The only thing more predatory than a politician are the credit card companies.
Carrying a balance on a credit card is by far worse than establishing a loan thru your financial institution. Those who can least afford it are frequently the target of predatory lending. PayDay loans and alike are one step away from borrowing from the mafia. Those who specialize in payday loans are not the financial institution you should deal with. They are the mob who will cash your check and attempt to solve all your problems by selling you magic beans for the cash, in the form of lottery tickets.
The root cause of the problem, however, is not those who seek to ‘assist’ those in need. The root cause is the need itself and a lack of intelligence when it comes to managing your finances.
If we glance at the past as in history, and then we look forward, we can see where this will end.
Having lived thru the lies of Carter, gas lines, odd and even days, and no more than ten gallons at any given time, we were happy just to get Gas, not really caring what it cost.
There is a price that is going to be the next crisis we must deal with.
I have not used a gas card in years. I used to have one that I did use to keep up with my expenses but that was a long time ago before frequent flyer miles.
The other day, unexpectedly, I received a new gas card. Why?
They know that there is about to be a boon to those who extend credit. We are used to budgeting X dollars a month for Gas. That expense has doubled. Depending upon how much you drive and what you drive, undoubtedly, you will feel it at the end of the month.
Not only is Gas twice the price, but food is also much more expensive. Heating and cooling costs have risen exceedingly fast.
Energy drives the prices for many things.
Where you might not have carried a balance in the past, you might now. Much like Sisyphus, pushing that rock uphill will break many.
Not to worry. A late fee is only $30, and your remaining balance might go up to 30%, but other than that, they have you covered.
If the current administration can blame all your pain on Putin, they stand a good chance to distract you from reality come election time.
It is imperative that you only listen to the very liberal media, which includes NPR.
Like Don Quixote, they truly believe that windmills will save the day. Tilting at tried-and-true methods of energy production, they seek to push this country back to the depression era. Little wooden shacks for the sharecroppers will dot the land in the middle of nowhere. They will need no amenities and will be totally dependent on their masters. Look no further than North Korea for a role model.
The poor management of your credit cards will be your undoing. Much like losing at Monopoly, you will mortgage your belongings to the very institutions that loaned you the money in the first place.
There are no do-overs. When you find yourself wishing for a solid cardboard box to keep the rain off your head, or fighting for a dry spot under a bridge, only then will you truly understand that this has never been about race, but a struggle between the have and the have nots.
Knowledge is power and that privilege that so many ignorant fools scream about. History is the source of that knowledge. It makes little difference if you like the history or hate it; it is there to learn from. Erasing history is just as foolish as thinking skin color is the solution or the problem.
If I were a gambling man, I would buy stock in companies that made loans. I would find companies that buy foreclosed homes and rent them out to invest in.
Most young people are stupid when it comes to money. They find renting is the quickest way to live the lifestyle they were accustomed to when mom and dad foot the bills. The attitude seems to be live for today, and tomorrow will take care of itself. If you look at their social media, you will discover what I mean. They are the market for the next breed of a predatory lender, those that buy foreclosed or ugly homes, spend as little as possible to restore or update them, and rent rent rent.
As prices continue to rise because of this administration’s piss poor policies, they will be among the first to suffer. Mom and Dad will be among the second to agonize as they end up opening their homes to their boomerang progeny along with their fur babies and maybe grandkids.
Mom and Dad, who saved for retirement, will end up using that retirement money to bail out their kids, who still think that playing video games all night is the equivalent of work.
Domestic disturbances will be over such things, and the entitled brats will be the spark that sets the next set of events into motion. The divorce, custody battles, and more money wasted on lawyers and court costs. Who could know this would happen??? Hello…
If you’re not putting money in the bank for a rainy day, you are screwing up. I would think that one should have at least three months of expenses saved in an account that you don’t touch. The wolf is at the door, and he is knocking.
When companies demand you return to the office, gas, tolls, and normal wear and tear costs return too. There will also be new clothes required. Are you ready?