July 29, 2006

Charge It


In “Hamlet,” Shakespeare's Lord Polonius said, “Neither a borrower nor a lender be.” Today's consumer philosophy is closer to the 1980s bumper sticker: “He who dies with the most toys wins.” Polonius would be laughed out of the home electronics superstore.

14 comments:

Anonymous said...

"Charge it."

Does joe sixpack have any other choice? ;)

nope said...

Not if Joe Sixpack wants a brand new SUV and 2000 square foot house on a non college graduate income.

Mark in San Diego said...

A quote from another article on student loan debt:

"If you look at the way financial transactions are structured these days, the likelihood that you'll ever pay them off is slim," said John Lamb, co-author of an upcoming edition of "Solve Your Money Troubles."

"People have just come to accept that they'll have a certain amount of debt that will be with them forever."

Comment - this is the way it will come down - some people will loose their homes outright via foreclosures, but the majority will stretch loans out till they die, and the kids will sell the house and take the proceeds and if they are lucky, have a nice dinner at Olive Garden.

Anonymous said...

house

of

cards

Anonymous said...

more like , "house of credit cards"

GringoLingo said...

This article illustrates the HUGE problem we as a nation face. Personal responsibility has become a forgotten idea, and delaying gratification an unheard of sacrifice. Sadly we all will suffer the consequences of people's poor choices. Some will suffer more, some less but all will feel the pain.

Hasta luego

oldboy said...

Holy Crap! Newsflash! People have a lot of credit card debt. Alert the National Guard. Thanks for the heads up Keef.

How many articles do you see like this every week? They'll file for bankruptcy and that will be it. End of story...Big woop

Anonymous said...

In “Hamlet,” Shakespeare's Lord Polonius said, “Neither a borrower nor a lender be.”

Umm, me thinks the Bard copied that from the Bible.

Anonymous said...

The next step is easy to predict. People without any debt will be penalized and/or treated as trouble makers by politicians who want to suck up to the payday loan crowd.

Anonymous said...

My comment to the majority of idiots in this society,

"LIFE IS NOT A FASHION SHOW, TRY TO GROW UP"

Anonymous said...

BK? I thought the laws were chnaged and now you just can't walk away from your debt that easily. Any BK attorneys care to comment?

Anonymous said...

In “Hamlet,” Shakespeare's Lord Polonius said, “Neither a borrower nor a lender be.”

Umm, me thinks the Bard copied that from the Bible.


This is not from the Bible. The idea that it's from the Bible is some sort of urban legend.

Anonymous said...

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Anonymous said...

:BK? I thought the laws were chnaged and now you just can't walk away from your debt that easily.

It's a means test so that if one loses one's job and doesn't have enough income to go on a payment program (Chap 13 way) then they are still covered under Chapter 7. The problem is that many will lose their jobs and be in this situation.