Credir card debt --staggering

I call them like I see them and couldn't care less what a loser like you thinks of me.

 

I am not just talking about me, I’m talking about a lot of people. For the record, I have started a few businesses and have an insurance license. It didn’t really work out. I haven’t quit, I’m 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 – socialism, bad.
Take from the poor and give to the rich – free markets, good.

My philosophy:
1. Stop printing money out of thin air, so inflation doesn’t cause our
cost of living to continually go up.
2. Give incentives to company’s 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 don’t continually have an influx
of new people taking our jobs here and don’t want to learn
English.
4. Slow the rate of student visa’s 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 company’s 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 didn’t 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 70’s 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 didn’t 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.

 

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

 

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.

 

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

 

Exactly... one of our biggest problems in this country is too many people buying too much sh!t they don't need with money they don't have.