Comments on: Why Credit Cards Matter So Much

By: justin123

justin123 — Wed, 27 Jan 2010 12:14:33 +0000

This is a wonderful opinion. The things mentioned are unanimous and
needs to be appreciated by everyone…..
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justin

By: Credit and survival « Wildflower

Credit and survival « Wildflower — Sun, 17 Jan 2010 02:00:53 +0000

[...] Everybody should read this article. Sharon Astyk has done a fine job. Almost all of the consumer spending we’ve done in the last few days has been done on credit. In November and December, retailers see more than 40% of their annual sales – and since the average American comes out of the holiday season with more than $800 in credit card debt, it is safe to say that retailers in general are dependent on an annual payback that is then amortized over mos tof the year in the form of personal credit. That is, the consumer spending economy, 70% of our total economic activity, is utterly dependent on consumer credit. And whether that’s a good thing or not, the destruction of consumer credit lines will bring about a shift in consumer spending that makes the present economic woes looks petty. [...]

By: Kent

Kent — Mon, 08 Jun 2009 00:17:45 +0000

Hey, I just started listening to Dave Ramsey. Great insite and useful tips regarding how to become debt free. An earlier comment about credit cards are only as good or bad as the people using them is off the mark. Credit card companies prey on people who are uneducated about money and credit. They misrepresent the truth (lie), they lure in the dumb and then jack up interest rates. People need to get out the scissors. Pay cash, you can save up for an item more quickly than you can pay it off plus 12% interest.

By: Shell

Shell — Thu, 05 Feb 2009 22:26:26 +0000

As I sit here and read all the wonderful notes on credit card debt, totally understanding everything noted. It makes me wonder what one would do if they lost hours in job security, lost their home, lost employment to job closer, opportunities to seek employment was rejected or family member becomes severely ill and must be taken care of.

We have seen increased credit card interests, bills, fuel, food, water, electricity, clothing, car upkeep, taxes and many other items on the agenda that have been increasing for years. Penalties to those whom wish to pay but barely can make the payments.

As far as savings, 401k it is evident what is happening to that as we speak, whom can save in a day where you can lose your job at any time, and the dime you make each week goes to pay your bills or late fees.

Now the citizens whom are struggling to at least pay their bills now are having to use credit for food, fuel, bills, and medical. Some folks don’t want to use the credit card but they have to in order to survive. I believe in the American dream but I don’t believe that we should be abused from every end in what things should cost. What about the senior citizens, how is this effecting them, how are they surviving.

Credit has been known as a bloodline of America, and it is the fraud and the abuse of overpricing and misuse of spending tax monies that has done this to the people.

If the car stops running and you have no extra cash left after paying your bills, you have an emergency credit card in the slot of your wallet, not knowing to many folks and family help is out of the question, what is your plan of action?

Survival, Credit Cards.

Wish I didn’t have to use it but the evidence is clear.

By: Nederland tegen censuur | Maandagmorgen briefing (Week 49)

Nederland tegen censuur | Maandagmorgen briefing (Week 49) — Sat, 13 Dec 2008 13:45:13 +0000

[...] geeft onze “muppet” Balkenende toe dat we richting recessie bewegen. In de VS wordt gesproken van depressie. Het einde van de consumptiemaatschappij. Paul Krugman, winnaar van de nobelprijs voor economie dit [...]

By: aidan

aidan — Thu, 11 Dec 2008 02:27:51 +0000

Good post!

By: warren

warren — Sun, 07 Dec 2008 12:54:36 +0000

The infinite horror is yet to come. The French confiscated all church properties in the 1800’s to finance bonds. Because the fiat money system they used was collapsing. I suspect the United Nations will do the same thing to finance a new world currency. That currency will also collapse because the root causes of this debacle have not been addressed. The French had a massive civil war, and wound up with Napoleon. I think we will see the United Nations become fractured down to the city block, and riots, and roaming gangs of looters will be normal.

“Unless those days were shortened no flesh will live. But on account of the chosen ones those days will be shortened.” Jesus Christ. Mattew 24

By: major

major — Sun, 07 Dec 2008 06:22:44 +0000

I agree that responsibility spreads all around…unfortunately our “beloved” President has made sure that his high roller friends (the primary perpetrators) are being bailed out…before they pull the final rug out from under the average person…in other words, we the people are being betrayed by our “trusted” leadership.

There may be something, after all, to the rumors that Bush is distributing American troops (not to be used domestically) around the Country…in anticipation of what???

You tell me……..

By: Holly

Holly — Sun, 07 Dec 2008 03:28:52 +0000

Rosalie,
I skipped ahead, so don’t know if anyone mentioned this:
Is it too late to build less house, leave a planned addition for later, or leave part of the house unfinished and do the work yourselves as you have time/ funds? I know it’s more complicated when you deal with a bank- you can’t get your certificate of occupancy 2 yrs after you move in like I did. Anything to have less mortgage and not pay people to do work you Can figure out…
Can you pay any contractors on the side to do extra work, terracing or making swales for your garden, putting in extra ventilation in a basement room for an eventual root cellar, or anything else where a little foresight now would make you more self sufficient down the road. Does your bank require any landscaping? Make it all edible and plant as soon as feasible. I think less debt and more food growing is a matter of survival.

By: Joe in JT

Joe in JT — Sun, 07 Dec 2008 02:19:56 +0000

How Easy it is to get thousands of dollars into debt!!

1. My beloved dog (Australian Shepard) developed lymphoma and I had to bring him to the Vets. This cost me $1000. They kept doing repeat blood test to drain me of my money. Visa or Mastercard they asked?

2. I finally HAD to go to a dentist because I had an absessed tooth. The dentist repaired the tooth and then figured he didn’t make enough money so he drilled out the tooth next to it, refilled it and it broke into peices the next day eating a sandwhich. He purposely weakend the tooth knowing full well I would be back shortly in dire pain. He then charged me another $2000 on top of the original $1000, Three grand total on the credit card.

3. Car repairs… tires, engine repair ect.