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11-13-2008, 04:42 PM
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#1 |
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Let's do another U-turn
Join Date: Feb 2008
Location: Indiana
Moto: 2009 V-Strom
Posts: 3,816
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Consumers don't get bailed out
Gee, why am I not surprised. Let's bail out big business that's "too big to fail," but force the general public to pay debts they can't afford.
http://news.yahoo.com/s/ap/20081113/...n_credit_cards |
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11-13-2008, 04:50 PM
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#2 |
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Moto GP Star
Join Date: Feb 2008
Posts: 12,156
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Did you see that some banks are now reducing peoples credit limits on their credit cards? I read one case where they reduced the limit for $10,000 to $2,500.
I think it's a good thing actually. It will make people more fiscally responsible for their over spending. Last edited by Rider; 11-13-2008 at 04:53 PM.. |
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11-13-2008, 04:51 PM
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#3 | ||
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Hold mah beer!
Join Date: Feb 2008
Location: 80 Miles South of Moto Heaven
Moto: 08 R1200GS
Posts: 23,268
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I agree down with credit cards! God forbid people actually have to be conservative with their spending.
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11-13-2008, 05:15 PM
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#4 |
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Custom User Title
 
Join Date: Nov 2008
Location: Central NY
Moto: 2003 SV650S
Posts: 14,959
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Anyone remember that days when if you couldn't pay for it you didn't buy it?
hmmmmmmmm....
__________________
I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away. |
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11-13-2008, 05:21 PM
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#5 | |
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Crazy like a fox...
Join Date: Nov 2008
Location: WA
Moto: 05 R6
Posts: 76
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11-13-2008, 05:27 PM
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#6 | |
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Custom User Title
Join Date: Nov 2008
Location: Central NY
Moto: 2003 SV650S
Posts: 14,959
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Quote:
Neither am I. It wasn't that long ago
__________________
I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away. |
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11-13-2008, 05:23 PM
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#7 |
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White Trash Hero
Join Date: Mar 2008
Location: NW Arkansas
Moto: Buell 1125R Porco Rosso Edition
Posts: 4,895
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The consumers already have an out for their credit card debt...Bankruptcy. Still won't help the situation because it only creates another segment of the population that can't borrow to purchase goods and stimulate the economy. Lord knows incomes haven't gone up enough to operate the economy sans credit so...
Foreclosures are up 25% from last year, i am betting a simialr increase for bankruptcies. There is going to be a whole new lifestyle coming...For the haves and have nots...
__________________
 Arkriders.com To be the best you must first be willing to risk the worst! |
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11-14-2008, 08:21 AM
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#8 | |
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Community Curmudgeon
Join Date: Nov 2008
Location: Tallahassee
Moto: '04 F4i
Posts: 373
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I am still living those days. Debt is Bad. Stay away from debt
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Alcohol, Tobacco and Firearms should be a convenience store and not a government agency If You Don't Know What Your Rights are...You Won't Have Any |
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11-13-2008, 07:30 PM
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#9 | |
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Woolly Booger
Join Date: Nov 2008
Location: FL
Moto: Anything
Posts: 76
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Quote:
Doesn't matter to me. We haven't used the card for 3 years since we started the business and are on the way to pay it off soon.
__________________
http://www.anmsafetycourse.com Learn to Ride, Get Endorsed! If loud pipes save lives, imagine what learning to ride that thing can do! 
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