Maxed Out Movie...

[ChemEng]

Has anyone seen this film? I just finished watching the film and its a very powerful movie that talks about the dangers of credit (credit cards in particular) and its impact on our country. Obviously these boards arent the target audience for the film, but if this is a national issue then it may hit closer to home to those who are more fiscally responsible.

Thoughts? comments?

Heres the description from Netflix:

"Investigating both the personal and the national debt owed by Americans, this thought-provoking documentary explores the staggering financial burden we live with every day and exposes how the contemporary financial industry is set up in ways that can harm unwitting customers. With both sobering facts and black humor, Maxed Out unveils the consequences of our debt addiction, including its contribution to the vanishing of the American middle class."

IMDB link: Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders (2006)
Netflix link: Netflix Online Movie Rentals - Rent DVDs, Classic Films to DVD New Releases

 

[maddythebeagle]

http://www.early-retirement.org/forums/f28/amusing-video-lbymers-other-side-30276.html

 

[ChemEng]

Well I guess that explains why no threads dropped when I did a title search.

Its funny that I got jerked around abit for starting the paying off mortgage early thread for not searching. This time I searched (again!) but missed the discussion because it was listed as Amusing Video. Like it was a cat video on YouTube or something.

Is there a code somewhere that translates Maxed Out into Amusing Video? Or perhaps some general recommendations for searching these forums that would prevent double tapping on already active topics?

Regardless, thanks for the heads up maddy.

 

[MasterBlaster]

I watched maybe 20 minutes of the movie on the link above.

LBYMs along with saving and investing gives you great options as your nestegg accrues, going into debt takes away options. Is that any surprise to anyone ?

I have no dought that those people are going through living-hell. However I have to ask... What were they thinking as they accumulated the debt ? Didn't they think that they would have to pay it back ? With interest and fees.

 

[SecondCor521]

Chemeng,

This board has been around long enough though that some of the more prolific posters are getting bored rehashing the old topics, particularly those that have adherents on both sides of the debate. Paying off the mortgage and when to take Social Security are the two I can think of off the top of my head.

No worries, keep posting and starting new threads.

As far as Maxed Out goes, I'm reading the book that is apparently a companion to the movie. I don't think it is particularly well written on many levels, but I'm halfway through it so I'll probably finish it anyway.

2Cor521

 

[eridanus]

The movie is fair, laying some blame on the consumer and some on the banks. It's bookended by the Vegas real estate agent.

Beginning: People want elevators, two laundry rooms, home theaters, etc.
End: They wanted a gated community, but a clicker wouldn't do. They wanted a guard!

 

[maddythebeagle]

Well I guess that explains why no threads dropped when I did a title search.

Its funny that I got jerked around abit for starting the paying off mortgage early thread for not searching. This time I searched (again!) but missed the discussion because it was listed as Amusing Video. Like it was a cat video on YouTube or something.

The new search function isnt very good in the new software and I only can find things that I have read recently by back tracking on the pages....By doing that, you certainly will hit at least 1-2 mortgage discussions....

 

[money248]

My wife and I watched it two weeks ago. We felt really bad for the people but felt a little more justified in AOR strategies. Credit card companies are pretty ruthless.

 

[ChemEng]

However I have to ask... What were they thinking as they accumulated the debt ? Didn't they think that they would have to pay it back ? With interest and fees.

I would imagine that its easy to be mesmerized by the shiny new trinket or meal in your belly than it is to deal with those fancy, schmancy numbers on some account somewhere else. In fact, Im positive of that. Ive never been in situations portrayed by the movie, but I think we all can relate to buying something today in spite of the long term cost tomorrow.

I do tend to agree that the card holders should be responsible for their obligations. But how aggressively cards are marketed in school is insane! The movie doesnt come close to describing how often you see credit cards promoted on campus. In front of the dorms. In the dorms. At the student union. In the student union. On the commons area. At the same time even.

In a society where (sadly) our high school graduates cant find the US on a world map, its no surprise they can get a credit card and them use it irresponsibly.