People are living on credit cards and getting screwed

T. A. Gardner said:
I showed very clearly that's not the case for over half the US population. For them, they carry a running balance and likely will never pay their cards off. These are people that in a pinch with unexpected bills to pay are forced to do things like move balances to new cards to have room to pay the bills.
This isn't something Trump started or exacerbated. It's been going on for a while and when you get hit with inflation and wage stagnation as has happened since Biden took office, you can be absolutely fucked financially if you're in that position.
Credit card companies use a number of tricks to get these lower end people hooked, like no fee balance transfers, low introductory rates, etc. Once they get you on their card, you can't get off. If at some point down the road you end up unable to pay or bankrupt, they really don't give a shit because they've already milked you for a substantial profit. Hell, they make 3% of every card transaction right off the top from the vendor (who has prices set to cover that).
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We all know morons who live with balances for years. They think in terms of 'what's my monthly payment?'. They walk into a car dealership and instead of asking how much the car costs, they ask about the payment.

It, as you say, has been going on forever.

So it has nothing to do with the economy...which is booming.
 
Althea said:
You keep saying that, but I don't see Biden resigning solely to make Harris an incumbent.

I don't see her getting the nomination if he doesn't run, though
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I mention that as a best strategy for Democrats, not for Biden.

Agreed, Biden probably won't resign. 2024 will turn into a Free-for-All election and DeSantis has good odds of becoming President because, as you just helped prove, the Democrats don't have anyone better than Grandpa Biden. LOL
 
Dutch Uncle said:
I mention that as a best strategy for Democrats, not for Biden.

Agreed, Biden probably won't resign. 2024 will turn into a Free-for-All election and DeSantis has good odds of becoming President because, as you just helped prove, the Democrats don't have anyone better than Grandpa Biden. LOL
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On a national stage, DeSantis fails.

Credit to Biden. His failed student loan plot brought kids to the polls. If the next two years show kids that he's still fighting for them, we could be surprised.

BTW...I don't see Biden as the best candidate, but it's rarely about who is 'best'. Sadly.

I want someone like Buttigieg in the White House. Harris doesn't have the demeanor, nor does she have staff that can win her an election.

Her last run was grossly incompetent
 
Althea said:
On a national stage, DeSantis fails.

Credit to Biden. His failed student loan plot brought kids to the polls. If the next two years show kids that he's still fighting for them, we could be surprised.

BTW...I don't see Biden as the best candidate, but it's rarely about who is 'best'. Sadly.

I want someone like Buttigieg in the White House. Harris doesn't have the demeanor, nor does she have staff that can win her an election.

Her last run was grossly incompetent
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There isn't one thing here I disagree with. I also think Harris has a personality problem. Is it unfair? In large part yes, but it is what it is.
 
Althea said:
We all know morons who live with balances for years. They think in terms of 'what's my monthly payment?'. They walk into a car dealership and instead of asking how much the car costs, they ask about the payment.

It, as you say, has been going on forever.

So it has nothing to do with the economy...which is booming.
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Many people live beyond their means. They are always one misstep away from economic disaster. I watched them lose their houses after 2009 not because they were stupid, but because they were greedy. Let's take the equity on our WAY overvalued house and buy a boat, a new car, a vacation, and then whined when the value dropped and they lost their homes. Or better said, they walked away. I refinanced twice with the single purpose of lowering my interest rate. I had little sympathy for them.

I walked into a dealership three weeks ago and paid in cash. First time for me, and it was fun. I'd still prefer to get really low rates on car and mortgage, but my wife is debt averse and her angst isn't worth the little money I might gain.
 
Concart said:
Many people live beyond their means. They are always one misstep away from economic disaster. I watched them lose their houses after 2009 not because they were stupid, but because they were greedy. Let's take the equity on our WAY overvalued house and buy a boat, a new car, a vacation, and then whined when the value dropped and they lost their homes. Or better said, they walked away. I refinanced twice with the single purpose of lowering my interest rate. I had little sympathy for them.

I walked into a dealership three weeks ago and paid in cash. First time for me, and it was fun. I'd still prefer to get really low rates on car and mortgage, but my wife is debt averse and her angst isn't worth the little money I might gain.
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You are telling everyone you are rich. Yet this is the first time you paid cash for a vehicle? When will your lies stop Concart?
 
Theywillneverlearn! said:
You are telling everyone you are rich. Yet this is the first time you paid cash for a vehicle? When will your lies stop Concart?
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How are those two things in any way incompatible. Anyone who has a mortgage rate under 4 and pays it off is missing out on a huge opportunity. Some debt is good, some is bad. You really are a simpleton, aren't you?

See, what I did is I saved and invested my entire life. I moved from growth to income after 2008. My income now is multiples of what it was when I worked at a much lower tax rate. You honestly seem to know almost nothing about any subject. It's sublime.
 
Concart said:
How are those two things in any way incompatible. Anyone who has a mortgage rate under 4 and pays it off is missing out on a huge opportunity. Some debt is good, some is bad. You really are a simpleton, aren't you?

See, what I did is I saved and invested my entire life. I moved from growth to income after 2008. My income now is multiples of what it was when I worked at a much lower tax rate. You honestly seem to know almost nothing about any subject. It's sublime.
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Keep digging your hole of lies deeper welfare boy. Every time you attempt to remotely speak to anything economic your bullshit comes shining through.
 
Cash is still king.

Granted, there are many things you simply need a credit or debit card for (shopping online, paying for checked bags on a plane, etc), but everyone likes cash.

I have one card for personal expenses and one company card for my business expenses. There's rarely a balance carried on either of them...
 
Theywillneverlearn! said:
Keep digging your hole of lies deeper welfare boy. Every time you attempt to remotely speak to anything economic your bullshit comes shining through.
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You really are an interesting case. Your stimulus/response seems entirely reflexive. I doubt if I had changed the content of my posts that it would have had any impact on your response. You see a post, you click it, and words vomit from your brain to the screen. Most of the Neanderthals here seem to have at least gotten their brains to a more advanced state. I take you for a guy whose job involves you doing one thing. Multitasking has to be out of the question.

Anyway, thanks for the thought puzzle. Have a good one.
 
Concart said:
You really are an interesting case. Your stimulus/response seems entirely reflexive. I doubt if I had changed the content of my posts that it would have had any impact on your response. You see a post, you click it, and words vomit from your brain to the screen. Most of the Neanderthals here seem to have at least gotten their brains to a more advanced state. I take you for a guy whose job involves you doing one thing. Multitasking has to be out of the question.

Anyway, thanks for the thought puzzle. Have a good one.
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Thanks for lisping your admittance of a loss. Again. Welfare boy.
 
Concart said:
Many people live beyond their means. They are always one misstep away from economic disaster. I watched them lose their houses after 2009 not because they were stupid, but because they were greedy. Let's take the equity on our WAY overvalued house and buy a boat, a new car, a vacation, and then whined when the value dropped and they lost their homes. Or better said, they walked away. I refinanced twice with the single purpose of lowering my interest rate. I had little sympathy for them.

I walked into a dealership three weeks ago and paid in cash. First time for me, and it was fun. I'd still prefer to get really low rates on car and mortgage, but my wife is debt averse and her angst isn't worth the little money I might gain.
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We can debate whether someone who listens to a mortgage broker when they are told to take this low interest ARM, is stupid or greedy.

I'm debt averse as well, but quite often it makes more sense to use their money if your money is earning more. I've also taken $1000 rebates for using their credit, only to pay off the note in a month or two. None of which compares to that angst one feels when the wife isn't happy ;)


To the OP, I'm willing to bet that right now Home Depot has countless millions of dollars loaned at 0% as we type. The OP is misleading.


There are some people who simply should not be given a credit card. They don't fully comprehend the danger, or they just don't care. CC companies love these people.

You and I are considered 'deadbeats' by these companies, but they need us to remain liquid. They get the fee from vendors, which costs them a point or two overall if they're giving us 5.
 
Concart said:
You really are an interesting case. Your stimulus/response seems entirely reflexive. I doubt if I had changed the content of my posts that it would have had any impact on your response. You see a post, you click it, and words vomit from your brain to the screen. Most of the Neanderthals here seem to have at least gotten their brains to a more advanced state. I take you for a guy whose job involves you doing one thing. Multitasking has to be out of the question.

Anyway, thanks for the thought puzzle. Have a good one.
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Nah. He's accurately describing your ineptitude with any kind of economics.
 
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