AT epic fail in debt discussions

[RFE]

maluckey, do you have debt or incurred it the past?

Troll much?

His point is regarding affordability of the amount of debt, and bringing it into balance. The original post is a good one. Rainsford and others have added some good comments regarding government efficiency and needs, too. But the point is that we spend too much, so what should be looked at?

So, lets ask you a question: If you happened to get yourself in a bind where you realized that you had more debt than what you could afford, what would you do? If the question directed at an individuals situation seems irrelevant, then assume that you are the CEO of a large company....what would you do?

 

[dmcowen674]

As for the debt discussion, the Dems want to raise taxes without reducing spending.

This is a lie

The Repubs want to reduce spending without raising taxes.

This is two parts, first part is a Lie, 2nd is True

See bold

 

[her209]

Troll much?

You could ask the same of the OP.

His point is regarding affordability of the amount of debt, and bringing it into balance. The original post is a good one. Rainsford and others have added some good comments regarding government efficiency and needs, too. But the point is that we spend too much, so what should be looked at?

Maybe he'd get his point across better if he didn't come off as a condescending "moronic fucktard".

So, lets ask you a question: If you happened to get yourself in a bind where you realized that you had more debt than what you could afford, what would you do? If the question directed at an individuals situation seems irrelevant, then assume that you are the CEO of a large company....what would you do?

Personally, I'd reduce debt that doesn't result in a net positive. That means cutting down and eliminating credit card balances. That means not going out partying every weekend. Eating out less. etc. But that doesn't mean I shouldn't take out a mortgage to buy a house or take out a loan for a business idea.

Keep in mind that Obama isn't responsible for the entire debt as in your scenario.

 

[sandorski]

Protip: Calling others "Epic Fail" by epically failing doesn't work.

 

[JSt0rm]

I love all this high school math "knowing in their gut" whats the right thing to do and that is fucking us.

 

[maluckey]

maluckey, do you have debt or incurred it the past?

As a matter of fact I don't. I practice what I preach......I tried credit one year, bought a few items I thought that I wanted and later realized that I was being reckless with my future. It did bite me, but not fatally so I learned a lesson. Been 100 percent debt free for years now. That's why I can see clearer than most about all this....because it doesn't affect me.

The lesson learned was that NOTHING is free. That money wasn't mine, though it sure felt like it.

On to the topic!

Why is it that AT can't even agree that the financial system is broken and our elected officials are playing games at a time when we need them to sit down and talk like this thread is trying to do?

An argument in this thread is that it's being charcterized as too simplified! It truly is a simple matter. It's also true that it will be painful. Everything won't be fixed at once. Some will lose their jobs, some will lose their savings. Some businesses will fail. Some people will do better and some businesses will flourish. There's no easy fix, but by being too paralyzed with being politically correct, we go ahead and ensure our own failure.

 

[maluckey]

I love all this high school math "knowing in their gut" whats the right thing to do and that is fucking us.

What's high school about it!? 10 is greater than 9. A fifth-grader knows that if he only has a dollar that he can't buy two dollars in goods.

 

[JSt0rm]

As a matter of fact I don't. I practice what I preach......I tried credit one year, bought a few items I thought that I wanted and later realized that I was being reckless with my future. It did bite me, but not fatally so I learned a lesson. Been 100 percent debt free for years now. That's why I can see clearer than most about all this....because it doesn't affect me.

The lesson learned was that NOTHING is free. That money wasn't mine, though it sure felt like it.

On to the topic!

Why is it that AT can't even agree that the financial system is broken and our elected officials are playing games at a time when we need them to sit down and talk like this thread is trying to do?

An argument in this thread is that it's being charcterized as too simplified! It truly is a simple matter. It's also true that it will be painful. Everything won't be fixed at once. Some will lose their jobs, some will lose their savings. Some businesses will fail. Some people will do better and some businesses will flourish. There's no easy fix, but by being too paralyzed with being politically correct, we go ahead and ensure our own failure.

So if you were shopping for a new car and they offered you 0% interest you would still pay up front full cash?

 

[JSt0rm]

What's high school about it!? 10 is greater than 9. A fifth-grader knows that if he only has a dollar that he can't buy two dollars in goods.

I know you think its that simple but its not.

 

[Infohawk]

OP shouldn't criticize watercooler analysis when he makes the ultimate watercooler analysis in acting like the federal government's finances are the same as a family's finances.

 

[maluckey]

So if you were shopping for a new car and they offered you 0% interest you would still pay up front full cash?

.

First I don't buy new cars...second, I paid cash for my wifes car, and built my own from a shell.

good try though.

I know you think its that simple but its not.

Please explain why it's so hard to get that you can't spend more than you make. Otherwise, please enjoy the rest of the posters actually adding something useful to the thread.

OP shouldn't criticize watercooler analysis when he makes the ultimate watercooler analysis in acting like the federal government's finances are the same as a family's finances.

We all wish they were! I don't spend more than I make.

here's a good idea..let's cut corporate welfare to the tune of almost a 100 billion dollars...

"The Cato Institute estimates that corporate welfare costs $92 billion annually (not even counting the $700 billion TARP legislation). SeeStephen Slivinski, "The Corporate Welfare State: How the Federal Government Subsidizes U.S. Businesses," Cato Institute, May 14, 2007, at http://www.cato.org/pub_display.php?pub_id=8230 (October 5, 2009). "

What are the the pros and cons of this...who does this truly help?

 

[JSt0rm]

.

First I don't buy new cars...second, I paid cash for my wifes car, and built my own from a shell.

good try though.

Obviously not good enough as you totally dodged the question. If you were offered money at 0% interest would you take it?

 

[MovingTarget]

Ah, the magic scientific wand that can be waved and solve all our problems in life! All we need to do is believe hard enough and it will come true!

Belief my ass. All we have to do is "believe" hard enough that dependence on oil won't screw us over.....and here we are. There will always be uses for oil, but areas such as power generation and transportation are too vital for our economy to be so dependent upon. Nothing will change unless we DO something about it, you know, actually fund those activities and get scientists and engineers working on the problem. Relying on the free market to do the research and deploy something to drastically reduce our dependence on oil is tantamount to saying that we can sit back and wait for the flying spaghetti monster to do it for us....it isn't going to happen. I at least realize that it will take time, effort, and serious resources to accomplish. Whatever happened to Americans' sense of determination in scientific/technical endeavors?

 

[maluckey]

Obviously not good enough as you totally dodged the question. If you were offered money at 0% interest would you take it?

...that's debt...NO! If you don't have it at the time of purchase you don't have it. Debt doesn't exactly need a percentage tagged to it to be dangerous. See how simple that is?

Trades might be doable with material goods provided both sides are amenable, and the goods are something that you longer need or want (Man! I love Craigslist for that) even still, the transactional balance is affordable because you owe nothing, and gave nothing useful (to you at least).

 

[Engineer]

...that's debt...NO! If you don't have it at the time of purchase you don't have it. Debt doesn't exactly need a percentage tagged to it to be dangerous. See how simple that is?

But if you have the money at time of purchase and 0% is offered? That's leverage and can be used to make you money.

 

[MotF Bane]

...that's debt...NO! If you don't have it at the time of purchase you don't have it. Debt doesn't exactly need a percentage tagged to it to be dangerous. See how simple that is?

Finance fail!

Your opinion on the United States debt situation is now proven irrelevant.

Congrats, JStorm.

 

[Nebor]

But if you have the money at time of purchase and 0% is offered? That's leverage and can be used to make you money.

Only through bankster trickery and other wall street black magic! :sneaky:

 

[Engineer]

Only through bankster trickery and other wall street black magic! :sneaky:

LOL. 4 to 5 years ago, it was as easy as taking candy from a baby. Get $50,000 of credit card money at zero fees and zero % interest, invest in Treasury Bills making 6% and boom, instant money for free.

Now, rates are so low and free money (zero %) is so hard to come by, it's not worth the effort.

 

[Nebor]

And the OPs problem is that he takes people here as seriously as they take themselves. Half the people here act like they're on fucking CSPAN proposing their Final Solution to congress. When in reality nothing they say matters one bit.

The best part is you know that the real nutters like Craig are foaming at the mouth as they slam on their keyboards because they care so god damn much.

 

[Nebor]

LOL. 4 to 5 years ago, it was as easy as taking candy from a baby. Get $50,000 of credit card money at zero fees and zero % interest, invest in Treasury Bills making 6% and boom, instant money for free.

Sounds to me like you caused the debt crisis. Dick.

 

[JSt0rm]

 

[Engineer]

Sounds to me like you caused the debt crisis. Dick.

But only a small portion of it!

Those at FW Finance were the heavy hitters taking $500,000 or more at a time! :biggrin:

But I made my money and paid the money owed back and life is well. Not to mention, that I paid my home, that I bought to live in (not an investment) off in 6 years and 8 months on a 30 year mortgage. I didn't overspend my boundary and then just walk away. I was debt free for the last 5.5 years until wife made me buy her a new car and refused to let me pay cash for it!!!


Don't tell her that I'm sneaking in about 4 payments per month right now! :sneaky:


Oh, and as for who caused the debt crisis? Well everyone knows that Home and Garden Channel started and finished the slide with shows like "Flip This House" where everyone and their brother were getting rich by buying homes (at outrageous prices), doing a little work on them and then flipping them for a huge profit in a matter of a few weeks.

Edit: Oh, and "Douche" for calling me a "Dick"!

 

[Lithium381]

yay for the status quo, and polititians not willing to do anything about anything if it risks their reelection

 

[her209]

LOL. 4 to 5 years ago, it was as easy as taking candy from a baby. Get $50,000 of credit card money at zero fees and zero % interest, invest in Treasury Bills making 6% and boom, instant money for free.

Now, rates are so low and free money (zero %) is so hard to come by, it's not worth the effort.

That's what the big banks do. Get 0% interest money from the Fed. Lend it to the Treasury for a percentage.

 

[Engineer]

That's what the big banks do. Get 0% interest money from the Fed. Lend it to the Treasury for a percentage.

I knew that (read that from Zebo and looked it up. Where is Zebo???). Funny how I was called a Dick but no mention of the big banks doing the same, lol! :biggrin: