Side Effect of Stimulus Package or Recession or Both?

Discussion in 'Economy' started by Zoom-boing, Feb 23, 2009.

  1. Zoom-boing
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    Zoom-boing Gold Member

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    The interest rate on my credit card just jumped from 12.9% to 17.9%. Is this the tip of the inflation iceberg?
     
  2. editec
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    editec Mr. Forgot-it-All

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    More like the tip of the DEFLATION iceberg, methinks.

    Yes, the credit cared shylocks are still willing to lend you money, but only at exorbitent rates of interest.

    There is vitually NO INFLATION, right now, yet these greedy motherfuckers demand 18% interest?!?!

    I'm tellin yas, no solution to this problem that does start with the public hanging of some of this industries most egregious examples of greed gone mad is really going to solve a thing.

    The salaries that we have allowed this Banking Mafia to extract from our scoeity has become the moral hazard of our age.

    All that Obama SEEMS TO BE DOING, as far as I can see is restarting a system which is inherently flawed to begin with.

    Our banking industry, which is after all only an auxillery industry to real production projects, has become a parasite on the rest of our society, and one which gets far too much money out of every project.

    It has been sucking in the best minds of our society (because that's where the money was) but by doing so it has taken lured lion's share of our society's working capital into essantially NON PRODUCTIVE debt instruments at the same time.

    Whenever ANY sector of our society becomes dominate, and begins to get an increasingly outlandish share of the GDP, then that industry bleeds off the investment capital and intellectual capital (human resources) that is probably needed elsewhere to maintain a truly vibrant community.

    Thinking that the USA could thrive as a nation of SERVICE INDUSTRIES is a goofy notion, but one which I heard I don't KNOW how many so-called economists tell us was the wave of the future.

    Well,, the wave of our future is hitting us right now, and most of us are not very liquid, even if we are UNDER WATER.
     
    Last edited: Feb 23, 2009
  3. KittenKoder
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    KittenKoder Senior Member

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    They have to get paid somehow, since most people using credit rarely pay more than the minimum the lenders have to raise interest rates to make some kind of profit. It's the borrowers who made the mess anyway so fuck em.
     
  4. Zoom-boing
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    Zoom-boing Gold Member

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    LOL they don't make a dime off of me. Any balance on there is always paid in full by the due date.
     
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  5. KittenKoder
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    KittenKoder Senior Member

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    Then why are you upset or worried?
     
  6. WillowTree
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    WillowTree Diamond Member

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    One of the truly smart peoples!



    :clap2:
     
  7. WillowTree
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    WillowTree Diamond Member

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  8. KittenKoder
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    KittenKoder Senior Member

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    The wording ... people are lucky that there is still a credit system available really, they should have all collapsed instead of being bailed out.
     
  9. WillowTree
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    WillowTree Diamond Member

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    people like zoom and myself would not miss a credit card.. except for the points we earn for flyer miles that is..
     
  10. Truthmatters
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    Truthmatters BANNED

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    I also never carry a balence and have one for the conveinece reasons of renting a car and the like.

    The corporations are acting like fucking assholes by going after college kids and charging high rates like mentioned above.

    Its them who LENT to people who could not pay back.
     

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