December 26, 2007

And then the debt addicts couldn't pay for their next fix


What the hell happened in America these past few years?

Was it HGTV and MTV Cribs?

Was it rap music switching from ghetto to bling bling materialism?

Was it the general decay of morals and personal responsibility?

Was it the ads?

Whatever it is, it's disgusting, it's unsustainable, and now the whole house of cards collapses. The real interesting thing will be finding out who in the end actually holds the bag (hint - it ain't the junkies)

Unpaid credit cards bedevil Americans

Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.

An Associated Press analysis of financial data from the country's largest card issuers also found that the greatest rise was among accounts more than 90 days in arrears.

Experts say these signs of the deterioration of finances of many households are partly a byproduct of the subprime mortgage crisis and could spell more trouble ahead for an already sputtering economy.

75 comments:

borkafatty said...

I would join in on the game myself..if my credit score allowed me to...see when you Do not use credit!...you have no credit!...so it is a rigged game...

But if i did sky's the limit Alice...I would charge my ass off, and walk away like it never happened..
Free bail outs to big banks...but screw the little guy...well screw you Mr Banker...oh and thanks for all the great stuff!!! Dont call me ill call you...That would be my attitude.

Anonymous said...

I am one of those credit card addicts. I declared bankruptcy in 1986 and then again in 1994 and I am once again falling behind by credit card bills once again. Guess what route I will take? I own the latest electronic gadgets, a new car and lots of other material possessions. The best part is I get to live beyond my means and then go bankrupt and then the next few years are hard and then the cycle repeats itself. If you are a person who saves their money and "saves for a rainy day" then YOU ARE A FOOL! YOU are PAYING for MY LIFESTYLE indirectly that is, and that is why YOU ARE A FOOL.

Anonymous said...

I am once again falling behind by credit card bills once again. Guess what route I will take? I own the latest electronic gadgets, a new car and lots of other material possessions. The best part is I get to live beyond my means and then go bankrupt

Unfortunately for you, the bankruptcy laws have changed since you last filed and you will not be able to walk away from your debt this time around.

Peter T said...

anon 4:45 PM, you are a troll. Go, eat somewhere else, 'cause I won't feed you.

Peter T said...

The house ATM has run dry, the credit card bill cannot be refinanced - endgame!

Malcolm said...

I've always blamed the movie "Wall Street".

It taught a generation of children that money is the most important thing; that it's OK to do anything to get it; and that the ends always justifies the means.

Anonymous said...

Mr. credit card addict...

That works well until you hit 55and you can't find a job.

Edgar said...

Keith, you are wrong, it is sustainable. The PTB are using the scum of the earth to purposely destroy the monetary unit. They will lend to deadbeats over and over again, while your ass slaves away working. The joke is on you chump.

Anonymous said...

Terrible. Whatever shall the poor bankers do?

Anonymous said...

hehe - this has GOT to be a joke - check out current bk rules there mr. responsible - congress made it ALOT tougher for the kind of behaviour you propose. if you can pull it off and your moral compass says cool then i dont know what to say.

brokersleaveyoubroke said...

If you are a person who saves their money and "saves for a rainy day" then YOU ARE A FOOL! YOU are PAYING for MY LIFESTYLE indirectly that is, and that is why YOU ARE A FOOL.

Wrong. The person who saves does not support you, the people who pay 18 to 24 percent on their credit cards support you.
And by the way, if you actually have filed for bankruptcy in the past then you should know that the new car will have to go. Also under the new BK laws you will have to sell everything of value and prove your income is so low you can't afford even minimul payments. If this is true in your case I wouldn't be bragging about it.

Anonymous said...

"I am one of those credit card addicts."

"If you are a person who saves their money and "saves for a rainy day" then YOU ARE A FOOL!"

Hmm. Maybe I/We am/are. We'll see shortly, won't we?

I don't THINK so...

Anonymous said...


I've always blamed the movie "Wall Street".

It taught a generation of children that money is the most important thing; that it's OK to do anything to get it; and that the ends always justifies the means.


I blame the real Wall Street. I don't think many children watched the movie.

Anonymous said...

http://tinyurl.com/36nr6s

Now isn't this great? A life of indentured servitude to pay off unconscionably high property taxes. Note the happy fantastic fun tone of the article. Nobody interviewed seems to think there is anything wrong with this cruel and wicked idea.


Plan Would "Let" Seniors Work to Pay Taxes

[excerpt]

GREENBURGH, N.Y. (AP) - Audrey Davison lives alone, gets a $620 Social Security check each month and worries about the sharply rising taxes on her four-bedroom house. Davison, 76, raised her family there and after 43 years, she really doesn't want to leave Greenburgh.

Greenburgh doesn't want her to leave, either.

The town is pushing a program that would let seniors work part-time, for $7 an hour, to help pay off some of their property taxes.

"People shouldn't have to sell their house, move away to a place with less taxes, leave behind their family and friends," said Town Supervisor Paul Feiner.

[end excerpt]

Anonymous said...

Hello all. No CC debt here. As a matter of fact as a CC holder for 20+ years I still have paid exactly ZERO interest. Why do they still allow me to use their money interest free? LOL. Chime in all.

BeTrue toyourself said...


I've always blamed the movie "Wall Street".

It taught a generation of children that money is the most important thing; that it's OK to do anything to get it; and that the ends always justifies the means.



"You see Bud, the problem with money is that it makes you do things that you don't want to do.." ( As Bud prepares to receive his bitch bracelets).

Malcolm said...

>I blame the real Wall Street. I >don't think many children watched >the movie.

Yes, but at the time it had a major impact on public morality.

It taught that generation (the one who now controls the real wall street), that if you lie, cheat and steal, you can make a ton of money, have sex with Daryl Hannah (well, that was a good thing once), and live in really tacky condos

At the time, many of the people who saw the movie didn't leave with the message "don't steal", they left with the thought "well, I won't get caught"

As far as no one seeing it, it was the #3 movie at the time

http://www.the-numbers.com/charts/weekly/1987/19871211.php

I blame the miserable baby boomers said...

I've always blamed the movie "Wall Street".

Don't you dare blame some stupid hollywood movie on all this.
The most self-absorbed, selfish generation in US history, the baby boomers, orchestrated this mess.

They spent the 60's and 70's doing drugs, free-sex, etc.. Expecting free everything. Then they finally entered the work force and worshipped materialism and consumerism overnight.
After orchestrating bubble after bubble to enrich themselves and dumb down the US economy, they now want to retire in Hawaii or Florida living like Kings, and leave the next generation to clean up the mess. The latest boomer lead bubble was the housing ponzi scheme. Boomers offloading their overpriced real estate to the next generation so they can go retire in luxury.

happy homeowner in the stix said...

Do they still hand out credit card and other loan offers like Halloween candy right at the courthouse?

That always struck me as the financial equivalent of giving away free heroin just outside a drug rehab facility.

Edgar said...

You guys are all wet. The bk rules only affect median incomes and higher. The welfare society gets a free pass on fraud and hundreds of thousands of dollars in loans. Your gubbermint is a criminal organization, designed to kill the middle class.

Anonymous said...

this is unsecured debt. the banks will take it in the shorts for most of this loot. oh too bad. watch me as i cry crocodile tears too. boo hoo hoo.

borkafatty said...

Unfortunately for you, the bankruptcy laws have changed since you last filed and you will not be able to walk away from your debt this time around.

--------------

Well we all know that old saying...you cant get blood from a stone..

Anonymous said...

Anonymous Anonymous said...

I am one of those credit card addicts. I declared bankruptcy in 1986 and then again in 1994 and I am once again falling behind by credit card bills once again. Guess what route I will take? I own the latest electronic gadgets, a new car and lots of other material possessions. The best part is I get to live beyond my means and then go bankrupt and then the next few years are hard and then the cycle repeats itself. If you are a person who saves their money and "saves for a rainy day" then YOU ARE A FOOL! YOU are PAYING for MY LIFESTYLE indirectly that is, and that is why YOU ARE A FOOL.

December 26, 2007 4:45 PM<<<


why do you declare bankruptcy over credit card debt? cc debt is unsecured debt. all depends what state you are in , as far as dealing with this problem. one of the best places to be for this sort of problem is texas. most of the time they won't sue you if you live in texas because all you have to do is show up at the hearing and ask for proof ,etc........anything to gum up the legal mumbo jumbo and cause them delays and legal expenses, plus you can make yourself judgement proof too. its all how you handle it and what you want to do really. when you go into bankruptcy you bring the damn governemnt in on your business. this is a last resort and it is even more of a problem now with the new rules.

Frank@Scottsdale-Sucks.com said...

I had no idea how much hip-hop and rap was corrupting our kids until I saw the crap on MTV one day in the gym and learned that all of the lyrics are about having lots of material possessions without working for them.

No wonder the new generation thinks they're entitled to a big house, hot car, jewelry, etc., without working for any of it.

Anonymous said...

We are witnessing the coming of age of people who were born since the advent of cable TV and MTV- their minds were molded and sculpted by trash.

redboots said...

You HPers seem to have a VERY difficult time getting irony. I'm amazed at how many of you took the 2nd poster seriously. Happens all the time here - someone posts a CLEARLY ironic/sarcastic post, and all of you who can't wait to jump on the high horse pounce with your idiotic responses.

Says a lot about the general level of intelligence here.

And, no. I'm not one of the fucked borrowers you love to excorciate. I'm someone who is intelligent enough to develop his own ideas on most things - I don't mindlessly follow the MSM OR the man behind the blog.

Anonymous said...

SAVINGS HAVE LOST 25 PERCENT OF THEIR VALUE THIS YEAR COMPARED TO MILK, WHAT ABOUT GASOLINE, HEATING AND COOLING AND PROPERTY TAXES, AS BY SOME ACCOUNTS 7 YEARS OF TAXES MIGHT EQUAL FAIR MARKET VALUE, NO MATTER THE PIGS LIPSTICK

GREED & 6% go hand in hand said...

It used to be $300 in credit card debt seemed like concrete shoes as you were sinking into desperation...But these days? $3000 or even $30,000 (Home Eq. Loan) are common debt amounts.I believe this generation has been duped into thinking "He who has the most toys wins" mentality ...no matter that he/she does not really own any of it becaused its all on borrowed dollars.I have come to the conclusion that as long as you owe the man...he OWN'S you. Thats right...just like back in the day when the slaves built for Egypt , you work for the Bank. So how does a person of moderate means make it in todays economy? Only buy what you can really afford to pay off that month...with the exception of your home which should never exceed 25% of your gross. Thanks for the blog Keith...it really does help inform and enlighten as to what is really going on in the housing market. Keep up the good work!

Shakster said...

Merry Goddamned Christmas!!

Anonymous said...

It's the new America. It's all talk, no walk. It's flash over substance. Thanks Madison Avenue and Hollywood. We have been bombarded since childhood with materialism. People fight each other over stupid toys made in China with slave labor. Pimp my ride. Spinner rims, gold teef, easy money. Kids are dropping out of college to play poker. They want it all and they want it right now. The only way out is to hit the reset button. Too bad it ain't that easy

Anonymous said...

Was it HGTV and MTV Cribs?

Was it rap music switching from ghetto to bling bling materialism?
----------------------------

Keith, I think you hit a nerve there. Some other economist has made the connection of "the deteriortion of Art, of music, with the decadence of society."

Never has Art and the music industry been such garbage, and I dont even know most of the names of these supposed "rappers" or singers. Its interesting that back in the seventies and eighties it was all about the tempo, the melody and the beat of the music. Now, its not about that. Its about what latest orgy Britney Spears attended or 50 Cents latest incarceration stint.

The point I'm trying to make is that society is no longer about responsability, about conformity and appreciation of the Arts. Everything today is "IN YOUR FACE". Its all about "SHOW" whether it be the bling bling of the latest rapper or the bling bling of your maxed out HELOCED neighbor who has to drive the giant Escalade.

So how do you finance all this CRAP, whether it be cRAP music or the in your face plasma Tv or the Giant Hummer.

Easy. Just charge it up and forget about the consequences. And it seems to me that Troll anon 4:45 most of America shares that philosophy.

Dootsen said...

I use a cash back credit card for everything and pay in full every month. Not only is my spending itemized and organized automatically with each statement, but I get free money back from the chumps paying interest on their minumum payments. This I love,I kid you nor.

Daphne64 said...

Almost everything in the media is oriented toward getting us to spend. All but one or two TV shows have characters that have no worries about money. Ditto movies.

Our government issues press releases that clearly indicate they want consumers to spend more. My bank statements frequently include helpful little notes encouraging me to go on vacation with the proceeds of a home equity loan. (Thanks, but I used the proceeds to buy bullion, thank you very much).

By contrast, in WWII, there were billboards that had messages like "was this trip necessary?"

I am wondering what the cold hard stats on credit card debt are these days. You know "Americans had X trillion dollars rolling over from month to month. X million accounts are at least 30 days overdue. X million accounts are at least 90 days overdue. It would help me guess how close we are to the s___ really hitting the fan.

ugh said...

J6P and the bankers are both going to get it.

Without vaseline.

Anonymous said...

I wonder if there might be a credit card reform act that includes liability for credit card issuers that provide excessive, nodocumentation credit to dead beats. Make the banking credit card profiteers joint tortfeasors to stand suit when they provide credit to fruadsters just like holding the sub-prime home loan buket shops liable for morgage fraud.

Trial lawyers are standing by to take your calls!

TM said...

4:45 PM,

I like the idea of the three BK'd credit junkie trying to defend his actions, but you failed to create a convincing character, mainly I think because there wasn't a genuine sense of self-entitlement and justification to the post.

I would do it this way:

You can call it a problem, but I don't. Credit card companies are greedy and stupid, so I feel pretty good taking their money and shafting them. I've declared bankruptcy twice already, and they still give me credit! So yeah, I have nice stuff and enjoy the finer things in life, but I don't understand what you losers are so upset about... it's not your money. You could do it too, if you wanted, but you're not smart enough or don't have the balls for it like I do.

Enjoy your meager lifestyles

gecko said...

GREED IS GOOD

GREED PURIFIES

I for one can't wait for this collapse to start, long over due in my book. I'm shorting everything!

randy said...

Remember the rest of the world is just a little slower then we are.
Hence both good and bad developments lag us.

What is about to happen in Europe will make our issues look like a breeze.

Anonymous said...

I work as an HVAC technician, so i travel around a lot during the day. Today i noticed, even as the local Phoenix housing ATM has crashed....the sheeple were out and about in their SUV's, headed to all the shopping malls to feast on after Christmas sales...it's really sickening to watch. And guess what, when the bill comes due...guess who is paying for it....you guessed it. I say revolt, overthrow the government, and start over.

Anonymous said...

What is about to happen in Europe will make our issues look like a breeze.
-----------------------

What nonsense. Europeans are not as debt ravaged as Americans. They save much more. They're not plastic addicted like the US. I challenge you to find Hummers, Escalades, lining up the avenues in Paris. Guess what, they're not there. Cars are economical there just like their thinking is economical.

Europeans (e.g. French, Spanish, Germans) are not really into materialism like the US. That doesn't mean that they're not self indulgent. They are, but in the sense of huge vacations (Europeans average out to 6 weeks vacation a year and Americans get what, 6 days?), Europens also like partying with friends and family, watching soccer and living it up.

There may be a housing bubble in England (and the repercussions will be severe there) but England has always seen itself separate from mainland continental Europe (and therefore think differently).

So it may soothe you to think Europe will have a big downfall like the US but it really is stupid and disingenuous to compare the two. Stupid Retard American!

Anonymous said...

Anon 12:01
Americans, on the whole, work harder than Europeans do and pay less in taxes. Europeans are stupid and overrun by Muslims anyway. That's the only real money there.

happy homeowner in the stix said...

I challenge you to find Hummers, Escalades, lining up the avenues in Paris. Guess what, they're not there.

Well, duh....you can't park one of those things on those narrow streets, so why would you want one?

Trust me, not everyone in Europe drives a boring little econobox. Their expensive cars are just smaller and sportier.

Vectorz said...

Wrong. The person who saves does not support you, the people who pay 18 to 24 percent on their credit cards support you.
And by the way, if you actually have filed for bankruptcy in the past then you should know that the new car will have to go. Also under the new BK laws you will have to sell everything of value and prove your income is so low you can't afford even minimul payments. If this is true in your case I wouldn't be bragging about it.


=================================

I have a buddy in Chicago who purchased almost 10 condos back in the heyday and recently filed bankruptcy. After finalizing the CH7 he was somehow able to keep his 2003 SL500 that he obtained through "equity" on those condos!

WTF! There is no justice. In any case, it appears you are wrong. These FB's are getting away with murder and my buddy is proof.

Anonymous said...

This is approximately a one hour video by the BBC accessible on the "Naked Capitalism" blog-site that is very interesting. It discusses the conversion of Americans/humans from rational humans into consumers. It also discusses the 20th century as the century of self. Particular interesting is the use mass psychology in controlling the public.

Its worth a look!

http://tinyurl.com/2ejnfk

Anonymous said...

"It taught that generation (the one who now controls the real wall street), that if you lie, cheat and steal, you can make a ton of money, have sex with Daryl Hannah (well, that was a good thing once), and live in really tacky condos"

You forgot to mention the super cool wireless telephone the size of the Chicago phone book...

Smug Bastard

i've had it said...

It is common knowledge here in America that Europe will soon be finished as a Western civilization. With socialism, feminism, and Islam the driving forces today (which limit white births and increase muslim births), it is only a matter of a century or less that Europe turns into EurArabia. In fact, this past week, it was reported that Mohommad is the most popular name for baby boys in the UK...that says it all.

And, with the housing bubbles in the UK, Spain, and elsewhere, the European economies will fall like dominos. So, go ahead and laugh you miserable, unappreciative European...your days are numbered. And don't expect us to let you and family in when you realize its time to bail out of EurArabia -- it'll be too late...you will stay right where you are and learn how to pray five times a day while facing Mecca and go to mass demonstrations and shout Allahu Akbar.

You Europeans are simply morons. Bye, bye.

Anonymous said...

To Anon 12:13

Wrong. Americans pay way more taxes the difference being we dont get anything for it.

Europeans get universal healthcare
Americans get Zero! Nada. Nothing. (illegals get the free coverage)

Europeans get maternity leave! In Sweden its 2 years! Thats tax money being put to good use. What maternity do you get in the US.
The US gets ZERO mandatory paid maternity. Unbelievable!

You say Europe is over run by Muslims. So what. American has been invaded and taken over by Mexicans, who by the way are the ones who benefit from the tax money you idiots give out, like free medical, free schooling, prison incarceration, etc. etc. And it runs into the billions and billions of dollars hard working AMericans, as you say, who are lucky to even get a week vacation.

Makes no sense to be hardworking for a foreign country (Mexico)while your life passes you by.

Thats the reason the owner of this blog left for Europe. He's got a brain. (unlike You!)

sigmarick said...

I dont think its fair to blame hip hop
the genre can be blamed for a lot and yes materialism is rampant but greed and materialism predates hip hop. The banks and those who invented bogus securties and the housing fraudsters have very little to do with hip hop.

TM said...

"What nonsense. Europeans are not as debt ravaged as Americans."

Silly silly man. European people are not debt ravaged, but European companies are, and have drank deep from the fountain of securitized American debt.

The European central bank is pumping euros out as fast as it can to keep European banks from collapsing. So, yeah, Europeans tend to be much more frugal than Americans (admirably so) but they have a sh#t-storm blowing their way, make no mistake about that.

Anonymous said...


There may be a housing bubble in England (and the repercussions will be severe there) but England has always seen itself separate from mainland continental Europe (and therefore think differently).


May be a housing bubble in England? Hey idiot, the English have a bigger housing bubble than the USA. The Spanish and Italians have a bigger housing bubble than the English.

Anonymous said...

Anonymous redboots said...

You HPers seem to have a VERY difficult time getting irony. I'm amazed at how many of you took the 2nd poster seriously. Happens all the time here - someone posts a CLEARLY ironic/sarcastic post, and all of you who can't wait to jump on the high horse pounce with your idiotic responses.

Says a lot about the general level of intelligence here.

And, no. I'm not one of the fucked borrowers you love to excorciate. I'm someone who is intelligent enough to develop his own ideas on most things - I don't mindlessly follow the MSM OR the man behind the blog.

December 26, 2007 7:33 PM<<<


i beg your pardon?

Anonymous said...

I went to Starbucks today and there were 2 people in front of me in line. People don't drink Starbucks in a recession. Some crash?
.
.
.
DOPES

Anonymous said...

To all you Morons who think America trumps Europe.

1. Continue to see your worthless Dollar fall to the Euro. (you cant even come over here for a simple vacation cause you cant afford it

2. Continue to work your 80 hour work week for 52 weeks out of the year so an illegal alien from Mexico can use your tax supported dollars to go to the hospital, give birth to an illegal anchor baby and send them to school at YOUR expense.

3. You say Europeans arent reproducing, that we'll be MUSLIM, okay look at CIA world fact info- easilly available online. Muslims at MOST represent 10% of the European population.

How does that compare to 50% plus Latino population invasion you have in the US. Your country isnt even recognizable. Last time I was there, I couldn't believe what I saw in Los Angeles (a third world sh!thole that looked like Tijuana)

3. Your President is the laughing stock of the world cause he cares more about illegal aliens than he does his citizens (thats YOU GUYS)

4. Why dont you guys wake up and smell the Mexican coffee. Foreclosures, plummeting house values, Bankruptcies, credit card debt, and the illegal invasion will be the devastation of America.

You'll have to excuse me, tomorrow Ill be planning my holiday (one month vacation) on my two hour lunch break. You guys can go ahead and continue working your 80 hour work week so you can support Mexican illegals.

Anonymous said...

The Muslims hordes benefit from the generous social welfare of the Eurotards. They're burning down France, raping Eurotrash women, and openly calling for Islamic law in Europe. The main beneficiaries of the Eurotard welfare system is the Muslim hordes. They are outbreeding the French 6:1 and the British 4:1

At least the Mexicans are capable of integrating. The Muslim hordes are there to conquer all of Europe.

TM said...

"Europeans are stupid and overrun by Muslims anyway. That's the only real money there."

What an inconvenient form of currency!

Customer: May I have Le Big Mac Meal?
Cashier: That'll be 4 Muslims, please.
Customer: Damn it, I only brought 3 with me. Quick, Abdul, run out and grab Fatima from the car. I need her in here with the rest you.

Anonymous said...

Instead of whining and crying about how life is so unfair. Why don't you folks do what I did. I ran up my credit card bills and guess what? I got even more offers in the mail. I maxed those out too and I bought lots of stuff. I bought a 60 inch flat screen lcd hdtv, a state of the art sound/theater system, the latest computer from Dell and another one from HP and I have massive lcd monitors, and all sorts of cool gadgets from Sharper Image. Now, I will just default on my debt. I will go laughing all the way to the bankruptcy court. What is the worst that will happen? What, they will send me to debtor's prison? Let's face it, the party is about to be over, but at least I had a great time and I have lots of cool stuff too. And I didn't pay for it, but fools like you who worked hard and saved their money did.

Anonymous said...

anon 4:45 pm

don't you worry. your time will come. when you get old and feeble and can no longer get a job, you'll become poor for the rest of your life and no one will bail you out.

Anonymous said...

congrats if you rack up the credit cards and walk away. i used to think living in ones means is the way to live, but i see the way those really do live it up better on the debt wagon. then go bankrupt and walk away. plus, its an unsecured loan. maybe when the whole system breaks down it is better to have been in debt than be a big saver and see inflation/falling dollar eat away all that foolish saving! live it up!

eric in vegas said...

"After finalizing the CH7 he was somehow able to keep his 2003 SL500 that he obtained through "equity" on those condos!"

Who cares? European luxury cars are money pits once they're out of warranty. If he was smart he'd sell it and buy a new Toyota that won't break down on him.

Anonymous said...

I am an American living in Europe, in Poland and real estate has softened here in the east after booming beyond the affordable wage. Once it hits hard in England, Italy, Germany and Spain, it will come east. Bulgaria has had a lot of speculation as has Romania. It will not end nicely. I am debating whether or not to leave sooner rather than later. In the meantime, I will be watching very closely.

Platinum Masterbaiter Card said...

When I went to college, I had to live off my credit cards to a certain extent. I also had 2 part-time jobs to help pay for my expenses. On top of that were the student loans that I took out to cover the difference and I worked full time all summer to sock away enough cash to offset the opportunity cost of going to school for 9 months a year.

So as much as credit cards suck, I was very glad I had them when I did.

I remembered looking at those interest charges and the total balances thinking I would never be able to pay them off. I did though and since that day I have never kept a balance on any credit card. It just got too depressing to think about how much I was paying yet never getting out of debt.

Now I feel like a sucker for paying them off. That goes for the student loans that I paid off. I should have just walked away from all that debt. Too bad I have some moral fiber because I could have been sitting on easy street instead of in this 2 bedroom apartment with leaky windows.

There comes a time in every person's life where they have to reflect on the deeds they have done. It may come very late in life but it always comes. Some people are just better at deluding themselves that they have always led a moral life and are rabidly convinced that no house is cleaner than their own.

I fear that America has ceased to exist and that a chance of recovery is so far removed that it may be time to declare this country brain-dead and pull the life support.

America is dead!

Long live America!

Anonymous said...

May be a housing bubble in England? Hey idiot, the English have a bigger housing bubble than the USA. The Spanish and Italians have a bigger housing bubble than the English
--------------------

Oh. Now I know why the Euro is doing so poorly against the dollar (sarcasm)

If only you guys knew something said...

Boy--can you guys read some data for a change: You guys say:

There may be a housing bubble in England (and the repercussions will be severe there) but England has always seen itself separate from mainland continental Europe (and therefore think differently).


May be a housing bubble in England? Hey idiot, the English have a bigger housing bubble than the USA. The Spanish and Italians have a bigger housing bubble than the English.

No. Check out some data. The europeans save and their currency is strong--note to ignorant eruo has climbed 50% relative to U.S. dollar. Credit card debt is about 20% of that in the U.S. and yes companies are indebed but thats the way firms work in modern capitalism. Central bank has been pumping money to offset the weakness of the U.S. Muslims as a percentage of poulation are much lower than that of Illegals and blacks in U.S. Also, euro area understates GDP and U.S. overstates it. You guys (U.S) are so smart and you get 2 weeks--ha, ha, ha....enjoy your cubicle. Seriously, check out data from world bank and OECD. Bubbles are large in England--the rest of europe its just in resort areas. Will the brits be as hosed as u.s.--yep. Europe (England is an Island and not part of Europe and since you went to American high schools thought you might want to know that) will be fine and like the asians we will have to bail out your sorry, ungrateful and ignorate fat wal mart shopping butts out of the sling.......

Anonymous said...

My In-Laws just filed bankruptcy for the 3rd time. This time under the new BK laws. I don't know what has changed? They got to keep their house, his over-sized lawn tractor that had a loan, all their new furniture that was financed, his ATV that was bought on credit card, and boat that was financed on a credit card. The one thing the judge made them get rid of was their 5 year old cars--- the judge told them to go buy new cars the day after the BK was discharged. Of course a car dealer was more than willing to sell them two new cars.

Anonymous said...

Any good websites for people wanting to bail on their credit cards? How to do it, repercussions, moral consquences?

The non-marriage website was interesting.

Good stuff here.

Lovethatchimp said...

Unpaid credit cards bedevil Americans

Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.
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Its the Conservative Republican dream. Borrow & Spend.

Anonymous said...

Now I feel like a sucker for paying them off. That goes for the student loans that I paid off. I should have just walked away from all that debt. Too bad I have some moral fiber because I could have been sitting on easy street instead of in this 2 bedroom apartment with leaky windows.

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That's what I did. Walked away from about $45K in student loans. My credit was shot but I didn't care. I was in my mid-20s, made good money and didn't really need any credit. It was actually a good thing since I lived within my means and save a lot. Within 5 years my fico was back up over 700.

Anonymous said...

"At least the Mexicans are capable of integrating. The Muslim hordes are there to conquer all of Europe."

Come to California for an example of how the illegal alien felon Mexcrement have "integrated". Start at any Home Depot store parking lot and then move over to view the public hospitals for a wonderful look at how Mexicans 'integrate'.

Put out a bounty...

Pete said...

>>>So how do you finance all this CRAP, whether it be cRAP music or the in your face plasma Tv or the Giant Hummer.

Easy. Just charge it up and forget about the consequences. And it seems to me that Troll anon 4:45 most of America shares that philosophy.<<<

It is not surprising that the barely educated masses would behave so selfishly and irresponsibly, but you would expect the MBA's who run our banks and brokerages would do a better job assessing risk and watching out for their investments. A lot of so-called smart people put up a lot of their money to finance this consumer lunacy. I really don't care if they have to take losses.

i've had it said...

You Europeans are as stupid today as you were in the 20th century (in which you also claimed the title of the most vicious civilization to exist in the Universe and for all time). Ever since you've been praying to your God Karl Marx and his idiotic socialist ideas, you really haven't done anything useful for the world.

You have negative white population growth; you have extremely high positive muslim population growth. You are simply living in your Euro-fantasy land to not understand that you are finished as a Western civilization. You discriminate against your minorites; you don't integrate them. And the muslims actually don't want to be integrated. They want to take you over...and they will.


It is a death spiral from which you simply can't escape. It is simple math and it is clear that you know nothing about how to calculate simple formulas...a result of your lousy education system and the fact that hardly anyone there goes to college since that's just reserved for the so-called elite (actually you're all a bunch of dumb shits who couldn't get into university even if given the chance). Once the muslim birth rate hits the inflection point of the population slope line (i know you don't even know what that means) the pace of anglo/white disintegration will happen in a twinkle before your very eyes. For short-sighted Euro's like you, it's not something that's in your comprehension to understand. Why? Because you live for the day...you live for your 6 weeks vacation that are subsidized by large companies and central bank printing presses. You are rapidly disappearing; Sweden, Italy, Germany, UK, etc. are going away. Americans know that and the Muslims know that too. Just listen to them in your own countries. Just look at their riots in France. They know you are finished and it's just a matter of 100 years or so. Not that you really care, because all you care about are your petty vacations and your ability to take others' money and spend it on yourself, as well as spending your time castigating the country, America, that set you free so many years ago...you unappreciative, back-stabbing asshole.

We may have an illegal alien problem but we are going to get rid of them. And those that do manage to stay will be integrated since they are Christian and have the Western philosophy and tradition. Can't say that about your Muslims, who openly seek to destroy you (and all you Eurotrash do is cower in fear).

As far as the Euro goes, thank goodness some other currency is out there competing with the dollar. I never liked the idea that people outside the U.S. were walking around paying things with our currency. Plus, our exports are coming back. And since you can now come over here (I see your ugly faces all the time now), you can spend, spend, spend, and act like the ugly Americans you so love to hate. You have become us. Congratulations.

But still, at the end of the day, the Muslims will win and you will be praying to Allah.

Bye, bye Europe. It was good to know ya (...not really, you vicious bastards)...

Anonymous said...

My In-Laws just filed bankruptcy for the 3rd time. This time under the new BK laws. I don't know what has changed? They got to keep their house, his over-sized lawn tractor that had a loan, all their new furniture that was financed, his ATV that was bought on credit card, and boat that was financed on a credit card. The one thing the judge made them get rid of was their 5 year old cars--- the judge told them to go buy new cars the day after the BK was discharged. Of course a car dealer was more than willing to sell them two new cars.

If your In-Laws were smart they woulda had the cars financed with credit cards also. Oh well, learn something new each go around... maybe they will try that 7 years from now.

Anonymous said...

How else can you legally profit from another person's character flaws?

Own a credit card company, a gambling casino, a liquor store and cigarette stocks.

Hoof Hearted said...

1:33PM said:
"Muslims as a percentage of poulation are much lower than that of Illegals and blacks in U.S."

Uhhh...the Black people in America are Americans, you shit sock.

Anonymous said...

Paid faithfully for years, my credit cards. Until I lost my job, then when I couldn't pay my credit cards those same bankers that loved me when I was paying on time, basically threw me under the bus. So I walked away,
$20k away, screw them all, those rat kissing, bat sh1t eating, bankers.

Anonymous said...

To the Europeans who read this thread and think they know-it-all on race relations. In America, all fair-skinned people, whether they're from the Mediterranean, eastern Europe, or yes, even the middle east, become "white" Americans within a single generation. True, they can separate themselves based upon some belief that they're special, kinda like certain Armenians from Anatolia, but on the whole, most people do not stay "other" for too long.

The forces of integration are very strong in America. Likewise, the darker-toned Americans tend to congregate along the various Caribbean subcultures within the nations like Creole/Haitian, Puerto Rican, etc. You see, America is decades ahead of Europe on how to build a nation of various peoples.

Europe, on the other shoe, will splinter once the idea of the EU is acknowledged as a failure. The Germans are still Nazis and unlike America, where a third of the white population has some Slavic ancestry w/o a separatist movement to create a greater Czech-Hungarian-Polish-Lithuanian homeland bloc within US borders, Germany, on the other hand, wants to separate themselves from the French, Italians, and Slavs and only want the Dutch, Swedes, and Danish within their territories, a.k.a Nazism. My, how things have not changed since the great war.