Suze Orman just convinced me the bailout bill is a bad thing?
eekamouse
Posts: 267
Yep.
She's for the bailout bill, but when she was asked by Larry King, "Why is this bailout necessary?"
Suze: "Because your credit card companies will dry up your available credit, which will lower your FICA score, which will cause your premiums to go up."
Wait. WTF? (and she's fucking serious about it and obv knows what she is talking about).
But.... Are you f u c k i n g serious? So they have us by the balls then.
Granted. I do put emergencies on my credit card, but that's it. I never ever buy dinner with it, or frivolous things.
I'm sorry but this is the same as deadbeat home owners.
AMERICA!!!
It's time to knock this fucking shit OFF. NO BAILOUT! Suck it up and buy what you can afford.
Is it really that hard? Fucking drug addicts.
She's for the bailout bill, but when she was asked by Larry King, "Why is this bailout necessary?"
Suze: "Because your credit card companies will dry up your available credit, which will lower your FICA score, which will cause your premiums to go up."
Wait. WTF? (and she's fucking serious about it and obv knows what she is talking about).
But.... Are you f u c k i n g serious? So they have us by the balls then.
Granted. I do put emergencies on my credit card, but that's it. I never ever buy dinner with it, or frivolous things.
I'm sorry but this is the same as deadbeat home owners.
AMERICA!!!
It's time to knock this fucking shit OFF. NO BAILOUT! Suck it up and buy what you can afford.
Is it really that hard? Fucking drug addicts.
Love is more important to me than faith.
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Lol. I love this country.
"It's my right to waste your money... /whine"
*sigh*
All that great music you've enjoyed throught the years, all the music was created by artist, artists who were real fucking high on drugs.
False. Most of them used drugs conservatively
Bill Hicks?
And what do drug addicts have to do with this?
Unless it was a metaphor for something else.
It was. I figured it was obvious. People are addicted to credit... like a drug.
http://forums.pearljam.com/showthread.php?t=272825
Robert Palmer
besides i did not want to google it....takes all the fun out of life.
...but those ripple effects are needed. It's known as a market correction.
http://forums.pearljam.com/showthread.php?t=272825
Exactly, just like value of my house will decline. I'm ok with that. I don't discriminate with tough love.
The bailout plan is way less than perfect, but at least it would have loosened up credit to the market and stopped stocks from plummeting. Then people wouldn't have lost their pension and 401K plans along with getting screwed with a bailout plan that's going to happen anyway.
"Some of my friends sit around every evening and they worry about the times ahead,
But everybody else is overwhelmed by indifference and the promise of an early bed..."-- Elvis Costello
Percentage declines in the indexes numbered in the low single digits. People took hits, but nobody "lost" anything today.
In fact, the fact that 1.2 trillion in losses added up to only a 7% decline should tell you that inflation is an apparent problem.
http://forums.pearljam.com/showthread.php?t=272825
I always save and pay in cash so if spending goes down, there will probably be plenty of price deals out there.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
One can hope
There is any easier way to address that than this bail out. Instead of the bail out give a large sum of that $700 billion to the small business administration to use for loans for small and medium sized businesses. This way you can reward the companies that have performed well and are helping the economy without having to bail out those that screwed up.
That's what I don't get... It seems like Washington is saying that the only way to enable banks to lend money in "good" loans, is to reward them by covering them for all of the bad loans that they bought or issued.
We are closing on a house next week, and talking to my mortgage broker, we have nothing to worry about, because we have good credit, and the house was appraised well. It's a responsible loan for a bank to make. Why would credit all of a sudden dry up for "good" loans. You would think that if anything, banks would be fighting over good loans to help make some money back to cover all of the shitty ones they made.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
Of course banks are still writing loans. They need the business so if you have a good sized down payment and a good credit score you will have no problem getting a mortgage. My father just closed on a loan to expand his business with no problem because he has been a customer of his bank for years and has a good credit history with them. The problem is that the government wants the banks to hand out more loans, mortgages, car loans, credit cards, because our economy is fueled by our ability to create debt. Without our ridiculous spending habits our economy will slow down and we will go into a recession. So instead of actually fixing the problem they want to just sweep the bad loans under a rug and return to business as usual.
When I use my credit card that's what I do. I make sure that I have the cash for the purchase and then pay it off, in full, when the next statement arrives. I have two credits cards and both have a zero balance.
I think they have debit cards that do the same thing. I'm pretty sure I can redeem rewards on mine.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
My debit card does the same thing, except with my bank I only get 25 debit card purchases a month before they start charging me per purchase. If I use my credit card, I actually get better rewards and I basically get unlimited transactions.
Plus it helps build my credit so when I actually need a real loan, I've got a good record.
i flew to NZ on points too! ... also took my folks to europe!! ... for sure, if you can make your credit card work for you - do it for sure!
So what I don't get is if the underlying problem is the bad mortgages, why are we proposing $700 Billion to go buy up ALL kinds of bad loans, credit card, car loans, biz loans, help out overseas banks, etc. The bailout just reeked of overkill to me, with no oversight. Along with the whole "privatized gains and socialized losses...."
I've totally thought a major "correction" was coming for quite some time and was glad when it finally popped it's head up last Nov/Dec. I prefer my house to be made of bricks and steel, not straw, or wood ... or playing cards!
It's gonna be bad, mayhaps real bad, but we'll be better off rebuilding on solid foundations.
And MAN can we start seeing some PERP WALKS for some of these mortgage morons and bankers and "regulators" for fraud already!