Credit Card Delinquencies Hit Record

[Libertarian]

NEW YORK (CNN/Money) - Hit by rising gasoline prices, a record percentage of credit-card accounts were delinquent in the second quarter, the American Bankers Association reported Wednesday.

The ABA found that the 4.81 percent of credit-card accounts had payments that were past due by 30 days or more between April and June. That's up from 4.76 percent in the first quarter, which was the previous record. The ABA started tracking delinquencies in 1973.

The ABA also noted an increase in delinquent payments on personal loans, auto loans, home equity loans and lines of credit.

[iamfreeru2]

I believe that is what the PTB want to happen. Drive more people into bankruptcy and remove more of the wealth from the people. The banks want to make it tougher for people to file bankruptcies so they can squeeze people even more.

[charlesa6]

Absolutely right.

[masterduke]

Bloodsucking Ticks is a another name for 'em.
Last year charged off credit card accounts hit just under $63 billion dollars. An all time record.
It will be double that this year.
Check out www.clla.com aka commerical law league of america, these weasels are some of the groups behind the new non B.K. 7, 13 rules for eternal enslavement.

[Ice]

And you haven't seen the worst of it yet.

Does anyone know just how many companies need petrol/oil to produce their products --- Products which will have the extra cost passed on to the consumer??

Like I said, you ain't seen nothing yet.

Stop spending on unnecessary items. Fill your tank ONCE a week if you can get by with that. If you MUST use more then pick 2 days of the week for fill up. If you can squeeze many errands into a single drive -- do so.

Start using your "tools" to the absolute best advantage in order to use less fuel and save money. The less demand for a product, the lower the price for the product. The big oil companies keep saying that they will charge what the market will bear (a lame excuse to gouge us). Let's demonstrate that the market cannot bear what they think it can.

Ice

[masterduke]

Tell that to the poor sap commuting from Fontana (in So. Cal.) to East L.A. a three and half hour trip each way. 135 miles one way. (I knew people who do this because of housing costs)

[Ice]

Well that "poor sap" MUST use what he HAS to.

But even so, he can stop purchasing unnecessary items and curb the use of the auto by making stops on the way home to pick up the necessary items. We all gotta do what we can. I rarely drive. And I moan and groan everytime I see money spent on something that isn't really necessary.

What can I say -- I'm really very careful about how funds are spent. I can do without a potatoe peeler if I have a good knife in the drawer... know what I mean? (A knife is much faster anyway!)

Ice

[2tim215]

Masterduke,

Originally Posted by masterduke

Tell that to the poor sap commuting from Fontana (in So. Cal.) to East L.A. a three and half hour trip each way. 135 miles one way. (I knew people who do this because of housing costs)

I agree with Ice. We have to do whatever we can to fight back. Unless he's already doing it, and you said there are a number of people out there in the same boat as he is, then why not try and set up a car pool maybe? Anything to keep from being milked by the oil barrons. Heck, I'd rather rent a room close to the job instead of paying $30.00 a day in fuel prices even if it means sleeping on a sleeping bag somewhere 5 days a week in lieu of paying $150.00 or more for overpriced gasoline.

Unfortunately, sacrifices need to be made by us all in order to effect the change that's necessary. What I think Ice is suggesting maybe, is that if we make small changes now in our lifestyle, maybe we can avoid the big ones to come. I have already made some changes, in that I am down to one car and do very little (if any) casual driving.

Be blessed,


2tim215

[masterduke]

From Endless Summer to Endless Bummer! You guys are right. With the fall of western civilization, adjustments will be made as the "dionysian" cult strips and steals whatever wealth may be left from the "useless eaters"

[Ice]

Remember that we are viewed as nothing more than "cattle", be angry about that and you will be surprised at how many ways you will think of to demonstrate your true power over those that view us as "cattle".

This is one of the reasons I don't spend funds on unnecessary products. Why should I give anything to a credit system that I object to? Why should I "assist" the banks in raping the wealth of the People? Why should I assist the oil barrons in gouging us?

Let's do everything we can to NOT be a part of the problem and make every effort to be a part of the solution.

Ice