Cameron.. Pay Off Your Credit Cards To Help Economy

[chem1st]

Could not have put it better myself!..............the sooner we all realize that Goverments are operating one giant "ponzi" scheme whereby if we do not have constant growth the whole economy collapses,the sooner we can all take personal responsibilty for the huge debts that we have all had a hand in somewhere down the line!

Some see credit cards as a blessing and others like myself see them as a curse that allows the irresponsible to run riot with debt.

No doubt the true culprits are the perpetrators, BANKS !!! who have encouraged the debt riot. Cameron is right in what he says! we need strong unpopular leaders at this time.

"GROWTH GROWTH GROWTH" aint coming anytime soon,so people best get used to the idea that the "cavalry" aren't coming to save us! the only answer for the next few years is personal austerity,cut your cloth ,trim your sales,whatever you want to call it.

So Mr Moribund and co,don't keep bleating your mantra "growth growth growth"..............give us some of Camerons ideas on personal responsibility which can be applied in some measure to every single person in this country till things might possibly improve!

 

We have a ponzi greater than biblical proportions. Debt is used to issue debt. We must protect ourselves. There will be losers. But currently the losses are being forced upon the masses who are being exploited.

 

Debt is slavery.

 

Production is what matters, sensible use of your labour. Food could become scarce due to misallocation of labour.

Inequality is now higher than it was in the 1920s, through change of the tax-benefit system, this needs to be addressed.

 

Short sharp shocks and an equal playing ground. Goodbye paper wealth.

 

Real wealth lies in efficient production for the masses.

 

Building enough houses for all members of the state. Providing a sufficient level of public services. Unemployment (Read; leisure)

 

Consider a fence, it is divison. It is inequality.

 

Seize the fence. Use it as a vertical growing medium, rather than a barrier.

 

Get out of your cars, stop wasting money on insurance and petrol. Live near your own workplace, start a business (without debt) in your local area.

 

You can hang boxes of soil upon a fence and grow more than you could do so on the land itself.

[Sarkysod]

After a few years of tussling with credit card cards, I have now managed to pay them off. I stick the £100 a month, I was paying in a savings account. I look at as a debt still to pay and then use it when I need something I would normally buy with a credit card like a new washer or cooker.

[I1L2T3]

After a few years of tussling with credit card cards, I have now managed to pay them off. I stick the £100 a month, I was paying in a savings account. I look at as a debt still to pay and then use it when I need something I would normally buy with a credit card like a new washer or cooker.

 

It's a great position to have got yourself to. It's pretty much what people used to do - save up.

[donkey]

How about talking about responsible borrowing instead of responsible lending?

 

So if I leant out all the money I had been trusted with to people I didn't really know, without any concrete guarentees it would be paid back, a few weeks later when there was no food on the table, I could declare "It wasn't me, it was those irresponsible people who borrowed all the money." But it would all work out, because I would get bailed out by the public anyway.

 

 

When some of the cleverest people - and I make a big distinction between clever and intelligent here - in the country targeted vast amounts of cheap credit, chiefly at people who habitually watch daytime TV, it was clear that what motivated this axis of marketing men and financiers was deliberately seeking out those most likely to be broke, yet at the same time, least capable of making 'responsible' choices about the consequences of their actions.

 

What universe is it where the blame can be passed from those supposedly expert economic/financial strategists for the reckless manner in which they systematically undermined the institutions they profitted so greatly from - onto the customers who they themselves deliberately targeted? Did the customers dictate the terms of the business? Was it their responsibilty to research what the long term effects on the banks might be if people like them accepted the credit they were offered? Maybe they should have got the multi £million bonuses then?

[I1L2T3]

The thing is donkey the blame is usually on both sides of the deal. Irresponsible lenders lending to irresponsible borrowers.

[Longcol]

David Cameron is to tell the country to pay off credit cards to help the economy recover.

 

 

http://www.telegraph.co.uk/news/politics/conservative/8807498/Conservative-Party-Conference-2011-pay-off-credit-cards-for-the-sake-of-the-economy-says-David-Cameron.html

 

24 hours later he's saying he was "misinterpreted".

 

http://www.guardian.co.uk/politics/2011/oct/05/david-cameron-conference-speech-rewrite

[Cyclone]

You might be happy to go around smelling like a tramp but most people have more class.

 

Or, of course, you could get mummy to do your washing for you.

 

Or use a laundrette as Tony said.

[MrSmith]

 

If you've never defaulted, been late or have any kind of blemish, however minor, it only makes your credit rating better.

 

I'll always remember going out to buy some 3-piece suites in IKEA in 2008, literally within days from moving back to the UK after 4 years away (and little banking to speak of in the UK during that time). Got 0% sorted within 15 minutes, even though I wasn't yet on the electoral roll, didn't have my first payslip or any utilities bill or the like. But then, a mortage fully paid up 4 years prior, and not ever any payment default or blemish, still counts for something, I guess

 

I like 0% (when the financed price is right, of course...it wouldn't do to pay over the odds, i.e. a '0% price inflated by 15% APR front-loaded' ). Means the retailer is so desperate to shift stock, he's borrowing from the bank and paying the interest, and letting me have the capital for free for <credit period>

 

All that said - I never, ever borrow more than I couldn't afford to buy outright with cash. In fact, I only ever use credit if it is 0% and you're talking 'loud stuff' (settees, car, etc.).

 

It’s the first thing my kids did when they started working, get a 0% card, run it to max and pay it off before paying interest, then get another. By the time they need a mortgage they will have a better credit rating. Its time schools started financial lessons.

[MrSmith]

What about all these faceless blocks of flats around town that have gone up over the last 10 - 15 years, which will probably never be worth what people paid for them again, did you support the borrowings people made for those???

 

Sheeple comes to mind, they saw easy money. Builders will build it if they think someone will buy it and banks will lend them the money to do it, both are business and want to make money. It was the responsibility of the people buying and the government to regulate it. It was a speculative property bubble that was encourage by the government to drive the economy.

[MrSmith]

So if I leant out all the money I had been trusted with to people I didn't really know, without any concrete guarentees it would be paid back, a few weeks later when there was no food on the table, I could declare "It wasn't me, it was those irresponsible people who borrowed all the money." But it would all work out, because I would get bailed out by the public anyway.

 

 

When some of the cleverest people - and I make a big distinction between clever and intelligent here - in the country targeted vast amounts of cheap credit, chiefly at people who habitually watch daytime TV, it was clear that what motivated this axis of marketing men and financiers was deliberately seeking out those most likely to be broke, yet at the same time, least capable of making 'responsible' choices about the consequences of their actions.

 

What universe is it where the blame can be passed from those supposedly expert economic/financial strategists for the reckless manner in which they systematically undermined the institutions they profitted so greatly from - onto the customers who they themselves deliberately targeted? Did the customers dictate the terms of the business? Was it their responsibilty to research what the long term effects on the banks might be if people like them accepted the credit they were offered? Maybe they should have got the multi £million bonuses then?

 

I think that’s where the government comes in, they regulate banks and businesses and make sure they act in a fare way. The problem with the banks is that the governments of the world didn’t understand the complexities of all these debts that were being sold as investments.