F^&k credit, learn to trade and pull down some long coin, by 8am Pacific time, go have the best breakfast money can buy and spend the rest of the day with friends... put a comment on your credit report saying "If I want some f$%king credit I'll buy some"....... Google voice is my telephone company of choice... I can add a forwarding phone at will, I can screen messages via my email account... that's my "business tel number" and the other one is private and should never leak out... Multiple calls from collectors are illegal in California, but they will do it to you.. savvy people are recording everything in detail and then suing these assclowns, the biggest settlement I heard of was $60,000... There are some steps we can take towards freedom, read Square Foot Gardening and start growing high quality food, absolutely drop out of the credit rat race, learn to trade, learn to look out for your own household as a consumer and stop thinking that Socialism is freedom, it's enslavement..
There is an entire generation that is screwed for a very long time over student loans. By entire, I mean 80% are screwed. The fractional reserve + usury system is inherently finite on a mathematical basis, but it hits the wall earlier due to the uneven distribution of wealth/income/debt and the service of the debt. Taxes, fines, fees of all stripes are forms of wealth redistribution. The joke is on people who believe that the government can allocate money better than the private sector. What the government can do as we approach the wall is kick the can down the road marginally longer (stimulus/taxation) as prudent AND ABLE participants elect to save and not spend/consume.
Any usury-based monetary system requires the constant influx of more credit to ensure interest gets paid. Sea shells, tally sticks, gold, oil, whatever. When interest enters the equation, money supply must grow. The problem with fiat money is two-fold: 1) Banks hold a monopoly on credit creation, and therefore, are the sole benefactors of interest charged on risk-free capital. A total scam. Which is why Bankers run the World. 2) That monopoly on risk-free capital incentivizes banks to take HUGE, LEVERAGED portfolios which manifest themselves as debt explosions. The result are bubbles, of one type or another, that destroy real wealth by creating unsustainable asset prices, which ordinary people take on DEBT to buy. When that bubble pops, values disappear, but the debt (and interest on that debt) remains.... A nice way to charge 10$ for a 50 cent loaf of bread, for a couple decades.. The result is huge swaths of private wealth channeled away from the laborers who earn it, into the greasy hands of bankers who created that debt with nothing (which is why they did it...) The real problem is the PRICE OF CAPITAL. How it should be determined? And who should issue it? The answer to both is the Free Market. Legalize competing currencies, fuck the banks, and let the market set interest rates. Rates, under a free-floating system would be much higher (7-10%), bubbles far less common, growth far more stable, and capital allocation MORE PRUDENTLY INVESTED. Unlike the system we have now that practically gives money away to the flat-broke, unemployed, and insolvent who have no chance in hell of paying it back. That type of drunken sailor lending is what creates huge market distortions, compels money to chase assets, which evolve into bubbles. which evolve into financial blackholes that suck-in even legitimately earned wealth where its later destroyed, er, "Redistributed" to our Banker friends, Its a system that was set up by the Bankers, for the Bankers. And yes, there really is a level where private and public debt becomes untenable and a Nation gets crushed under interest payments. Happens in the 3rd world, all the time. Usually 200% debt to GDP. Sounds like a lot, but the FED and Treasury have already channeled north of 6 Trillion to banks. A couple more bubbles (or an extended crash of the current), and we'll easily hit 00%. Then, its' a huge short squeeze for the dollar and Uncle Sam will look to taxpayers to pick up the shortfall. Think the IRS is an attack dog now? It'll look something akin to the end of Rome. With citizens chained to their farms. When the dollar goes, America is done for. Lil' Timmay Geitner and notable banking globalists are calling for the end of the dollar reserve and a new reserve currency. People really don't get the significance of that. Not only is a dollar collapse possible, but OUR GOVERNMENT IS MAKING OVERTURES IT INTENDS TO PUSH IT OFF THE CLIFF. Our private and public spending is financed almost entirely by the belief that the dollars we repay, will be of approximate (or better) value than the dollars we borrow. When Bernacke FORCES the market to reconsider this little fairy tale, which he will (Timmay Geitner says yes), well, thats the End. Or, for the Perma-Bulls, 'a new beginning'. Except with Martial Law. 100% up-room to go in Defense, Security and Surveillance Tech companies ! The next growth industry to bust America out of its rut, perhaps?!??