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eg8r
06-30-2011, 07:09 AM
When you are so deep in debt that you cannot pay your bills, do you seek out more credit so that you can take advances on it to pay your bills?

eg8r

Gayle in MD
06-30-2011, 07:46 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">When you are so deep in debt that you cannot pay your bills, do you seek out more credit so that you can take advances on it to pay your bills?

eg8r </div></div>

You should ask someone from the right, Ed, they are the ones who borrowed the US into the ditch!

If you're referencing raising our debt level, Repiglicans are putting the whole country at risk with their obstruction.

First, they put us into a debt ditch, then blocked everything that would help us to get out of it, and now, they are creating a situation that will really bring all of the creditors Bush and the Repigs borrowed from, for eight years, (China, and others)in a situation which will be bad for our country, since Repiglicans don't really want a recovery, as they themselves have stated, they ONLY want to make this president a one term president, which, any idiot can tell you, means they do not want a speedy recovery, which would blow their chances for more power, away, and hence, they have blocked and filibustered the recovery as much as they could.

They "Think" they can block raising the debt levels, which would only create much higher interest rates, and cause us to lose even more money, than they already lost with their wrring and borrowing and spending, by having to pay more for the debt, they ran up.

But they are quite wrong, since the majority of Americans, know that George Bush, and the spendoholic Repiglican, blank check majority, spent and borrowed us into oblivion, and created the whole debt problem in the first place.

Hence, if you want to know about debts, ask your buddies on here, they are the ones who keep voting for the guys who create most of our debts by warring, cutting taxes, giving away loopholes, losing jobs, and vote them back in, over and over again, only this time, Repigs have to please the same bunch of idiotic Tea Partiers they have bamboozled into believing that "The Deficits don't matter" so they would rather bring down the whhole country, than to setp up to the plate, and do their jobs, which means, COMPROMISE!!!! (How'd you like those caps?? /forums/images/%%GRAEMLIN_URL%%/grin.gif)

Amazing, they spend us into a debt ditch, then they refuse to do anything to help us get out of it, and worse, refuse to raise taxes, even RR wan't that stupid, ( BTW RR raised them elevenn times!!!! I thought it was six, but it was eleven times!)

/forums/images/%%GRAEMLIN_URL%%/grin.gif /forums/images/%%GRAEMLIN_URL%%/laugh.gif /forums/images/%%GRAEMLIN_URL%%/crazy.gif

When you are so deep in debt that you cannot pay your bills, do you send out a message to your creditors that you'r going to default on payments????

ONLY the REpiglicans could come up with this mess!

PIGS!

eg8r
06-30-2011, 08:23 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">You should ask someone from the right, Ed, they are the ones who borrowed the US into the ditch!
</div></div>Why can't you answer the question? Is it because in your personal life you would consider it ridiculous to go seek more debt to pay your current debt?

eg8r

Gayle in MD
06-30-2011, 08:39 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">You should ask someone from the right, Ed, they are the ones who borrowed the US into the ditch!
</div></div>Why can't you answer the question? Is it because in your personal life you would consider it ridiculous to go seek more debt to pay your current debt?

eg8r </div></div>

Are you that uninformed that you think you can compare how a Government operates, to how an induvidual family operates?

Hey, when you're in debt, you don't spend money on things that don't work, which is what Repiglicans do.

Tax cuts, and loopholes, raise the deficit.

If that makes sennse to you, then there is no reason to communicate about it.

But then, you guys are the ones who bought into the Mushroom Clouds, and "The Deficits don't matter."

The latest polls show that most folks know where our mess came from, Bush/Repub policies, and Banks and corporations that took advantage of the Repiglican philosophy of no regulations, and no oversight...

eg8r
06-30-2011, 09:48 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Are you that uninformed that you think you can compare how a Government operates, to how an induvidual family operates?
</div></div>Why can't you answer?

eg8r

Gayle in MD
06-30-2011, 10:09 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Are you that uninformed that you think you can compare how a Government operates, to how an induvidual family operates?
</div></div>Why can't you answer?

eg8r </div></div>

I did answer, you can't compare the full faith of a Government, to personal family finances.

Additionally, there is no constitutional remedy comparison between family finances, and the assurance of the United States Constitution that all debts will be paid in full.

Again, you compare apples and oranges, and again, I point out to you the absurdity of your comparison.

Do you think when a person owes money, it is in their best interests to indicate to their loaners, that they just might stop making their payments???? because some family members don't want to honor their commitments?

If your father owed money, do you think you'd be doing him a favor to get on the phone and call up his creditors, and tell them that due to family disagreements, he might just stop making any payments?

You are the one making these sorts of comparisons.

Does it make any sense to you for a government, to lose trillions in revenue, by giving away our tax dollars to CEO's who are outsourcing our jobs, and hiding their money in the Islands, so that they can destroy the very Middle Class consumers that drive our economy?

Do you think Repiglicans are acting responsibly by making the markets, and our lenders, nervous?

G.

eg8r
06-30-2011, 10:17 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">If your father owed money, do you think you'd be doing him a favor to get on the phone and call up his creditors, and tell them that due to family disagreements, he might just stop making any payments?
</div></div>Talk about comparing apples and oranges. You are completely changing it up. Why don't you want to answer the question? When you are to the point that you might not be able to make the payments do you seek out more credit to pay the debt you already have?

eg8r

eg8r
06-30-2011, 10:19 AM
Due to Gayle's desire to participate yet refuse to answer the question I guess we can count her out at this point. Any other lefties willing to offer an answer?

This isn't rocket science, if you are so laden with debt that you might not be able to make your payments do you seek out more credit to pay the debt you already have?

eg8r

Gayle in MD
06-30-2011, 10:29 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">If your father owed money, do you think you'd be doing him a favor to get on the phone and call up his creditors, and tell them that due to family disagreements, he might just stop making any payments?
</div></div>Talk about comparing apples and oranges. You are completely changing it up. Why don't you want to answer the question? When you are to the point that you might not be able to make the payments do you seek out more credit to pay the debt you already have?

eg8r </div></div>


The only reason why we would not be able to make payments, would be because Repiglicans destablized the market, blocked raising the debt limit, and caused interest rates to go through the ceiling, because they refuse to stop giving away our tax dollars to billionaires, who don't need it, and insist on throwing the Middle Class, the greates segment of consumers of American goods, under the bus.

You think that makes any sense?

What they are doing is what they always do, they are making things worse, for political purposes, and their main goal, to make President Obama, a one term president. That's all they care about, that and taking more and more from the Middle Class, so they can giver more and more to the wealthy.

We've ALREADY seen what their policies led to, an economic collapse, now, they are doing everything they can do to keep losing jobs, keep the markets nervous, keep blocking compromises, and destroy a fragile recovery, so how does that help our circumstances????

And Yes, if you have the means to build something more lucrative, borrowing more money when you are in debt, to get through tough times, is the correct path. Any business man knows that much. however, destroying your own credit, is about the dumbest move any who owes money can take, and trying to do so in order to give more of it away, to the wealthy, who don''t need it, is pure insanity.

G.

Soflasnapper
06-30-2011, 10:43 AM
There are many explanations from common day life that explain why this may sometimes be the correct thing to do.

Back in the day, GE and NOVUS used to finance some more expensive items such as health care, auto repairs, furniture purchases, etc., on a 90-free of interest credit line.

Now, say you're in the kind of debt situation you've described, and your older car craps its transmission. You need the car for work (let's say-- maybe public transportation won't get you there on time), you have no money sufficient to pay for the repair, and you have no available credit on the cards you have.

So the shop mentions that they offer this other line of credit, 90 days same as cash. Do you say no to the credit, fail to repair the car (except you're now saving up for it?), lose your job and your income, so you and your family lose your dwelling place and go hungry from lack of income?

I think almost everyone would understand that if you could get credit from the repair shop that way, you would be very well advised to take it, and fairly stupid not to.

Now as to getting more credit to take advances? That's probably a very bad strategy to use regularly or repeatedly, because of the very high interest rates associated with cash advances. In some emergency, might it still be warranted? I'd say yes, perhaps in some cases.

However, if the question is should you roll over existing credit card or other consumer debt into a new credit card, in the way that has been available now for some time-- either 0% interest, or a very low interest rate, for a set period of time like about a year or two-- there isn't much question at all that could make sense. Particularly if you're dropping debt costing you 15-20+% for either 0% or 2% for a year or more.

Note, not as a way to continue wild spending ways, but actually as a tool to use to get out of debt.

Another situation would be to complete a degree or technical accreditation, taking on debt temporarily to allow finishing a credential that will make you more valuable in the workplace. So you use increased debt now to allow you to finish the coursework more quickly, and then start earning the extra money that might yield sooner than later. That could also be a very rational move that saves you money in the long run.

Common sense does not comport with ideological rigidity too often.

eg8r
06-30-2011, 12:28 PM
I understand all your examples but they are adding extra variables. I am simply asking, if you cannot pay your current debt, do you go and solicit more credit to keep going?

eg8r

LWW
06-30-2011, 04:04 PM
Surely you didn't expect an actual answer.

Members of the mob work from the collective mind of the mob, and the mob's agitators simply do not provide the mob with answers to such questions.

Qtec
07-01-2011, 12:18 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">I understand all your examples but they are adding extra variables. I am simply asking, if you cannot pay your current debt, do you go and solicit more credit to keep going?

eg8r </div></div>

What he is saying is "it all depends on the circumstances."

If I was to answer your 'one scenario fits all' question, I would say generally no, but sometimes its a necessary evil. Also, it might be a good idea to increase your income, work longer hours, second job etc....[ increase tax revenue?]!

Under Bush, the debt ceiling was raised 6 times. Sure, there was political posturing from both sides but there was never any question of it not being raised. A default would be a disaster for the US credibility.
Raising the ceiling is 'a necessary evil', it has to be done, its not up for negotiation. The US has a 100% credit rating because it always pays on time.

The GOP are willing to risk all this for political gain, is that not despicable?



Q

LWW
07-01-2011, 02:52 AM
What he is saying is he can't answer that until Plouffe spoon feeds the "ANSWER" to the dembots.

Gayle in MD
07-01-2011, 07:22 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">I understand all your examples but they are adding extra variables. I am simply asking, if you cannot pay your current debt, do you go and solicit more credit to keep going?

eg8r </div></div>

What he is saying is "it all depends on the circumstances."

If I was to answer your 'one scenario fits all' question, I would say generally no, but sometimes its a necessary evil. Also, it might be a good idea to increase your income, work longer hours, second job etc....[ increase tax revenue?]!

Under Bush, the debt ceiling was raised 6 times. Sure, there was political posturing from both sides but there was never any question of it not being raised. A default would be a disaster for the US credibility.
Raising the ceiling is 'a necessary evil', it has to be done, its not up for negotiation. The US has a 100% credit rating because it always pays on time.

The GOP are willing to risk all this for political gain, is that not despicable?



Q

</div></div>

Repiglicans have no understanding of "Under the conditions prevailing."

One of the reasons why we're in this mess!

Next election, the radical right will go right back out there and vote for Repiglicans again, even though it is painfully clear, they will be voting again, for figureheads, who refuse to do their jobs.

All they have done is walk out on solving the massive messes they themselves made under Bush, over and over again.

PIGS!

G.

Soflasnapper
07-01-2011, 02:21 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">I understand all your examples but they are adding extra variables. I am simply asking, if you cannot pay your current debt, do you go and solicit more credit to keep going?

eg8r </div></div>

It's a bad practice generally, and to be avoided, when possible, certainly, and still WOULD be appropriate, warranted, necessary and advisable in some given situations.