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Re: A country of money idiots?
Old 03-09-2007, 01:28 PM   #41
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Re: A country of money idiots?

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this is an instant gratification culture. it really does sicken me. people bring it upon themselves. when you think you deserve what you have not earned there are going to be ramifications
Does this include taking on a mortgage to buy a home? Few have earned enough to buy one outright, and they want the instant gratification of having one.

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Re: A country of money idiots?
Old 03-09-2007, 01:35 PM   #42
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Re: A country of money idiots?

no but it does include taking out a mortgage on a luxurious home that if your boss fires you, you can't keep up with the payments, or i mean have enough stashed away for six months to carry you until new job.
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Re: A country of money idiots?
Old 03-09-2007, 04:09 PM   #43
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Re: A country of money idiots?

It does not take any brains to do two things:

1) Spend more money than you make.

2) Make babies.


It take brains to save money for a rainy day and to raise kids to be responsible adults.


Our society is based on doing both. We have a high tolerance for debt and for families with lots of kids despite the lack of need for large families (religious preferences aside).

Schools don't teach personal economic responsibility and most kids don't see real examples of it at home either so they are a product of their environment. The consumer culture dislikes savers and rewards spenders and forgives personal irresponsibility.

Fix that and you will have gone a long way at fixing many other "ills" in this country.
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Re: A country of money idiots?
Old 03-09-2007, 07:35 PM   #44
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Re: A country of money idiots?

the economics of it is just a side issue to the lack of personal responsibility that is a part of our modern age. alcoholism is a disease, fat people have eating disorders, rapists have impulse control problems, etc. call me harsh or mean, i don't care. people need to take responsibility in life.

my father used to say that debtors have mental problems, and he was right. they don't use good judgment or self contol. these are things that a child must develop so that they can not only be a financially responsible adult, but a generally happy and mentally stable one as well.
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Re: A country of money idiots?
Old 03-09-2007, 08:33 PM   #45
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Re: A country of money idiots?

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Originally Posted by Hamlet
I've noticed that I haven't gotten a 0% offer lately that didn't have a balance transfer fee. I've got about 10K on a 0% card (no balance transfer fee), but I haven't gotten a totally free offer to replace it yet (it ends in Nov.).

I may have to pay off my card if they're actually going to charge me something.

I do the same thing with a 0% card. I use it for excess college expenses. My last one was for 15 months and it expires June 1st so I've been reading all the fine print on all the offers before I shred them. I'm holding on to one from Bank of America that has no balance transfer fee and runs for 12 months. But yeah, most of the offers lately have a balance transfer fee.

Sue J.
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Re: A country of money idiots?
Old 03-09-2007, 08:37 PM   #46
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Re: A country of money idiots?

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Originally Posted by newyorklady
my father used to say that debtors have mental problems, and he was right. they don't use good judgment or self contol.
Uhhhh, I think this is overboard. NYL, ever had a mortgage? Student loans? CAr loan? You might have been a "debtor" then.

Like alcohol, firearms, cars, and a marriage license, credit a a good servant but a terrible master.
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Re: A country of money idiots?
Old 03-09-2007, 08:42 PM   #47
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Re: A country of money idiots?

you know what i mean, i am talking about deadbeat debtors not normal people with mortgages, etc.
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Re: A country of money idiots?
Old 03-09-2007, 08:46 PM   #48
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Re: A country of money idiots?

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Originally Posted by newyorklady
you know what i mean, i am talking about deadbeat debtors not normal people with mortgages, etc.
I hear you, and there are plenty of dirtbag borrowers. But if I had lousy credit and my choices were to live in a place I thought was unsuitable for my kids or to take on a hefty subprime mortgage, I know which choice i would make.

Having said that, I will be a lot happier when lenders actually start underwriting mortgages again. Of course, by the time that happens, there will be a lot fewer lenders left in the subprime world.
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Re: A country of money idiots?
Old 03-09-2007, 09:39 PM   #49
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Re: A country of money idiots?

Before yall throw rocks. What makes you think you are so smart ?
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Re: A country of money idiots?
Old 03-09-2007, 09:47 PM   #50
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Re: A country of money idiots?

i don't think it is about intelligence. some of the smartest people get caught up in all of this as well as some of the dumbest. i think it is about realizing that there are always consequences, you don't get a free lunch, pick whatever tired cliche you want.
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Re: A country of money idiots?
Old 03-09-2007, 10:51 PM   #51
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Re: A country of money idiots?

Quote from spideyrdpd:

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What makes you think you are so smart ?
It's not how smart you are, it's knowing where to go to get the answers and this makes all the difference.
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