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Author: susan400 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308484  
Subject: per replies to my crime and punishment post Date: 9/23/2003 8:33 PM
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FWIW The replies were appreciated. I am basically a free market person and believe individuals need to be responsible for themselves.

That NYTs article understates reality.

CC cos push and push cards, and send encouraging just write a check, promotions twicw monthly.

Except for unusual circumstances, its very foolish to borrow for consumption youcan't afford. The economy is growing at a few %, earnings are growing a little fast than that, to borrow @ 10 12 18 let alone 23 or 27, is just terrible finance.

From talking to a family I know, CC cos egg and egg, someone has a 22.4 balance on a 23k credit line and they still get checks and checks-write 'em!!

as soon as their balances approach their limits, KKkaaafoom and the rate jumps to 24%.

Money invested at 10% goes up aprox 8 fold over just 20 years,

paying 24% is asking for impoverishment.

That is usury .

A crime...

Wait until the day strategy notes are leaked.

They prey on the weakest and IMO will pay.
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