Some folks just don't get it

The state of things that is. In the last 2 weeks 4 people I know have lost houses to foreclosure. 3 of the four have late model buggies with payment books. All have huge credit card bills yet still go to the fuckin mall at least once a week. All have or had toys like Harleys and ATV's. Of the 4 two of the guys are on disability yet had enough coming in to pay the bills. The other 2 are multi job households. All of them tell me I work too much. WTF did I miss?

Credit, the ruin of civilization. I'm ok with a house morgage or borrowing money to make money like business. But borrowing money for toys, vacations, appliances ect., just plain stupid. And I've been there. It is amazing how liberating it is to owe NOBODY.

One of the problems for farmers are most of them run on operating loans....if you don't make much money why spend 250k on a new tractor??

71ford100 wrote:One of the problems for farmers are most of them run on operating loans....if you don't make much money why spend 250k on a new tractor??

Yeah, I hear that. My brother in law"s bank makes way more off the ranch than he does. Debt service is right at $1000 a day, that's like $350,000 a year just in interest on the mortgage and operating loans. Something wrong with that picture.
I knew guys in Alaska, Fancy home, new pickup and new SUV, boat, snowmachines, jet-skis, 4 wheelers. Then they get laid off and in 90 days they have nothing. Bankers and loan institutions should be nutted for even letting some sap get in that deep.
Years ago, South Dakota changed it's usury laws to woo all the big credit companies into the state. Shit that used to be paramount to loan-sharking and slavery are now ok because we have Citibank and businesses like that hiring people in Sioux Falls.
It also should be illegal as hell for a car dealership to sell anyone anything they will ever be upside down in. That's pretty much the norm nowdays, pay for 2 1/2-3 years before you owe less than a vehicle is worth. Of course how else would they sell $60,000 pickups.

It took me several years to pay off all the stuff I got stuck with from the divorce. Along with that I had to borrow money for badly needed home repairs. This past summer I finally paid off the last of the credit card bills. I still have a mortgage but it's never been late and they get extra on the principal every month. I don't have much mad money but I also don't have bill collecters calling either.

Yup...some real geniuses out there. One of my buddies and his wife finally lost their house this year. Of course they have had a brand new, top of the line pickup every 2 years for the last 10 years or so, had to have everything in the house, big screen, all that crap.....all of it top of the line (or at least the most expensive they could find, it seemed)...nothing was used when they got it. When they moved in to the house (new house, just finished, of course) they had no furniture, so we offered some that I had upstairs in storage...noooooooooooo. They didn't want anything used...... now they don't have any of it.
Some people I feel sorry for...others pretty much earned their loss. I look at some of these people and just shake my head. It's like my Grandpa said...You can't borrow yourself rich!
JH

John I would have taken you up on that offer in a heart beat. The only new furniture I've bought in the last 10 years was the set in my daughter's bedroom. I had enough sense to buy stuff that she would want as an adult not as a kid. Got it on a 6 months same as cash deal and paid it off ahead of the due date. Of course to take advantage of those deals you have to hustle a bit but you're using someone else's money for free. I was told that only about 5% of the folks who buy like that actually make out. The other 95% pay all the interest and then some. Dumb chits don't realize that is an easy way to build a credit rating.

it's a bad situation & has been fostered by the govt.

the credit rating thing just pisses me off--now days they check your credit before they hire ya

mine is "in a van, down by the river"

there is a new way of life on the horizon--new money(precious metals backed--no more fiat, print all ya want crap)--no more bankster/fraudster govt.--this will be a world wide thing, not to be confused with the NWO(new world order)

finance land, home & maybe a vehicle(if ya have to)--living within your means is a lost art for most--i wonder what the percentage is of folks that finance their groceries??

new furniture--omfg--early junktique here--lol

farming is a whole nuther story--even when i was in highschool--the finance route was the way of life--vegas has shit on a farmer/rancher--it's the biggest crap shoot on the face of the earth--weather/bugs/low market prices/fuel cost--on and on

seriously--i have lived out of vehicles and slept under bridges--i don't care to do it again, but i know how to survive whether in a metro area or BFE, i pretty much know what those frontier guys felt like, danger at every turn, your senses go to another level--i never did combat, but it must be the same, regular life can be boring afterward(had some gangsters in LA take me off the street, that was scary)

oh well--later

Admin wrote:i wonder what the percentage is of folks that finance their groceries??

new furniture--omfg--early junktique here--lol

Financed groceries twice. Both times I had coins but my dumb ass forgot about stopping at the money machine until I was in line with a full buggy. ( We need an emoticon of of an idiot hitting itself with a hammer ).


Early junktique. Sounds familiar. I usually get mine at Curb World or Dumpster Mart