Forum Post: 99% Pays No More Loans & Credit Cards
Posted 12 years ago on June 16, 2012, 5:49 p.m. EST by minhaalma
(28)
This content is user submitted and not an official statement
If everyone had the ability to pay off their student loans, credit cards, mortgages etc. they would and this wouldn't be such an issue.
If the 99% decided to not pay loans & credit cards, it would disrupt everything. But if disruption occurs in order to work toward a resource based economy and all debt is forgiven, what is the problem?
We can allow things to continue, and wait for everyone to pay their bills (which will never happen with all the bailouts) nothing will change. How miserable does everyone have to be before we say stop?
How many people die daily worldwide? Why should that many people die at all for reasons that can be easily resolved (starvation, lack of medical treatment etc.)?
According to THRIVE, it would cost $2 Billion dollars annually to end poverty. That's 2% of Spain's recent bailout. Besides improving life for millions, wouldn't ending poverty stimulate the economy? There is no maximum wage for the 1% and despite their wealth, they're not helping anyone.
Everyone has a right to food, water, shelter, the truth and the system has been set up so we have to struggle for it. We don't HAVE to do anything. We don't HAVE to fight wars we don't want to be a part in, we don't HAVE to pay banks that never had the money in the first place (or the paper), and we don't HAVE to continue to support a failing economic system which is falling apart as we speak.
This protest is to bring change. Documents are being leaked frequently, the media fails to inform us of the real news, people are distracted and overwhelmed with advertisements on a daily basis, our school systems are failing (my opinion), no one knows what is fact or fiction when it comes to stock market rumors, the conflict of interest when it comes to political parties is so well known it's charted out AND the pharmaceutical and food industry is poisoning everyone and everything.
If the majority of people said, "We will not pay & We make the rules," then things would be very different.
Most people are against this protest because they're afraid of having a bad credit score or they feel they are morally obligated by that loan they signed. What promises have our politicians kept? Why are you obligated to your end of the bargain but they are not to theirs?
99% pays no more credit cards or loans http://www.facebook.com/events/417243574982403/
New Economy Movement http://www.facebook.com/groups/239980376117514/?ref=ts
Yes, "What promises have our politicians kept? Why are you obligated to your end of the bargain but they are not to theirs?" Excellent point, the banks lie cheat and steal,. robo-signing, forged paperwork, "foreclosing" on people that NEVER even had a mortgage to begin with! Zero prosecutions of the bankers? Odd isn't it.
29.9% interest on credit-card debt,. compounded over and over, and then the fees,. oh they do love their fees! Every little transaction has a fee, when we know this is all automated computer digits, not "service" at all.
Why not run up you cards, and walk away. Bring down the banks, by using their own greed,. they lend this money with no collateral required. It is all based on a lame credit "rating" that is run by private for-profit corporations as well.
So what is the problem right-wing "personal responsibility" folks,. the banks lend this money with no collateral, so where is their responsibility? Due diligence? Nope, they are greedy and they will take your debt, because they want that endlessly compounded interest. Screw 'em, they have no qualms about screwing any of us over for money,. why not take theirs, and just not give it back. Good for the goose,. .
I will continue to pay my credit card debt because I am not a thief. I used the card to buy material things and it is my duty to repay what I borrowed. Why would you ask people to steal?
its the entitletment mentality
What the actions of the greedy corrupt?
[-] 0 points by salta (-104) 17 minutes ago
its the entitletment mentality ↥twinkle ↧stinkle reply permalink
"What the actions of the greedy corrupt?" you may want to re-state that.
OK
[-] 1 points by DKAtoday (9205) from Coon Rapids, MN 24 minutes ago
What the actions of the greedy corrupt wealthy and CorpoRations?
[-] 0 points by salta (-104) 17 minutes ago
its the entitletment mentality ↥twinkle ↧stinkle reply permalink
Yep - to right - much better now.
↥twinkle ↧stinkle reply edit delete permalink
"What the actions of the greedy corrupt wealthy and CorpoRations?" You re-stated but to no avail. Is English a second language for you?
So sorry if you are slow on the uptake.
Why - don't - you - Thimk - about - it.
Was that text-ed to fast?
English IS a your second language !!!!!
No - just thought it would make you pause for a sec as you considered whether or not that was a spelling error.
More like a sentence structure error.
You just don't like creativity.
You do seem to be somewhat inflexible.
I live a creative life. I'm a professional artist.
Really? Now that is surprising. You really don't seem free flowing enough to be an artist. What kind of art?
a realist only in the sense that you know you're looking at a landscape. the colors and forms do not mimic nature.
Well - OK - cause the next question was gonna be are you a perfectionist.
landscape painter. I work with color all day, everyday. my "mouse "has flecks of paint on it.
Interesting - I would never in a million years have guessed.
So a realist? In painting I mean.
NOW THAT IS GREED. You consumed it and want SOMEBODY ELSE PAY FOR IT? The right response is to pay your debts and then help someone ele.
Jeez relax. It's just numbers on a bank account. Why do you get so worked up over it?
few will ever pay their debts
I paid off my credit cards and cut them up. Screw my credit rating. i am paying off my car in another year with the money saved and I will never get another new car again. Pay cash for everything, that is a protest in itself. you think more about what you buy and pay for.
A whole lot of occutards need to hear this simple message. Borrowing is a choice. Being in debt can have serious consequences. It doesn't seem hard to understand, but for some reason it is. Bravo to you for getting it. You are a rarity on this site.
Growup5-while I agree with a number of the ideas, I believe in personal accountability, so thank you. Hey, I was stupid once and had a lot of credit card debt. I paid it off and cancelled the things. Now, I have another year on my car and I will take up long distance running like a Kenyan Olympian before I buy something new...I am kicking myself. I think that not paying ridiculous prices and making very smart choices is a protest in itself. If OWS had leadership that wanted some true change- have everyone who is not full of it to stop spending using credit cards, to resolve to get an education without student loans and to not get a car because it sends a message of some sort. We have allowed ourselves not to read the fine print and to convince ourselves that it is the predators fault...kind of reminds me of Australia and sharks. Sharks feed in shallow water...people go in...get eaten...more people go in...Stop spending...sit down and make yourself the revolution...I am able to sleep so much better .....to each their own
Save more, borrow less, make yourself more resilient... all work and all are about taking personal responsibility for a better life. Radical stuff on these blame boards.
Free will exists, despite what the occutards say. You can even show them their own name at the bottom of everything they've borrowed and it still isn't enough to arose even the faintest sense of responsibility taking. Blame is easier than your approach.
Banks prey on us with loan shark level interest rates. They are criminals putting working Americans into indentured servitude. They crashed the economy, they have created much pain and suffering and have raised their own pay, increased their profit and watch us struggle. They should be found guilty and sentenced to forgive the debt they hold. simple
on the nose. I agree with everything you just said.
and I even have good credit and have paid my debts.
I think the rules and the system are broken. I think student loans have become a form of entrapment that a lot of kids feel forced into after high school.
If we spent a fraction of money we've spent on the wars since 1990, we could have public option college.
If minimum wage was increased to match inflation less people would take out loans because they'd be less broke.
There's so many simple fixes but a lot of assholes are blinded by propaganda and it's holding society back.
Sing it!
if you have good credit, interest is at an all time low. if you have no collateral, why would a bank lend you money. if you use credit cards to buy things you want but dont need and cant pay for, you're an economic dunce.
Banks borrow from our govt for under 1%.! they should forgive cr card/student load debt for the working class.! as punishment for the crimes against the 99%. Then instead of lending to banks let the govt lend directly to the working class at below 1% see how the banks like losing their loan shark level scam on the people.
why should banks forgive loans? the banks make a few points above prime. but it takes YEARS to get their money back. it is not constitutionally specified that govt lend money to private citizens. when fannie and freddie got inot the act the housing market crashed.
Banks and financial corps crashed the world economy and continue to prey on the 99%. They deserve the punishment of being forced to forgive the debt of working class Americans.
the banks were forced to give non income verification loans by janet reno, clinton, dodd -frank.i know some who workerd for contrywide as a loan officer and was fired because he refused to approve loans that countrywide knew would be defaulted on.
Countrywide was one of the biggest criminals in the whole scam. The execs got away nicely and the working class American Homeowners were left holding the bag. Thats why I seek relief for them. You speak up for the right wing wacko 1%. We disagree. Thats all.
dodd was a friend of the head of countrywide. a close friend.
Yeah I remember. so what.? Lotsa dems caved in and voted for right wing policies. That betrayal is a central part of why we are in this mess. Why we need OWS to recreate a left wing movement.
dodd didnt cave, he led the charge.
Dems betraying left wing principle for the 1% right wing is a central part of our problem. Support OWS. Vote out pro right wing politicians
Loan shark interest rates? Rates are at HISTORIC lows, thanks to the Bernankster.
No one forces you to take a loan. If you signed for one, then pay it and STFU. Time for a little personal responsibility around here.
Banks charge as much as 29.99% on cr cards. It is criminal. Meanwhile they borrow from the public for under 1%. If our government can lend cheaply to banks they can lend to working class Americans at the same rate. Then banks can get by without any cr card income. See if they like that better. Goddamn loan sharks!
But you don't have to take out a 29% credit card. The interest rate I typically based on risk.
Punish the criminal banks, Support working Americans with debt forgiveness. Speak up for your class not the 1%!
Then don't get a 30% interest card. See how easy that is? There are plenty of cards with lower rates, or pay cash if you desire.
Government CAN'T lend cheaply to banks. They are doing it anyway and passing it off as guarantees by tax payers. Screw socializing everyone's problems with the whole country's earnings, which is exactly what the gubment is doing. Working folks are getting tired of working for everyone else.
perhaps shorter hours and higher pay?
Can't you stay on topic? You just throw random schit in threads. What do interest rates have to do with shorter hours and higher pay? Nothing.
who pays 29 %? do you? my mortgage , at low interest is with a PRIVATE bank.
cr cards are 29% govt should refi all working cl cr card debt for under 1% like banks get! mtg should all be rest to 2% for the working class. make the banks suffer for the crimes against the 99%
do YOU use a credit card that has a 29% interest rate?
I use no credit card
but do not appreciate my neighborhood being ripped off
have you gone door to door and asked your neighbors if they use credit cards and what is the interest they pay? how many people buy things that they knowingly cant afford, college tuition included?
My personal situation is not relevant. Punish the banks by making them forgive working class Americans cr card and student loan debt.! Let the people borrow directly from the govt see how the banks like losin the income fr their loan shark scam on the working class. Why are defending the criminal bankers?
You are a real moonbat. In your quest to get the "evil bankers", you realize you're carrying a crusade against all the pension funds, 401K's, IRA's and stockholders who have their life's retirement savings in those banks? That's a helluva lot of the "99%".
"see how the banks like losing" ? I thought banks weren't people? How can they "like" anything?
You're right, your personal situation is irrelevant. You have zero life experience. Are you posting from mama's basement? GET A JOB.
Banks are making record profits while the rest of us still struggle under the indentured servitude they have created. The banks execs get massive salaries, obscene bonuses, ridiculous golden parachutes. Lets take that for the working Americans debt forgiveness. Stockholders? You speak up for bank execs, the 1% corps and stock holders. I'm more comfortable speaking up for the 99%.
What's this "rest of us"? You don't speak for the 99%. You don't take anything unless you earn it. Get it?
Yes, stockholders. Ever hear of them? LEARN ECONOMICS.
I've made lotsa money in the stock market (before the right wing wackos brought us the great recession) I ain't concerned with stock holders, because the people suffering are WORKING Americans. God damn it. We have an unemployment crises and you right wing wackos wanna fire people. We have a low demand low consumer spending problem and you wanna help the 1% corps. We gotta help the people who need help. Not the people who created the pain and are living fat and large.
Yes, I want to fire public workers because they're a drag on the economy. There's no need for 70 zillion paper pushers at the Dept. of Agriculture, the Treasury Dept., the Dept. of Energy (which produces no energy), the Dept of Education (which educates no one), the Dept. of Labor, etc., etc., etc. They make nothing of value. They just shuffle paper and policy from one pile to another and harass the private sector with edicts when it's clear most of those govvies have never worked in the private sector themselves.
It shouldn't cost $500,000 in taxpayer dollars to create one government job. It's insane and it's breaking our financial back. You can't tax the entire population enough to pay for all this government fraud, waste and abuse and government should not be a jobs program.
So yer GD right I want to fire people, namely those that belong to the NEA, the SEIU, AFSCME and all the other gubment mules.
Mules like this:
http://www.youtube.com/watch?v=OdREEcx0-Qc
.
I support working Americans. You wanna give more to the wealthy!. We disagree! Thats all. Support OWS. Vote out anti union politicians
how are working people a drag on economy?
the economy should be measured based on goods and services exchanged
You're just so stupid. Without the capacity for responsibility taking, your life is always gonna suck. That's how it works.
Just look up the returns, if you can, on Bank of America stock since 2006. What an idiot. For your own sake, try to learn something at some point in your life.
You insult me because you have nothing of substance to add. The criminals who crashed the economy should have taken responsibility instead of the trillions in bail outs and 1 % loans from the American PEOPLES govt. We want the money back they stole. They should return half the lost value of our homes that we lost when THEY crashed the market. that would cover our debts and then some.
You don't know what substance is. You're just an ignorant propagandist. Pay your bills you deadbeat. If YOU signed it, YOU borrowed it.
Blah! blah! blah!.
Forgiving student loan debt would only make it harder for future generations to get student loans. Maybe lower the cost of School? Or have loans tied to future earning potential so an accounting loan is cheaper in interest rates than a philosophy degree?
Definately lower college costs. tuition has gone up much more than inflation. Also expand Pell grants. Cut student loan rates to 2-3%. tie them to future earnings yes. cut loans for working in low income areas. Many things we can do. But most of alI like punishing banks by forcing them to forgive cr card/student loan debt for working class Americans.
Here's something else you might learn in a week or two at community college. When you throw too much money at something, you spark inflation. You bitch about tuition inflation and then demand that more subsidy be thrown at tuition which only fuels more inflation.
Help working Americans. Stop helping the wealthy. The wealthy do not need more tax cuts. Pell grants, lower rates, any way we can. We disagree you are concerned about the 1%. I am concerned about working Americans. Your arguments are so empty you must resort to the insulting schoolyard bullying tactics of your candidate Romney.
especially with communication removing the need for banks to be middle men
the other choice is paying rent
Sure, borrowers had nothing to do with it. Millions and millions of people woke up one day and found themselves with all those bills and they simply have no idea how that happened. LOL.
The economy "crashed" because the run up the charge card approach to life hit the wall. The savings rate was zero, now it's about 4-5%. The hangover is holding back demand. Dummies that were using their houses as ATM cards a few years ago driving demand are now licking their wounds. Same goes for the credit card dunces and now the student loan dummies. Every last bit of had a borrower with free will. You might be shocked to learn that it wasn't mass hypnosis.
Criminal banks and other financial corps crashed the world economy. The working americans still struggling were the victims. Don't blame the victims. Stop advocating for the 1% right wing wackos who are still livin fat and large off of our hard work.
Sure they did. And your neighbor still trying to pay down his credit cards and boat loan, that was some bankster that made him borrow the money. LOL. Households have no more capacity to keep running up their debts. In fact, they're now slowly healing themselves from the party they threw themselves with borrowed money. That means slack demand for years to come. Smarten up.
"Blame the victims": Another reason free bit of dribble from liberals.
Stop blaming the victims. Punish the bankster 1% and tax them up the $ss. Get our money back that they stole.
I'm just glad I'm not your kid. Hearing your stupidity would give a young person a lot to overcome in life. No wonder your life sucks.
My life is great. Your efforts to make feel bad are more evidence you are spent. Worn out. It's like your having a tantrum. take breath. get a grip. I am liberal left wing who believes in helping working Americans. You are a conservative right winger who is scared of all non whites, doesn't wanna share and speak against your own class.
Sure, it's racism. All those people with 6th grade educations? It's gonna be great. Why the country has a shortage of unskilled drop-outs. What modern country doesn't? Our failing schools are a problem because they release unprepared drop-outs into a modern economy. The border is a good think because it releases unprepared drop-outs into a modern economy, but because they're brown, anyone that notices is merely a racist or xenophobe. You favor flooding the unskilled part of the labor market, but because you mean well, you support the people whose prospects are dimmed because of the oversupply in their part of the job market. You reason worse than a child.
More insults! This country represents more, and better opportunity for the undereducated people around the world. Obviously we have to make room for them. It is the humane thing to do and we WILL benefit. We just have to do the right thing. Set aside our fear, selfishess and greed. Y'know most people in this hemisphere struggle in part because of our policies against their countries. We have a responsibility because of our complicity in their struggles and just basic human decency.
No shit dumbass, it's a great idea for undereducated foreigners. Did you just figure that out? If so, congratulations. We're talking about what's in OUR interest and the interest of no-skill Americans whose prospects are dimmed when a pile of unskilled immigrants show up for the same jobs.
banks want the numbers of money to favor them
They are evil, greedy and should be made to pay.
people starting with all the money to loan is not a choice
Well, we still couldn't change the fact that those loan borrowers are still obligated to pay their loan whatever it takes them to be. And besides, they will be the ones being beneficial when they pay their loan as they will never feel the existence of bad credit on their credit records. - http://lizloans.com
Credit cards are you're own fault, that is being lazy and greedy to have someone pay for the thing should bought.
You pay or we take everything you own, shutoff your electricity and water and kick your freeloading worthless butt to the curb.
You keep typing. You're making a helluva splash! LOLOL
Why not use the bailout to end poverty? The bailouts are only delaying any financial crisis that may happen, not helping. More bailout=more debt. The $16+ Trillion in bailouts in 2008 solved what? Budget cuts? More foreclosures? Unemployment? How have the bailouts improved your life? Did activities gets cut from your children's school? Did you lose your home? Are you lose your job? Are you ineligible for unemployment? Iif we really want to make an immediate impact, then we need to stop using this debt based economy.
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Lord, I wish 12 years of economics were required in school.