stay at the same level. But I guess you like that idea.Quote from Trader666:
You have a huge sense of entitlement... your words reek of it. Just read your own whining about getting ahead as if it's someone else's responsibility to get you ahead.
How about getting off your ass and researching careers that pay well and are a good fit? Then work your way through an affordable state school and/or take out student loans. Or join the military and get them to pay for it. Or start a business. There are lots of ways but if you stay in your current situation you have nobody to blame but yourself.
Sorry to break it to you but in real life they don't give out trophies to everyone just for showing up. Stomping your feet and throwing a fit won't change that.
Your philosophy:
Take from the rich, give to the poor â socialism, bad.
Take from the poor and give to the rich â free markets, good.
My philosophy:
1. Stop printing money out of thin air, so inflation doesnât cause our
cost of living to continually go up.
2. Give incentives to companyâs to stop shipping jobs overseas.
Get rid of the 12,000,000 illegal aliens who take our jobs and
depress the labor market.
3. Slow the immigration rate so we donât continually have an influx
of new people taking our jobs here and donât want to learn
English.
4. Slow the rate of student visaâs who come here simply to study
and then go back to their country. Our schools are heavily tax
payer funded. These people crowd our schools, and then
leave before they join the workforce and pay taxes. This will
bring down the cost of education due to less demand.
5. Encourage companyâs to provide in house training, rather than
always requiring people to have a degree, skills, etc. before
they can apply for a job.
See, the baby boomer generation didnât have to think they were entitled to anything, because the above was already given to them.
My generation is now being told to work twice as hard to achieve the same thing. In the late 70âs my mom worked at a grocery store making $12 an hour. A few years ago in high school I worked at the same store and made $9 an hour. Even afer several years, the most I could have made at any position in the store was probably $12 an hour. The unions had lost control. The pay 30 years later was exactly the same. Except $12 back then is worth probably $40-$50 now. You see why the baby boomer generation didnât need to have an entitlement philosophy?
Like I said, keep going with your thinking. The rich will keep suppressing the poor and the poor will keep voting democrat. So again, the rich will bring about socialism, not the poor.
Quote from Sandybestdog:
I am not just talking about me, Iâm talking about a lot of people. For the record, I have started a few businesses and have an insurance license. It didnât really work out. I havenât quit, Iâm going to keep trying. But how am I supposed to keep restarting if every time I do it, it gets harder and harder? The jobs we used to rely on to get us through while we go to school or start businesses are drifting away. Just in the past few years the cost of living has gone up significantly. I have to work harder just to stay at the same level. But I guess you like that idea.
Your philosophy:
Take from the rich, give to the poor â socialism, bad.
Take from the poor and give to the rich â free markets, good.
My philosophy:
1. Stop printing money out of thin air, so inflation doesnât cause our
cost of living to continually go up.
2. Give incentives to companyâs to stop shipping jobs overseas.
Get rid of the 12,000,000 illegal aliens who take our jobs and
depress the labor market.
3. Slow the immigration rate so we donât continually have an influx
of new people taking our jobs here and donât want to learn
English.
4. Slow the rate of student visaâs who come here simply to study
and then go back to their country. Our schools are heavily tax
payer funded. These people crowd our schools, and then
leave before they join the workforce and pay taxes. This will
bring down the cost of education due to less demand.
5. Encourage companyâs to provide in house training, rather than
always requiring people to have a degree, skills, etc. before
they can apply for a job.
See, the baby boomer generation didnât have to think they were entitled to anything, because the above was already given to them.
My generation is now being told to work twice as hard to achieve the same thing. In the late 70âs my mom worked at a grocery store making $12 an hour. A few years ago in high school I worked at the same store and made $9 an hour. Even afer several years, the most I could have made at any position in the store was probably $12 an hour. The unions had lost control. The pay 30 years later was exactly the same. Except $12 back then is worth probably $40-$50 now. You see why the baby boomer generation didnât need to have an entitlement philosophy?
Like I said, keep going with your thinking. The rich will keep suppressing the poor and the poor will keep voting democrat. So again, the rich will bring about socialism, not the poor.
There seems to be this black and white notion that has crept into american society in the past few decades that if you are rich then you worked your ass off and you deserve everything you have....but if you are not rich then its because you're lazy and don't deserve it. Which seems to create this image that everybody's goal in life should be to be "rich" so you can prove that you're somehow hard working or special. The problem with this thinking other than its flawed is that the voting power is held by the so called "lazy" who are clawing for this "rich" image, and with the massive voting power keep pushing this country towards socialism as you have stated.
I think until people accept the fact that probably 99% of the human population is generic and nothing special (There's only 1 Einstein and probably millions of Joe nobodys) and that a lot of wealth is created through randomness (ie lucky breaks), I'm not sure how this thinking will change.
I'm not going to sit here and say that rich don't deserve it because frankly michael dell created a company and deserved what he got but I do think that a lot of the Dell execs that made money OFF michael dell are nothing special and could have been replaced, but they just happen to be at the right place at the right time.....
Credit card debt good for economy and stock market. We need to encourage more spending and less saving. The stock market boomed between 2002 and 2007 while savings rates plunged.
Quote from Sandybestdog:
Your obviously not getting my point. Why do you people always give the âwork harderâ answer to everything. How is someone starting out now ever able to save enough to put down 20% on a 200 or 300k mortgage? By the time you save 50k, the house will go up another 100k, and then youâll have to save even more.
How is someone who makes $8 an hour ever able to afford anything beyond a 1 bedroom shack and Cup OâNoodles? If they work 40-50 hours a week, are they not working hard? Oh I forgot, theyâre the scum of the earth working low wage jobs. They deserve to live in poverty because theyâre not educated. If you worked 2 jobs just to pay the bills, donât you think you would think youâre âentitledâ to a few luxuries?
Tell the person who racked up the credit cards to pay for outrageous medical expenses that they should work harder. Tell the person paying hundreds a month on health insurance, they should work harder. Tell the student who just graduated with 50 or 100k in student loans to work harder.
The baby boomers who taut this âyou donât work hard enoughâ crap did relatively little to deserve their wealth. They were blessed with good paying jobs before corporations shipped every job to Mexico and the government shipped Mexicanâs to take the rest of our jobs here. They rode the inflation boom since the late 70âs when the Dow was at 500 and a 5,000 square foot home was $50,000. And they will get their social security and pension checks that are paid for by my generation through taxes that I will never benefit from, and inflation that I pay for through higher prices.
So now maybe youâll rethink why people hit up the credit cards. Bring down the cost of living and youâll bring down debt. Bring back good, productive jobs, and youâll bring down debt. Otherwise we will never fix the root of the problem.
And you guys wonder why people voted for Obama. You tell them to work harder, he gave them hope, or at least the illusion of it.
some pretty valid points here.....especially on the baby boomers 70`s till now infaltionary boom.......that is one hell of a ride from people whom like to pat themselves on the back more often than not.
Lots of points to address but I'll stick to these for now.
Free markets are not about taking from the poor and giving to the rich and that's not my philosophy; it a bunch of crap you wrote that smacks of a victim's mentality, just like your comment "the rich will keep suppressing the poor."
Wake up and realize that you're responsible for your own destiny. Are we in bad times? Yes. Can it be difficult to succeed? Yes. Do some people have stuff handed to them? Yes. But have you noticed that some people seem to always come out ahead?
You speak almost with contempt about hard work. Well it's more than hard work, it's also about working smart but too many of your generation have an unrealistic sense of entitlement and I've actually seen some who expect to start at the top and then throw fits when they don't get their trophy for just showing up.
Here's a quote for you... Edison came up with it a long time ago and it's timeless. Heed it or not, your future is up to you, not Obama or Nancy Pelosi.
"Opportunity is missed by most people because it is dressed in overalls and looks like work. " -- Thomas A. Edison
Free markets are not about taking from the poor and giving to the rich and that's not my philosophy; it a bunch of crap you wrote that smacks of a victim's mentality, just like your comment "the rich will keep suppressing the poor."
Wake up and realize that you're responsible for your own destiny. Are we in bad times? Yes. Can it be difficult to succeed? Yes. Do some people have stuff handed to them? Yes. But have you noticed that some people seem to always come out ahead?
You speak almost with contempt about hard work. Well it's more than hard work, it's also about working smart but too many of your generation have an unrealistic sense of entitlement and I've actually seen some who expect to start at the top and then throw fits when they don't get their trophy for just showing up.
Here's a quote for you... Edison came up with it a long time ago and it's timeless. Heed it or not, your future is up to you, not Obama or Nancy Pelosi.
"Opportunity is missed by most people because it is dressed in overalls and looks like work. " -- Thomas A. Edison
Quote from Sandybestdog:
Your philosophy:
Take from the poor and give to the rich â free markets, good.
Like I said, keep going with your thinking. The rich will keep suppressing the poor and the poor will keep voting democrat. So again, the rich will bring about socialism, not the poor.
Quote from huh:
Exactly, you've nailed the game just right. If you have good credit then banks are fighting each other to get a piece of you right now. And that CC debt in the right hands is a nice income stream and in the wrong hands its a ticking time bomb.
Hey guns don't kill people, people kill people WITH guns. Just like credit cards don't bankrupt people, people bankrupt themselves WITH credit cards. What can I say, I get a little smile on my face every month when I pay my CC company their paltry monthly interest from my investment account which generates more return in a month than the entire years worth of interest I'm going to pay the CC company.
Within 2-3 years, you will have debt collectors after you. Mark my words. Every single person that I know who has played this game with the same story and logic ended up with creditors after them and filing BK (if they are smart)
Your fixed rate can change at any moment. CCs know when you're down and are forced to carry debt without being able to pay it off at a moment's notice. Your time will come.
If you have the cash, pay off the debt. You won't, probably because you are just deluding yourself you even have the available cash. Regardless, few ever listen to the advice, I know I did not back in the day.
Quote from hughb:
An exception of course would be the deadbeat mentioned in this thread that fled to India to avoid paying back his debts. he knew he wasn't going to pay it back at the time he borrowed it. Debtors prison is a perfect place for him.
Disagree.
It's the game. The creditors play a game so the debtors play the game as well, if they are smart.
CCs are lending soft money. They are creating it out of thin air via the Federal Reserve system. The second you borrow, you lose, via inflation, while they benefit. The whole system is rigged, long devoid of any ethics & responsibility. Need proof? Just check the TARP bailout.
Sticking by ethics, morals & responsibility makes you a sucker in that system.
In a hard money system, you would never see this situation happen.
i hate debt. especially consumer debt to the core. if someone needs to borrow to get an education, thats fine.
but when i see people who make decent money go overboard and get cars and "stuff" for which they will slave for the next decade, i can't even feel sorry.
but it's not their fault, its the way you are brought up. you have to have responsible parents to teach you values.
but why the hell would you buy a car and become a slave for the next 5 years. why not save it and do something more meaningful with it. or wait till you can pay cash.
in college even i used to think about getting a job and buying a car with least payments. but later on in college, i just realized consumer debt is evil. unless you have 100% job security, it would be foolish to have debt and make payments every month, month after month after month. just use cash, if you don't have it, save it.
sorry for this rant, but ihad to get it out of my system. consumer debt is evil. but i guess people want to "live". damn it, live on cash, i have no problem with that, spend every penny if ur just desperate to spend, but don't spend money you dont have.
sorry for the rant
but when i see people who make decent money go overboard and get cars and "stuff" for which they will slave for the next decade, i can't even feel sorry.
but it's not their fault, its the way you are brought up. you have to have responsible parents to teach you values.
but why the hell would you buy a car and become a slave for the next 5 years. why not save it and do something more meaningful with it. or wait till you can pay cash.
in college even i used to think about getting a job and buying a car with least payments. but later on in college, i just realized consumer debt is evil. unless you have 100% job security, it would be foolish to have debt and make payments every month, month after month after month. just use cash, if you don't have it, save it.
sorry for this rant, but ihad to get it out of my system. consumer debt is evil. but i guess people want to "live". damn it, live on cash, i have no problem with that, spend every penny if ur just desperate to spend, but don't spend money you dont have.
sorry for the rant