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Shoppers are in debt but still charge more crap.

Discussion in 'The Bar' started by Mutt Sucks, Nov 23, 2012.

  1. Mutt Sucks

    Mutt Sucks New Member Shot Dead

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    Downfall of USA.
     
  2. Sponsor

    Sponsor

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  3. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP

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    Debt is good; debt is good.
     
  4. FlaFlaFlunkie

    FlaFlaFlunkie Fabulous!

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    I fell into that trap years ago. Now I never charge anything that can't be paid off at the end of the month.

    But yeah, what's the average American family credit card debt? $8,000? :facepalm:
     
  5. HeinousMark

    HeinousMark Creepy-Ass Cracka VIP

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    Debt and overspending is as American as GW Bush! :salute:
     
  6. beatlejaws

    beatlejaws nowhere poster VIP

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    exactly
     
  7. Ridic Too2

    Ridic Too2 New Member Shot Dead

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    Americans creating more debt. Just following the lead of the current president.
     
  8. beatlejaws

    beatlejaws nowhere poster VIP

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    ooh. so topical.
     
  9. FtM

    FtM Starless & Bible Black Gold

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    The people who live beyond their means make it difficult for people like me who only spend what they have/make. Fucking thing sucks. :(
     
  10. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP

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    I need to liquidate some stocks before the cap gains tax hike hits next year, so everybody rack up that credit card debt so the company's stock closes higher today.
     
  11. Mutt Sucks

    Mutt Sucks New Member Shot Dead

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    Credit Cards are a cancer.
     
  12. FtM

    FtM Starless & Bible Black Gold

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    This.
     
  13. FlaFlaFlunkie

    FlaFlaFlunkie Fabulous!

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    Yeah. Irresponsible consumer credit card purchases are Obama's fault. It never existed before this administration.

    I hope you were kidding.
     
  14. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP

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    fixed
     
  15. gwartney

    gwartney Naturally Autodidactic Gold

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    Do you think Mutt has credit card debt? Is that why you don't like him?
     
  16. FlaFlaFlunkie

    FlaFlaFlunkie Fabulous!

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    I have friends who live in Europe and they're confounded by how Americans use credit cards.

    I usually explain to them that it wasn't always that way. In the 70s, we called them charge cards and most people who got them (who were granted them), liked them because now they didn't have to write checks. They had the money at home but didn't want to carry cash or write checks.

    Then, some time in the 80s, the mentality switched to: "Oh. My card has a $10,000 limit? That means I have $10,000?" :facepalm:
     
  17. FtM

    FtM Starless & Bible Black Gold

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    'splain, ese.
     
  18. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP

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    no. he's just a slime mold.
     
  19. FlaFlaFlunkie

    FlaFlaFlunkie Fabulous!

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    There's nothing wrong with taking on debt if you have a decent interest rate and can pay it off in a reasonable period of time and if the purchase is necessary or unafforadable, like say a home or a car.

    But putting yourself in debt to pay for Christmas gifts that cannot be paid off by January is utterly ridiculous.
     
  20. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP

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    without credit, the country wouldn't exist. without credit cards you wouldn't be able to buy any foods not locally in season. our entire society works (regardless of how poorly our administrations try to cripple it) specifically because the concept of credit, credit cards, and other credit instruments exist.

    credit isn't a bad thing, but like all tools you have the responsibility to use it wisely. people refuse to learn how to use credit responsibly, and people are too willing to trust and accept everything companies tell them without question. many people want to be babied, and then complain when they get taken advantage of.

    credit cards aren't bad: you don't blame the hammer when you hit your thumb.
     
  21. FlaFlaFlunkie

    FlaFlaFlunkie Fabulous!

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    I agree with you, but during the 1990s, there was a rash of credit card companies on college campuses and they weren't always honest when they were soliciting customers. And yes, it's on the consumer to do their homework, but the predatory lending really started with shit like that.

    College students with no fucking income should never have been given a credit card.

    Also, the balance transfer shell game. Yeah, you can transfer a balance from one card to another with a lower interest rate (sometimes 0%), but there was a transaction charge that was between $75 and a percentage of the transfer, but that shit was buried in the fine print.

    They're fucking sharks.

    Now if you miss one payment or if you're late, they JACK THROUGH THE ROOF your interest rate. I don't carry balances, but the interest rate they're jacking people's cards up to is what we used to call loan-sharking rates (over 25%).

    The cc industry is run by fucking thieves.
     

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