Posted on 03/09/2010 11:16:15 PM PST by The Magical Mischief Tour
Let me tell you something about Dale...he's FR's resident curmudgeon who believes that if you are not as rich as he is, if you are not as healthy as he is, if you have never had full employment like he has, if you have had a perfect marriage like he has without any divorces, if you have never had any perfectly healthy children like he has, if you have always had perfect homes, appliances, and automobiles like he has that never need repair, and can pay for everything in cash like he does, then you are pure scum and need to be relegated to either a work house or debtor's prison, or else sell your children into slavery to get by.
That's his attitude.
The card issuers are hammering anyone they can. My wife and I have good credit and have never been late on a payment. Recently we got the word that our rate was fixin to go way up. So I called the out of work rocket scientist and asked them if they want 10% of a balance or 28% of nothing. They didn’t understand. Ok fine. They get their wish.
And they have the money to “donate/bribe” lawmakers into passing laws that look favorable to the borrowers on the surface and toxic once you get into the details.
I remember when you could deduct credit card interest off of your taxes. I believe that really pushed CC’s into the mainstream. Why it made the free to use, “don’t ya know?”.
AS in everything that seems to be bugging us today is a result of incrementalism. And of course this overwhelming need of our elected oficials to “DO SOMETHING”. Why can’t they ever look into repealing old laws that are no longer needed or are proven failures? Yeah, I know rhetorical question there.
I don’t believe this article.
I for one paid off all my credit cards and closed the account, except for one.
Now we are supposed to feel sorry for the credit card companies? No way.
This explains why we never had any small businesses in America until credit cards were invented. Thanks!!! I had always wondered about that.
Credit cards make it more convenient. We could certainly have the lines w/o them but you would need to go to the bank and get a cashier’s check to cover the cost of a supply/piece of equipment.
They are the same lines as has always existed just easier to access. Good or bad, that is how it works. i never said it was right, just how it operates.
It's something else to need a credit line to cover basic monthly expenses such as payroll or keeping inventories stocked.
Back in the Jurassic era (before the 1970's) businesses used to handle those things using the archaic concept of "cash flow".
Sorry if this sounds snarky, but it just seems to me that if a (well established) business doesn't have 45 days cash on hand, its business plan is dubious enough that I would not give it a credit card.....
It's something else to need a credit line to cover basic monthly expenses such as payroll or keeping inventories stocked.
Back in the Jurassic era (before the 1970's) businesses used to handle those things using the archaic concept of "cash flow".
Sorry if this sounds snarky, but it just seems to me that if a (well established) business doesn't have 45 days cash on hand, its business plan is dubious enough that I would not give it a credit card.....
Congratulations. Which government teat are you currently sucking off of?
So then what you're saying is that someone who can pay their bills but then falls on hard times due to onerous tax increases, is still a dirt bag. Correct?
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