Collectively, we are dimwits . . .

It isn't fresh news that there is a global economic crisis, nor is it news that debt is the single-most drain on our economic lives.

As a society, we are so intent on the 'live now-pay later' way of life and it is killing us.

Yet . . . .

Even though consumer confidence continues to tumble, household debt remains near record highs and economists are warning of another recession, the issuance of new credit cards is soaring -- especially to the riskiest of borrowers.

We are STUPID!!!

Will we ever learn?

reply to post by GoalPoster


is 'STUPID' as this might be..

aren't we barking up the wrong tree?

end the FED, because they're the ones creating a neverending debt.

these are all side-effects of the ponzyscheme the FED is playing.


if the above is untrue, please enlighten me

Originally posted by GoalPoster
As a society, we are so intent on the 'live now-pay later' way of life and it is killing us.

Even though consumer confidence continues to tumble, household debt remains near record highs and economists are warning of another recession, the issuance of new credit cards is soaring -- especially to the riskiest of borrowers.

We are STUPID!!!

Will we ever learn?

Speak for yourself

I payed all my debt, but i agree as a collective were not that smart.
But that just put you in a new situation, where you need to concider if bankaccounts are safe. Theres more and more indications of the opposite, if you follow this thread. So either you got to spend your cash or invest in safe assets, such as houses or gold maybe?

reply to post by kn0wh0w


I don't think the Federal Reserve makes people take on personal debt nor does it force banks to give out credit to people who will have difficulty repaying (though I suppose the latter is debatable).

reply to post by Mimir


I no longer deal with anything credit except to finish paying off my house. In August 2008, I hacked up every credit card I had, got out of any consumer debt and haven't looked back.

The leases on our cars are done in February 2012 and I'm already lining up two low-cost vehicles for which I will pay cash.

I will no longer feed the pig . . . that's why when I saw this I couldn't help but think that people getting further sucked in to the credit schemes are suffering from the age-old illness of mental dwarfism . . . and the only cure is self control which clearly for many is fleeting at best.

Kudos to you for getting yourself debt free . . . you have my utmost admiration as I know it is a long road to travel, fraught with bumps . . . but it CAN be done.

i agree that collectively we are dimwits, but i am not a dimwit in the way mentioned in this thread, i knew very well what was causing it and that it was not going to get better even though we were told in the past everything is fine we are recovering etc.

so i spent a good year clearing all debts, vowing to NEVER have another loan or ever have a credit card(which i have not done since clearing the debt and do not intend to) etc etc, everything we pay for is in cash, and ONLY if we have the money to hand.

so you can count me out of being a dimwit in this way.

I have a problem with the connection of the personal debt of the individuals to the credit card companies, banks, etc and the National Debt.. I mean lets ask the question. Is the 14+ Trillion dollars the country supposedly owes due to consumer debt? Or is the Govt?? Last I heard the Govt. is spending a trillion dollars every 10 months.
BTW Where is all this money going? Why lend money to risky applicants unless you want to topple their credit rating when they default.Paying your bills is easy when you have a job/income. Paying taxs to the Govt. is not going to happen if you have no paycheck. So why is the Govt. talking job creation , when they willfully sent the income of The American Worker overseas. I think we are victims of a scam and a calculated act to destroy The People and the Govt.was part of it. And BTW Silence is the same as consent when you know and say nothing.Govt today says nothing about why.

reply to post by lifeform11


Good job bub . . . too bad we can't start some sort of campaign to make people realize that it can be done. The only way we're ever getting out of this mess is through the long-term solution of becoming debt free.

An I WILL NO LONGER FEED THE PIG campaign.

reply to post by Mike_A


Thx for your post. If you go to youtube.com and look for the clip called "The Money Masters" you will have a new insight into whats going on with the bankers and their handlers and their intent on The US..

reply to post by CherubBaby


By “clip” do you mean the three and a half hour long video?

If that’s the one you mean I’ve seen it before, can’t remember much, but I don’t think it shows how the federal reserve forces people to take on personal debt, I don’t see how it could.

reply to post by GoalPoster


Who you calling stupid?! Why I could wrangle your...ooooh!!! American Idol is on...I'll deal with you later. Kaythanksbye!

Originally posted by kn0wh0w
reply to post by GoalPoster

 

is 'STUPID' as this might be..

aren't we barking up the wrong tree?

end the FED, because they're the ones creating a neverending debt.

these are all side-effects of the ponzyscheme the FED is playing.


if the above is untrue, please enlighten me

Bravo. Exactly, the focus on how to solve the alleged 'debt' distracts from the real cause of the problems, the corrupt, criminal Fed Reserve.

End the Fed. Return the right to create currency to the Treasury where it belongs, and thus begin to dismantle the ponzi scheme which keeps the world in economic slavery.

You're a little off the mark.
Collectively we're F ing retarded.

"A person is smart, People are stupid".

In China they can't file for Bankruptcy. So any debt stays with them for life. So they save as much as they can and live frugally ...and pass it on to their son when they die.

In America nobody can make enough money to live in a house, so they use credit cards to get by....no matter what they will have nothing to pass on to their kids.


Until Americans have a right to live on a piece of dirt and call it their own, no wealth will ever be created in America.


There's 1/5th of America with their own land holdings...they mostly inherited....and to keep it they enslave the rest of the populace.....keeping 4/5th of the population...homeless.

It's sad really. At any moment almost the entire nation can be homeless. Maybe we would have been better off under the King of England..and the Revolutionary War was for nothing.

You are still actually under British rule. You've won nothing.