How Bad Is It???

[wheresmy50]

I'm checking out of this one.

If there was a 5 year war where one person was killed, the mother of that soldier would think it was a costly war. There would be no convincing her otherwise. Some people have it bad now, and in that situation it's hard to see anything positive.

The assertion that those who disagree are either ignorant of the situation or a stranger to financial harship is sadly typical and overused.

We as a country developed a lot of bad habbits economics-wise during the last 15 years. If this downturn stops some of those, we will be stronger for it.

[BigFish]

WM50....your first statement confirms exactly my point......unless things are tough at home, which is the case in I would guess 80% of American homes right now, you would be ignorant to what is truly going on!

[RIJIMMY]

Originally Posted by BigFish

WM50....your first statement confirms exactly my point......unless things are tough at home, which is the case in I would guess 80% of American homes right now, you would be ignorant to what is truly going on!

BF - My wife and I are still employed and not in any financial hardhsip presently. My view of what is going on is based on observation. At no point in our history has the government taken such a role in the economic direction and structure of this country. Never. Very soon, the governement will be funding our banks, our credit our purchases. All the while, this false economy will continue to collapse.
Some go fishing in shorts and a t-shirt, I wear 3 layers, waders and korkers. Better to be prepared and I see a long windy rainy season, with 12 ft swells heading our way

[spence]

Originally Posted by RIJIMMY

Some go fishing in shorts and a t-shirt, I wear 3 layers, waders and korkers. Better to be prepared and I see a long windy rainy season, with 12 ft swells heading our way

Don't forget your boat w/all those fancy electronics

-spence

[BigFish]

RIJimmy...not sure if you misunderstood my last post? My point was that it seems many who have a stable 2 income situation are not seeing the big picture...obviously you are.

[RIJIMMY]

hey Einstein couldnt tie his shoes, we all have our faults

[BigFish]

Hey! If you build a better brownie.....sell it!

[Nebe]

Im a self employed artist.... need I say more?

[striperman36]

I'll be forced to make my own copies of Salties kits.

[justplugit]

Originally Posted by Karl F

the level of debt, is a factor, in your credit rating, and effects the interest rate as well.

Karl nailed it.
You can get a free credit check every year on the web where you are rated by points as to your credit worthiness. They take into account all your timely or untimely payments on debt.

The credit card companies have done everything possible to get younger people
into their grasp. The average credit card debt is something like $15,000-$20,000.

Even when you pay your card in full each month, which can be a good thing as some cards offer 5% on gas, groceries and drugstores, watch the due date as they will change it from time to time and unless you see it and pay it on time they love hitting you with the late fee.

Most important thing anyone who has credit debt is pay it down ASAP, the interest rates are outrageous. Then back to economics 101, don't buy anything unless you can pay for it in cash.

[Striperknight]

Last weekend we collected food donations for the Cub Scouts. Let me say between last year and this year it was a huge difference.
Not many people gave food this year. I was disappointed in my fellow townsfolk.

[striperman36]

I'll be interested to see what happens in Mansfield on Saturday, Last year we prepared holiday meals, with turkeys for over 1500 familes. Filled almost 2/3 of the St Mary's gym floor with baskets of goods to be delivered the following Wednesday.

[Joe]

I'm stealing more stuff than normal.

[FishermanTim]

Originally Posted by justplugit

...
Even when you pay your card in full each month, which can be a good thing as some cards offer 5% on gas, groceries and drugstores, watch the due date as they will change it from time to time and unless you see it and pay it on time they love hitting you with the late fee.

Most important thing anyone who has credit debt is pay it down ASAP, the interest rates are outrageous. Then back to economics 101, don't buy anything unless you can pay for it in cash.

They have a sneaky habit of ALWAYS making the due date on weekends. If you read their "fine print" regarding payment processing, you see that if your payment is received after a certain time of a Friday, they won't process it until Monday.
Note - that time is ususally in the early afternoon!

Also note that paying the balance down will decrease your monthly payment, but the ONLY way to have your rate decreased would be to threaten to close your account.
They will bump up your rate, even if it's their fault, but aren't as quick to drop the rate unless YOU take action.
Credit card companies, as a whole, SUCK!

[Slipknot]

Originally Posted by Karl F

amex wants a bailout...citi bank too.......

fry them.....

citibank and amex can sit on it and rotate
wtf is with this country? we now entertain the thought of bailing out loansharks? wtf

I hope some smarter people get into politics soon and straighten these idiots out
if not, I'm outta here

[striperman36]

Amex is now a bank holding company and eligible for bailout funds

[Slipknot]

Originally Posted by striperman36

Amex is now a bank holding company and eligible for bailout funds

since when? screw them
I guess they know how to work our F'd up system
greed greed and more greed



Larry, I'm not sure how bad it is but I do not have a good feeling about it at all. Construction has dropped off so bad guys are hawking tools, that is the first sign
I just hope remodeling continues. Maybe I am lucky my hard work has paid off keeping me busy working for those who still have money to spend - the rich, I just hope it keeps up. I have been finally making some real money and now the economy goes in the crapper

[BigFish]

Glad things are going good for you Bruce and I hope it continues! Layoff rumors swirling at my wifes place of work.....so we are keeping our fingers crossed here.

[FishermanTim]

ANY Credit Card company that "entertains" the thought of asking for bailout $$ can go straight to hell!
The credit card companies have financially raped the general public for way too long, and if they start crying "Oh,poor me!" to the government, then tough t*tties!

If they are soaking us with high interest rates, and they can't manage their finances, then they surely deserve to go belly up.

And I'll be there to

[fishbones]

Originally Posted by FishermanTim

The credit card companies have financially raped the general public for way too long, and if they start crying "Oh,poor me!" to the government, then tough t*tties!

If they are soaking us with high interest rates, and they can't manage their finances, then they surely deserve to go belly up.

And I'll be there to

I have no sympathy for the credit card companies. They surely don't deserve any bailout, but no one is held at gun point and forced to get credit cards. Anyone who signs up should be aware that there are interest charges and they'll end up paying $12 for the $8 drive through meal that they put on their card. People have to be responsible for their own spending. As others have smartly put it "if you can't afford it, don't buy it." I was told never to use a credit card for things like restaurants, movies, groceries, etc... because you're still paying for it long after it's gone.