A record 107 million Americans have car loans?!!

auto loans is not a concern yet. I think our next bubble will be credit card or student loan debt. Too many people are defaulting. Personally one of the saddest sights for me is a person paying minimum payment every month when their balance is so high that almost all of it gets eaten by interest.

Personally I think we should remove the social stigma on bankrupcy. It is a law and it should be used. Poor peoplehave to see that you wont be condemend by half the population forever if you take a bankrupcy at some point in your life like Trump did. At some point bankrupcy and getting out of the vicious cycle of paying minimum payment every month and then getting more credit card debt with other cards has to end.
 
tsuke said:
auto loans is not a concern yet. I think our next bubble will be credit card or student loan debt. Too many people are defaulting. Personally one of the saddest sights for me is a person paying minimum payment every month when their balance is so high that almost all of it gets eaten by interest.

Personally I think we should remove the social stigma on bankrupcy. It is a law and it should be used. Poor peoplehave to see that you wont be condemend by half the population forever if you take a bankrupcy at some point in your life like Trump did. At some point bankrupcy and getting out of the vicious cycle of paying minimum payment every month and then getting more credit card debt with other cards has to end.
Click to expand...

Personally, one of the saddest sights is someone that made choices that put them in that situation expecting the rest of us to feel sorry for them and, to some point, be responsible for those choices.
 
CFM said:
Personally, one of the saddest sights is someone that made choices that put them in that situation expecting the rest of us to feel sorry for them and, to some point, be responsible for those choices.
Click to expand...

but going bankrupt is part of the contract. When credit card companies loan you money they charge you interest. One of the factors of that is the likelyhood that you will not be able to pay back.

I dont feel sorry for them because they are having a hard time. I feel sorry for them because we already have a legal way to get out of it, that the bank has already factored in, and they dont take it. Usually because they are too ashamed or afraid too.
 
tsuke said:
but going bankrupt is part of the contract. When credit card companies loan you money they charge you interest. One of the factors of that is the likelyhood that you will not be able to pay back.

I dont feel sorry for them because they are having a hard time. I feel sorry for them because we already have a legal way to get out of it, that the bank has already factored in, and they dont take it. Usually because they are too ashamed or afraid too.
Click to expand...

"When credit card companies loan you money they charge you interest." That's not 100% accurate.

The problem with bankruptcy is that when people do it, others that aren't as irresponsible as they are by not paying back loan are affected. How many young people, when they buy their first home, have to pay PMI because others defaulted on their loans. Those that have no problem being responsible and doing what they agree to do have to do something that costs them more because of what some irresponsible person didn't do.

They should be ashamed to do it. It shows irresponsibility on the part of the person doing it by refusing to pay back what they said they'd pack back.
 
CFM said:
"When credit card companies loan you money they charge you interest." That's not 100% accurate.

The problem with bankruptcy is that when people do it, others that aren't as irresponsible as they are by not paying back loan are affected. How many young people, when they buy their first home, have to pay PMI because others defaulted on their loans. Those that have no problem being responsible and doing what they agree to do have to do something that costs them more because of what some irresponsible person didn't do.

They should be ashamed to do it. It shows irresponsibility on the part of the person doing it by refusing to pay back what they said they'd pack back.
Click to expand...

again credit card companies factor that in. It is factored into the amount of interest they charge you. If you are a higher risk then your interest is higher. Credit card companies already make money every time you use the card on the merchants end (they get a portion every swipe) and they make money of your interest. When you enter into a contract with the credit card companies both sides know that you going into bankrupcy is a potential outcome. It is in the law. You should not be ashamed to use any legal actions to your benefit.

You can insist that the law doesnt exist or not be used but then you would be like the liberals who scream popular vote when the law says electoral college.
 
Car loan rates were very low for a number of years. There's never been a better time to borrow (in recent history). It's not surprising consumers decided to finance. Having the use of an asset before you could be able to pay for it is worth the interest cost in my opinion. I don't get the point of hand wringing over this. Can anyone explain what the problem is or why the subject merits a thread?
 
tinfoil said:
Car loan rates were very low for a number of years. There's never been a better time to borrow (in recent history). It's not surprising consumers decided to finance. Having the use of an asset before you could be able to pay for it is worth the interest cost in my opinion. I don't get the point of hand wringing over this. Can anyone explain what the problem is or why the subject merits a thread?
Click to expand...

one of the main dangers in the US is people carry too much debt. In between cc debt student loan debt and sometimes this people have no more money to spend.
 
tinfoil said:
Car loan rates were very low for a number of years. There's never been a better time to borrow (in recent history). It's not surprising consumers decided to finance. Having the use of an asset before you could be able to pay for it is worth the interest cost in my opinion. I don't get the point of hand wringing over this. Can anyone explain what the problem is or why the subject merits a thread?
Click to expand...
There is no problem. There's nothing wrong with the concept of credit. Without it, the auto industry (for one) would crash. Credit keeps the economy moving. When you have a credit rating over 800, you get great rates on all loans in a matter of minutes.

I've got clear title on two properties, and a truck. I owe a pittance on a $30k+ car, only because I roll them over every 3 years or so.

Now...credit should not be granted to everyone, but that doesn't mean that the concept is flawed.
 
tsuke said:
again credit card companies factor that in. It is factored into the amount of interest they charge you. If you are a higher risk then your interest is higher. Credit card companies already make money every time you use the card on the merchants end (they get a portion every swipe) and they make money of your interest. When you enter into a contract with the credit card companies both sides know that you going into bankrupcy is a potential outcome. It is in the law. You should not be ashamed to use any legal actions to your benefit.

You can insist that the law doesnt exist or not be used but then you would be like the liberals who scream popular vote when the law says electoral college.
Click to expand...

They don't make money on interest with me. I don't have a credit card. When I did, I paid the entire bill each month. What that means is I was borrowing their money for nothing.

You should be ashamed to declare bankruptcy because that's nothing more that you not paying what you agreed to pay. It has nothing to do with the interest rate. It has everything to do with the person agreeing to pay not living up to his/her word. It makes them a liar when they don't pay their bills.

Something tells me you declared bankruptcy at some point in time. If so, you should be ashamed for failing to be an honorable person that took out debt then didn't live up to your agreement.

It's like the food stamp recipient that claims to not have the money to feed him/herself but has enough cash to buy beer, cigarettes, and lottery tickets.
 
CFM said:
you should be ashamed for failing to be an honorable person that took out debt then didn't live up to your agreement.
Click to expand...

Anthony Behar—Sipa USA/AP




Donald Trump


[h=1]10 Donald Trump Business Failures[/h]


TIME Staff




Updated: Oct 11, 2016 11:14 AM ET | Originally published: Apr 29, 2011














trump-fail-004.jpg


Anthony Behar—Sipa USA/AP







Donald Trump


[h=1]10 Donald Trump Business Failures[/h]


TIME Staff




Updated: Oct 11, 2016 11:14 AM ET | Originally published: Apr 29, 2011








​







Donald Trump talks a lot about his business successes, but he’s had more than a few failures over the years as well. Here’s a look at some of the missteps he’s made in his long career.
trump-fail-001.jpg
David A. Cantor—AP
[h=2]Trump Airlines[/h]
In October 1988, Donald Trump threw his wallet into the airline business by purchasing Eastern Air Shuttle, a service that for 27 years had run hourly flights between Boston, New York City and Washington, D.C. For roughly $365 million, Trump got a fleet of 17 Boeing 727s, landing facilities in each of the three cities and the right to paint his name on an airplane. Trump pushed to give the airline the Trump touch, making the previously no-muss, no-fuss shuttle service into a luxury experience. To this end, he added maple-wood veneer to the floors, chrome seat-belt latches and gold-colored bathroom fixtures. But his gamble was a bust. A lack of increased interest from customers (who favored the airline for its convenience not its fancy new look) combined with high pre–Gulf War fuel prices meant the shuttle never turned a profit. The high debt forced Trump to default on his loans, and ownership of the company was turned over to creditors. The Trump Shuttle ceased to exist in 1992 when it was merged into a new corporation, Shuttle Inc.

trump-fail-002.jpg
Michael Bezjian—WireImage/Getty Images
[h=2]Trump Vodka[/h]
In April 2006, Trump announced that, after years in the real estate business, he was launching a mortgage company. He held a glitzy press conference at which his son Donald Jr. predicted that Trump Mortgage would soon be the nation’s No. 1 home-loan lender. Trump told CNBC, “Who knows more about financing than me?” Apparently, plenty. Within a year and a half, Trump Mortgage had closed shop. The would-be lending powerhouse was done in by timing (the housing market cratered in 2007) and ironically enough, given Trump’s Apprentice TV show, poor hiring. The executive Trump selected to run his loan company, E.J. Ridings, claimed to have been a top executive at a prestigious investment bank. In reality, Ridings’ highest role on Wall Street was as a registered broker, a position he held for a mere six days.

trump-fail-006.jpg
J. Kempin—FilmMagic/Getty Images
[h=2]Trump Mortgage[/h]
In April 2006, Trump announced that, after years in the real estate business, he was launching a mortgage company. He held a glitzy press conference at which his son Donald Jr. predicted that Trump Mortgage would soon be the nation's No. 1 home-loan lender. Trump told CNBC, "Who knows more about financing than me?" Apparently, plenty. Within a year and a half, Trump Mortgage had closed shop. The would-be lending powerhouse was done in by timing (the housing market cratered in 2007) and ironically enough, given Trump's Apprentice TV show, poor hiring. The executive Trump selected to run his loan company, E.J. Ridings, claimed to have been a top executive at a prestigious investment bank. In reality, Ridings' highest role on Wall Street was as a registered broker, a position he held for a mere six days.

trump-fail-007.jpg
Victoria Arocho—AP
[h=2]Trump: The Game[/h]
In 1989, the Donald teamed up with Milton Bradley to release Trump: The Game, a Monopolyesque board game in which three to four players must buy and sell real estate and try to trump one another in business deals. A year later Trump admitted the game was vastly underselling the predicted 2 million units he and the toy company had hoped for. Not one to abandon ideas, Trump revived the game 15 years later after his success on The Apprentice, making sure to incorporate the series catchphrase “You’re fired!” into the game. Other updated features included a sterner-looking Trump on the box cover, somewhat simpler rules and cards with business tips.

trump-fail-008.jpg
Getty Images
[h=2]The China Connection[/h]
"The problem with our country is we don't manufacture anything anymore," Donald Trump told Fox News a year ago. "The stuff that's been sent over from China," he complained, "falls apart after a year and a half. It's crap." That very same Donald Trump has his own line of clothing, and it's made in ... China. (O.K., O.K. — not all of it. Salon, which reported this intriguing, head-scratching fact, notes that some of his apparel is from Mexico and Bangladesh.)

trump-fail-009.jpg
Saul Loeb—AFP/Getty Images
[h=2]Trump Casinos[/h]
Donald Trump’s gambles don’t always go as planned. Especially when that gamble is gambling itself. In February 2009, Trump Entertainment Resorts Inc. filed for Chapter 11 bankruptcy protection for the third time in a row — an extremely rare feat in American business. The casino company, founded in the 1980s, runs the Taj Mahal, the Trump Plaza and the Trump Marina. All three casinos are located in Atlantic City, N.J., where the gambling industry has faced a decline in tourists who prefer gambling in Pennsylvania and Connecticut instead. Trump defended himself by distancing himself from the company, though he owned 28% of its stock. “Other than the fact that it has my name on it — which I’m not thrilled about — I have nothing to do with the company,” he said. He resigned from Trump Entertainment soon after that third filing, and in August of that year he, along with an affiliate of Beal Bank Nevada, agreed to buy the company for $100 million. The company reported it emerged from bankruptcy in July 2010.

trump-steaks.jpg
Donald Trump during Launch of Trump Steaks at The Sharper Image at The Sharper Image in New York City, New York, United States.Stephen Live-in—WireImage for Hill & Knowlton
[h=2]Trump Steak[/h]
Donald Trump was featured on the June 2007 cover of the Sharper Image catalog hunched over a platter of meat to kick off his line of premium steaks that he dubbed the “world’s greatest.” The company has since been discontinued—maybe it had something to do with the Trump Steakhouse in Las Vegas being closed down in 2012 for 51 health code violations, including serving five-month old duck.

trump-magazine.jpg
Donald Trump poses at the Trump Magazine celebration in New York City on Sept. 20, 2006.Gustavo Caballero—Getty Images
[h=2]Trump Magazine[/h]
Trump launched an eponymous magazine in 2007 that, in a press release announcing the publication’s arrival, was described as “[reflecting] the passions of its affluent readership by tapping into a rich cultural tapestry.” A year-and-a-half after the launch, the magazine ceased publication.

trump-gotrump-com.jpg
Donald Trump at the GoTrump.com launch party at the Marquee in New York City on Jan. 24, 2006.Bennett Raglin—WireImage/Getty Images
[h=2]GoTrump.com[/h]
Trump launched this luxury travel search engine in 2006, only to shut it down a year later, despite being powered by booking giant Travelocity.


160301_em_trumpuniversity.jpg
Real estate mogul Donald Trump holds a media conference announcing the establishment of Trump University May 23, 2005 in New York City.Thos Robinson—Getty Images

[h=2]Trump University[/h]
In 2005, Trump opened the non-accredited, for-profit Trump University. In 2010, four students sued the university for “offering classes that amounted to extended ‘infomercials.’” Following the suit, the “university” changed its name to “The Trump Entrepreneur Initiative,” before ending operations one year later. In 2013, the New York Attorney General sued Trump and the “university” for $40 million for allegedly defrauding students.
 
Bill said:
Anthony Behar—Sipa USA/AP




Donald Trump


[h=1]10 Donald Trump Business Failures[/h]


TIME Staff




Updated: Oct 11, 2016 11:14 AM ET | Originally published: Apr 29, 2011














trump-fail-004.jpg


Anthony Behar—Sipa USA/AP







Donald Trump


[h=1]10 Donald Trump Business Failures[/h]


TIME Staff




Updated: Oct 11, 2016 11:14 AM ET | Originally published: Apr 29, 2011








​







Donald Trump talks a lot about his business successes, but he’s had more than a few failures over the years as well. Here’s a look at some of the missteps he’s made in his long career.
trump-fail-001.jpg
David A. Cantor—AP
[h=2]Trump Airlines[/h]
In October 1988, Donald Trump threw his wallet into the airline business by purchasing Eastern Air Shuttle, a service that for 27 years had run hourly flights between Boston, New York City and Washington, D.C. For roughly $365 million, Trump got a fleet of 17 Boeing 727s, landing facilities in each of the three cities and the right to paint his name on an airplane. Trump pushed to give the airline the Trump touch, making the previously no-muss, no-fuss shuttle service into a luxury experience. To this end, he added maple-wood veneer to the floors, chrome seat-belt latches and gold-colored bathroom fixtures. But his gamble was a bust. A lack of increased interest from customers (who favored the airline for its convenience not its fancy new look) combined with high pre–Gulf War fuel prices meant the shuttle never turned a profit. The high debt forced Trump to default on his loans, and ownership of the company was turned over to creditors. The Trump Shuttle ceased to exist in 1992 when it was merged into a new corporation, Shuttle Inc.

trump-fail-002.jpg
Michael Bezjian—WireImage/Getty Images
[h=2]Trump Vodka[/h]
In April 2006, Trump announced that, after years in the real estate business, he was launching a mortgage company. He held a glitzy press conference at which his son Donald Jr. predicted that Trump Mortgage would soon be the nation’s No. 1 home-loan lender. Trump told CNBC, “Who knows more about financing than me?” Apparently, plenty. Within a year and a half, Trump Mortgage had closed shop. The would-be lending powerhouse was done in by timing (the housing market cratered in 2007) and ironically enough, given Trump’s Apprentice TV show, poor hiring. The executive Trump selected to run his loan company, E.J. Ridings, claimed to have been a top executive at a prestigious investment bank. In reality, Ridings’ highest role on Wall Street was as a registered broker, a position he held for a mere six days.

trump-fail-006.jpg
J. Kempin—FilmMagic/Getty Images
[h=2]Trump Mortgage[/h]
In April 2006, Trump announced that, after years in the real estate business, he was launching a mortgage company. He held a glitzy press conference at which his son Donald Jr. predicted that Trump Mortgage would soon be the nation's No. 1 home-loan lender. Trump told CNBC, "Who knows more about financing than me?" Apparently, plenty. Within a year and a half, Trump Mortgage had closed shop. The would-be lending powerhouse was done in by timing (the housing market cratered in 2007) and ironically enough, given Trump's Apprentice TV show, poor hiring. The executive Trump selected to run his loan company, E.J. Ridings, claimed to have been a top executive at a prestigious investment bank. In reality, Ridings' highest role on Wall Street was as a registered broker, a position he held for a mere six days.

trump-fail-007.jpg
Victoria Arocho—AP
[h=2]Trump: The Game[/h]
In 1989, the Donald teamed up with Milton Bradley to release Trump: The Game, a Monopolyesque board game in which three to four players must buy and sell real estate and try to trump one another in business deals. A year later Trump admitted the game was vastly underselling the predicted 2 million units he and the toy company had hoped for. Not one to abandon ideas, Trump revived the game 15 years later after his success on The Apprentice, making sure to incorporate the series catchphrase “You’re fired!” into the game. Other updated features included a sterner-looking Trump on the box cover, somewhat simpler rules and cards with business tips.

trump-fail-008.jpg
Getty Images
[h=2]The China Connection[/h]
"The problem with our country is we don't manufacture anything anymore," Donald Trump told Fox News a year ago. "The stuff that's been sent over from China," he complained, "falls apart after a year and a half. It's crap." That very same Donald Trump has his own line of clothing, and it's made in ... China. (O.K., O.K. — not all of it. Salon, which reported this intriguing, head-scratching fact, notes that some of his apparel is from Mexico and Bangladesh.)

trump-fail-009.jpg
Saul Loeb—AFP/Getty Images
[h=2]Trump Casinos[/h]
Donald Trump’s gambles don’t always go as planned. Especially when that gamble is gambling itself. In February 2009, Trump Entertainment Resorts Inc. filed for Chapter 11 bankruptcy protection for the third time in a row — an extremely rare feat in American business. The casino company, founded in the 1980s, runs the Taj Mahal, the Trump Plaza and the Trump Marina. All three casinos are located in Atlantic City, N.J., where the gambling industry has faced a decline in tourists who prefer gambling in Pennsylvania and Connecticut instead. Trump defended himself by distancing himself from the company, though he owned 28% of its stock. “Other than the fact that it has my name on it — which I’m not thrilled about — I have nothing to do with the company,” he said. He resigned from Trump Entertainment soon after that third filing, and in August of that year he, along with an affiliate of Beal Bank Nevada, agreed to buy the company for $100 million. The company reported it emerged from bankruptcy in July 2010.

trump-steaks.jpg
Donald Trump during Launch of Trump Steaks at The Sharper Image at The Sharper Image in New York City, New York, United States.Stephen Live-in—WireImage for Hill & Knowlton
[h=2]Trump Steak[/h]
Donald Trump was featured on the June 2007 cover of the Sharper Image catalog hunched over a platter of meat to kick off his line of premium steaks that he dubbed the “world’s greatest.” The company has since been discontinued—maybe it had something to do with the Trump Steakhouse in Las Vegas being closed down in 2012 for 51 health code violations, including serving five-month old duck.

trump-magazine.jpg
Donald Trump poses at the Trump Magazine celebration in New York City on Sept. 20, 2006.Gustavo Caballero—Getty Images
[h=2]Trump Magazine[/h]
Trump launched an eponymous magazine in 2007 that, in a press release announcing the publication’s arrival, was described as “[reflecting] the passions of its affluent readership by tapping into a rich cultural tapestry.” A year-and-a-half after the launch, the magazine ceased publication.

trump-gotrump-com.jpg
Donald Trump at the GoTrump.com launch party at the Marquee in New York City on Jan. 24, 2006.Bennett Raglin—WireImage/Getty Images
[h=2]GoTrump.com[/h]
Trump launched this luxury travel search engine in 2006, only to shut it down a year later, despite being powered by booking giant Travelocity.


160301_em_trumpuniversity.jpg
Real estate mogul Donald Trump holds a media conference announcing the establishment of Trump University May 23, 2005 in New York City.Thos Robinson—Getty Images

[h=2]Trump University[/h]
In 2005, Trump opened the non-accredited, for-profit Trump University. In 2010, four students sued the university for “offering classes that amounted to extended ‘infomercials.’” Following the suit, the “university” changed its name to “The Trump Entrepreneur Initiative,” before ending operations one year later. In 2013, the New York Attorney General sued Trump and the “university” for $40 million for allegedly defrauding students.
Click to expand...

Trump's the only one that ever declared bankruptcy? Unless you're going to include everyone that ever did, run along hack and keep sucking the former black President's dick.

Lincoln and Jefferson filed bankrupcty. Where are there pictures?
 
Last edited:
CFM said:
Trump's the only one that ever declared bankruptcy? Unless you're going to include everyone that ever did, run along hack and keep sucking the former black President's dick.

Lincoln and Jefferson filed bankrupcty. Where are there pictures?
Click to expand...

You just bitched about another member going bankrupt (allegedly) & here you are defending the dirty for doing exactly the same many times...... (is he the only one)..:rofl2: :palm:
 
Bill said:
You just bitched about another member going bankrupt (allegedly) & here you are defending the dirty for doing exactly the same many times...... (is he the only one)..:rofl2: :palm:
Click to expand...

I didn't claim the other member went bankrupt. I said it sounds like it and was waiting on an answer. I find that many who make excuses for using bankruptcy like he said have done so.

Yet here you are only showing one person that ever did it as if he is the only one. Have any more pictures of the others that ever did it. I gave you two names that you ignored.
 
CFM said:
I didn't claim the other member went bankrupt. I said it sounds like it and was waiting on an answer. I find that many who make excuses for using bankruptcy like he said have done so.

Yet here you are only showing one person that ever did it as if he is the only one. Have any more pictures of the others that ever did it. I gave you two names that you ignored.
Click to expand...
Well I understand your suspicions.. I also understand that you condemn him & excuse your orange hero.. NUFF SAID!!!
 
CFM said:
They don't make money on interest with me. I don't have a credit card. When I did, I paid the entire bill each month. What that means is I was borrowing their money for nothing.

You should be ashamed to declare bankruptcy because that's nothing more that you not paying what you agreed to pay. It has nothing to do with the interest rate. It has everything to do with the person agreeing to pay not living up to his/her word. It makes them a liar when they don't pay their bills.

Something tells me you declared bankruptcy at some point in time. If so, you should be ashamed for failing to be an honorable person that took out debt then didn't live up to your agreement.

It's like the food stamp recipient that claims to not have the money to feed him/herself but has enough cash to buy beer, cigarettes, and lottery tickets.
Click to expand...

i didnt go bankrupt :/

also cc companies make money everytime you use your card.
 
tsuke said:
i didnt go bankrupt :/

also cc companies make money every time you use your card.
Click to expand...

I "use" my cards... I get various percents back every time I use it.. Getting an Amazon CC is a straight 3% if you use it to make a purchase on Amazon... Even a gift card..

I also have various bills set to be auto payed w/ the same sitch.. Like a discount on your gas, elect etc bills......
 
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