[romanP]

Two more douchebags added to my foes list. Done and done.

[PluggyRug]

romanP romanP:

Two more douchebags added to my foes list. Done and done.

Foe ....my my the legendary self imnportance rears it's ugly head once again.

[Pseudonym]

Can I get a medal for that?

[commanderkai]

romanP romanP:

commanderkai commanderkai:

I'm kinda interesting in the whole Rush calling a group of people inferior, never heard this one

I'm sure he probably has at some point in his broadcasting career, but it was PluggyRug that said it in this thread, not Rush Limbaugh.

Mmm...so you believe Limbaugh said something like this, without any proof behind it...very interesting.

[CanadianJeff]

You know a lot of people think I'm nuts when I say this but the CRA isn't he only problem here. The whole system of credit is pretty busted and isn't set up at all to help anyone but the big wigs. Truth be told the solution isn't even to make more money or redistribute the money but get everyone smarter in how they are spending the money.

The only thing you should ever really need credit for at all if your smart is your mortgage and utilities. But you can never get credit for any of those things unless you have a credit card. you basically HAVE to use credit on a contract that charges you high interest and pushes you to spend spend spend instead of being able to build credit by simply having a job for a long time.

The system of credit by numbers simply pushes people to become irresponsible spenders by forcing most people to use high interest credit to get credit. We have already started to see a lot of business move towards the line of "your credit if your job" but moreso I think the point is very simple.

People need to be educated on debt and money management well before they ever get a job. What's really caused the economy to crash is irresponsibility on our part of using credit for everything and never being able to pay it back.

[romanP]

CanadianJeff CanadianJeff:

You know a lot of people think I'm nuts when I say this but the CRA isn't he only problem here. The whole system of credit is pretty busted and isn't set up at all to help anyone but the big wigs. Truth be told the solution isn't even to make more money or redistribute the money but get everyone smarter in how they are spending the money.

The CRA isn't the problem and never was. Deregulated banks are the problem, and politicians are encouraging the allowance of more of them to solve the problem.

$1:

The only thing you should ever really need credit for at all if your smart is your mortgage and utilities. But you can never get credit for any of those things unless you have a credit card. you basically HAVE to use credit on a contract that charges you high interest and pushes you to spend spend spend instead of being able to build credit by simply having a job for a long time.

Well, first of all, you shouldn't buy a house with a credit card. You'll get a really bad deal. Nineteen percent interest on a house will definitely score you some really bad debt. I hope I'm just telling you something you already know.

Second, if you use a credit card intelligently, you should know that you should never spend what you don't have or can't pay down quickly. If you can't afford to pay for something now, you probably won't be able to pay for it later either.

$1:

People need to be educated on debt and money management well before they ever get a job. What's really caused the economy to crash is irresponsibility on our part of using credit for everything and never being able to pay it back.

I think people just need to stop being encouraged to live beyond their means and buy a lot of things they don't need. If you have bad credit, you should not receive approval to buy a car, for instance. If there is one true thing I have heard Barack Obama say, it is that things are not free, and people must learn to pay for what they own.

[romanP]

commanderkai commanderkai:

romanP romanP:

commanderkai commanderkai:

I'm kinda interesting in the whole Rush calling a group of people inferior, never heard this one

I'm sure he probably has at some point in his broadcasting career, but it was PluggyRug that said it in this thread, not Rush Limbaugh.

Mmm...so you believe Limbaugh said something like this, without any proof behind it...very interesting.

I don't believe anything, and I never claimed Rush Limbaugh called a whole group of people inferior, although I wouldn't put it past him at all. PluggyRug, on the other hand, said that liberals are genetically inferior. Try reading the thread, if that is something you are capable of doing.

[CanadianJeff]

romanP romanP:

The CRA isn't the problem and never was. Deregulated banks are the problem, and politicians are encouraging the allowance of more of them to solve the problem.

And it's been firmly proven despite your ignorance that it is the forcing of banks to give out bad loans that has caused all of this. Banks are not stupid they don't normally give out the kind of loans that people are now forfeiting on unless they are forced.

$1:

Well, first of all, you shouldn't buy a house with a credit card. You'll get a really bad deal. Nineteen percent interest on a house will definitely score you some really bad debt. I hope I'm just telling you something you already know.

I get the impression you didn't even read the second half of what I typed. I'm talking about having to build up credit to get a mortgage and a credit score built up.

$1:

Second, if you use a credit card intelligently, you should know that you should never spend what you don't have or can't pay down quickly. If you can't afford to pay for something now, you probably won't be able to pay for it later either.

And I can promise you that 90% of people come to the realization after they have fudged up badly. Most people get their first credit card before they are 20 and people are not the wisest at that age. Your basically handing the ability to spend a few thousand dollars to someone who doesn't have much wisdom in the world yet. It's not a good idea. That's why it's a problem. http://mwhodges.home.att.net/nat-debt/debt-nat.htm

CanadianJeff CanadianJeff:

People need to be educated on debt and money management well before they ever get a job. What's really caused the economy to crash is irresponsibility on our part of using credit for everything and never being able to pay it back.

$1:

I think people just need to stop being encouraged to live beyond their means and buy a lot of things they don't need.

So we don't disagree. I just think it's a horrible idea to have to use credit and credit cards when your young and stupid to get credit for when your older. The home you can put on a mortgage should simply depend on your job and how much you make. You shouldn't be able to get a mortgage unless you have been at your job for 4 years or more.

[sandorski]

CanadianJeff CanadianJeff:

romanP romanP:

The CRA isn't the problem and never was. Deregulated banks are the problem, and politicians are encouraging the allowance of more of them to solve the problem.

And it's been firmly proven despite your ignorance that it is the forcing of banks to give out bad loans that has caused all of this. Banks are not stupid they don't normally give out the kind of loans that people are now forfeiting on unless they are forced.

$1:

Well, first of all, you shouldn't buy a house with a credit card. You'll get a really bad deal. Nineteen percent interest on a house will definitely score you some really bad debt. I hope I'm just telling you something you already know.

I get the impression you didn't even read the second half of what I typed. I'm talking about having to build up credit to get a mortgage and a credit score built up.

$1:

Second, if you use a credit card intelligently, you should know that you should never spend what you don't have or can't pay down quickly. If you can't afford to pay for something now, you probably won't be able to pay for it later either.

And I can promise you that 90% of people come to the realization after they have fudged up badly. Most people get their first credit card before they are 20 and people are not the wisest at that age. Your basically handing the ability to spend a few thousand dollars to someone who doesn't have much wisdom in the world yet. It's not a good idea. That's why it's a problem. http://mwhodges.home.att.net/nat-debt/debt-nat.htm

CanadianJeff CanadianJeff:

People need to be educated on debt and money management well before they ever get a job. What's really caused the economy to crash is irresponsibility on our part of using credit for everything and never being able to pay it back.

$1:

I think people just need to stop being encouraged to live beyond their means and buy a lot of things they don't need.

So we don't disagree. I just think it's a horrible idea to have to use credit and credit cards when your young and stupid to get credit for when your older. The home you can put on a mortgage should simply depend on your job and how much you make. You shouldn't be able to get a mortgage unless you have been at your job for 4 years or more.

Fuck no, still wrong. Banks were not "forced".

[Proculation]

When a law tells you you have to lend XX% of your loans to a certain part of the population, how do you call that ? Deregulation I guess ?

[romanP]

CanadianJeff CanadianJeff:

romanP romanP:

The CRA isn't the problem and never was. Deregulated banks are the problem, and politicians are encouraging the allowance of more of them to solve the problem.

And it's been firmly proven despite your ignorance that it is the forcing of banks to give out bad loans that has caused all of this.

It has? Show me this proof. What I've read so far shows me the exact opposite, that the CRA did what it was supposed to do, and made it costly for banks to give out high risk loans.

$1:

Banks are not stupid they don't normally give out the kind of loans that people are now forfeiting on unless they are forced.

I beg to differ. All kinds of financial institutions these days are ready to give out loans to people with bad credit or no assets to repay a loan. They can't seem to get enough of bad debt.

$1:

$1:

Second, if you use a credit card intelligently, you should know that you should never spend what you don't have or can't pay down quickly. If you can't afford to pay for something now, you probably won't be able to pay for it later either.

And I can promise you that 90% of people come to the realization after they have fudged up badly. Most people get their first credit card before they are 20 and people are not the wisest at that age. Your basically handing the ability to spend a few thousand dollars to someone who doesn't have much wisdom in the world yet. It's not a good idea. That's why it's a problem. http://mwhodges.home.att.net/nat-debt/debt-nat.htm

Maybe so, but I see a lot of stories about middle aged couples who are equally irresponsible with their money because people are encouraged to consume without thinking. Retail therapy has become a very popular sport in modern times, and a lot of people make the mistake of seeing nothing wrong with that.

The credit card companies are also willing to give out credit cards to anyone and extend debt to people who are already in way over their head, regardless of age. Case in point, my father, who is just passing his mid-50's, has a considerable amount of credit card debt, because he just kept taking out credit cards in order to avoid having to socialise with other people to network his business and to avoid having to expand his skillset.

$1:

$1:

CanadianJeff CanadianJeff:

People need to be educated on debt and money management well before they ever get a job. What's really caused the economy to crash is irresponsibility on our part of using credit for everything and never being able to pay it back.

I think people just need to stop being encouraged to live beyond their means and buy a lot of things they don't need.

So we don't disagree. I just think it's a horrible idea to have to use credit and credit cards when your young and stupid to get credit for when your older. The home you can put on a mortgage should simply depend on your job and how much you make. You shouldn't be able to get a mortgage unless you have been at your job for 4 years or more.

I think it's more likely that the credit card companies are the devil, not the concept of credit in itself. They take no responsibility in educating anyone on how to use a credit card, because they make more money that way. They don't make much money from someone who doesn't pay interest because they always pay off their credit card, so they have to take advantage of people who don't know better.

You don't have to use a credit card to build credit, though. There are better ways of developing credit. I imagine most bankers will be more than willing to help figure out healthy ways to make taking out a loan profitable rather than a liability. It's in their best interest. [/pun]

Being at your job for four years or more doesn't necessarily equate to anything. If someone works at a grocery store at minimum wage for four years and never receives a raise, do you think a bank should allow this person to go into debt based on that criteria? What about a person who has built a strong, successful business out of their own pocket in less than four years?

[CanadianJeff]

Yes I do think the bank should allow that person to go into debt. But likely not for more then a 50,000 dollar home at most. If you don't have the income for a 100,000 or 300,000 dollar home then you are not going to be allowed to get the mortgage for it. That simple.

[romanP]

I didn't just ask whether the bank should allow that person to go into debt. I asked whether they should be allowed to go into debt based on the criteria that they've worked at a minimum wage job for four years without a raise. You don't know what previously acquired assets or savings this person might have.