what do you think will happen to people who have big debt?

Discussion in 'General Discussion' started by CANDY fISHER, Feb 16, 2011.


    CANDY fISHER Monkey+

    I know so many people who are maxing there cards out on vacations and crap. no stocking just being foolish. one gal said she would owe until she died.
    Im done with credit cards, and paid the last one off this week 4 off last year. Im done and only use cash now. well my check goes into my bank, but I take it right out also.Im just wondering how the banks can get there money back, or if they will bother?? or will they take those big debtors and lock them up?
  2. Capt. Tyree

    Capt. Tyree Hawkeye

    No Simple Answer to Credit/Cash/PMs

    It's always good to be debt free. One can be flexible in action as well as more easily focused on immediate concerns when there's no financial debt hanging over your head.

    There are examples where having large debt in effect before inflation occurs makes it easy to pay off a set-price mortgage with cheaper dollars. That is so only if the "rules" haven't been changed by the bankers to pre-empt such a situation, and you continue to have a job producing more inflated dollars. No doubt there will be a time window before such contractual alterations occur, but the debt masters never let such things slide for too long.

    For now, use credit when you can, but pay it off quickly. Save your cash for transactions that are best accomodated by it. Accumulate more cash for more such transactions; build your food storage; acquire a means for water storage and filtration; maintain a means of self-defense; have a back-up plan should you need to leave your present location; and build a modest store of precious metals----more elaborate if you can afford it.
  3. Equilibrium

    Equilibrium Monkey++

    What are your thoughts on insurance companies>>>? Will they remain solvent or do the "debt masters" have them factored into the master plan like everything else?

    CANDY fISHER Monkey+

    but if I use credit and pay it off quickly then Im just using my cash as fast to pay off debt. I have worked to get to debt free for so long, I will never again have a card.
    Im trying to get all my grocerys in, I have much to do but am making head way. I believe by April I will have a full year of foods and maybe more. I pray I have time!!
  5. SLugomist

    SLugomist Monkey++

    indentured servitude until debts cleared.
  6. UGRev

    UGRev Get on with it!

    The biggest underlying reason for the need of insurance companies is inflation. As the cost of everything rises and the rate at which items rise in cost is, in effect, un-matched by your wage increases.. well, how else do you pay for emergent issues in your life? I bet a lot of things, if the dollar wasn't devalued at all, would take you 1/20th of the time to pay for compared to todays dollars and even that guess is probably an underestimation.

    It was all a scam to increase money flow and supply as the reserve currency and using falsely inflated (in purchasing power) dollars to buy goods and services. Leeches do what leeches do... they saw the opportunity to make money off it and there you go...
  7. BAT1

    BAT1 Cowboys know no fear

    When those people lose it all they will 'lose it'. They will become zombies.
  8. Hispeedal2

    Hispeedal2 Nay Sayer

    From a dude that has been debt free for some time.... crazy. I can't imagine living like some people.
  9. VHestin

    VHestin Farm Chick

    When we had TV, mom liked to watch Suze Orman and they had this one gal as a guest who was just totally stupid about money. She'd rather be in debt to the point of having to declare bankruptcy and ending up on the streets than change her spending habits and give up all her crap. She knew they had financial troubles but just wouldn't do anything about it.
  10. MARIA

    MARIA Monkey+

    I know they will be broke, and I know there going to be in trouble stocking wise, but what about government wise? I wonder what the government will do to those who owe a large debt to banks for credit cards. I think thats a good question.
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