Ahh - good to see this thread pop back up after a year. It was interesting to see the discussion on ethics among traders - who I feel are usually more ethical than the average person. I never did post before so but here are my 2 cents.
I consider myself pretty ethical - try to be vegetarian, wouldn't steal - in fact I even consider wealth redistribution to be theft and support the right of the filthy rich to keep their money (unlike almost everyone else who seems to think government theft is OK).
As for running up credit cards though, here is my take. The system is set up such that banks are basically parasitizing society by monopolizing the issuance of credit. If you don't understand the scam, research Austrian economics a bit. On top of the fundamental scam, banks also get taxpayer bailouts to backstop any losses from risky loans.
Now this scam will continue until the public wakes up to it one day in the form of high inflation. Nothing you or I do can stop the inevitable. Banks will push this system as far as they can until it breaks the currency.
Think you are doing "society" a favor by not defaulting on debt? Come on, just by taking the debt you have already shifted the burden of potential default onto society. You might as well say that anyone who takes bank credit is stealing (and I think you could make that argument).
But nonetheless, this is the system that the public has allowed to exist, and the sheeple will not wake up until the bailouts and inflation reach a certain level.
So does it make any difference if an idiot with an overmaxed mortgage defaults or if a "loser" intentionally defaults on credit cards? Not as far as the market is concerned.
I understand there is a lot of anger out there - but face it angry people, those "losers" got away with it and that is the real reason you are angry.
When a system ALLOWS theft, you are an idiot to be angry at the thief and not angry at the SYSTEM.
Return to sound currency or at least take away the bank's monopoly on issuance of currency and ability to get taxpayer bailiouts. If you do that, then this "theft" by "losers" will not be possible. But no... you angry folks are still a bit brainwashed into thinking bank credit is somehow holding up the economy. So keep believing what you want and bend over for what's coming next from the banksters - while the "losers" keep enjoying their free money.
I consider myself pretty ethical - try to be vegetarian, wouldn't steal - in fact I even consider wealth redistribution to be theft and support the right of the filthy rich to keep their money (unlike almost everyone else who seems to think government theft is OK).
As for running up credit cards though, here is my take. The system is set up such that banks are basically parasitizing society by monopolizing the issuance of credit. If you don't understand the scam, research Austrian economics a bit. On top of the fundamental scam, banks also get taxpayer bailouts to backstop any losses from risky loans.
Now this scam will continue until the public wakes up to it one day in the form of high inflation. Nothing you or I do can stop the inevitable. Banks will push this system as far as they can until it breaks the currency.
Think you are doing "society" a favor by not defaulting on debt? Come on, just by taking the debt you have already shifted the burden of potential default onto society. You might as well say that anyone who takes bank credit is stealing (and I think you could make that argument).
But nonetheless, this is the system that the public has allowed to exist, and the sheeple will not wake up until the bailouts and inflation reach a certain level.
So does it make any difference if an idiot with an overmaxed mortgage defaults or if a "loser" intentionally defaults on credit cards? Not as far as the market is concerned.
I understand there is a lot of anger out there - but face it angry people, those "losers" got away with it and that is the real reason you are angry.
When a system ALLOWS theft, you are an idiot to be angry at the thief and not angry at the SYSTEM.
Return to sound currency or at least take away the bank's monopoly on issuance of currency and ability to get taxpayer bailiouts. If you do that, then this "theft" by "losers" will not be possible. But no... you angry folks are still a bit brainwashed into thinking bank credit is somehow holding up the economy. So keep believing what you want and bend over for what's coming next from the banksters - while the "losers" keep enjoying their free money.
