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Forum Post: Brit Families Hamstrung by Interest Repayments, Canadian consumers going further into Debt, Debt Neutrality anyone?

Posted 2 years ago on Aug. 29, 2012, 2:47 p.m. EST by DebtNEUTRALITYpetition (638)
This content is user submitted and not an official statement

I have been able to find VERY SHORT articles from around the globe that are all saying the same thing, consumer debt is too high. and I have placed them on my Debt Neutrality blog page, (not the petition). www.debtneutrality.blogspot.com

However, Increasing consumer debt levels are the only way for the Billionaires and Trillionaires of the world to keep carving out new profits.

Occupy Wall Street's cause is just, although I do wonder why not directly focus on the issue of consumer debt and the lack of effort by governments to help consumers pay down their debts without any more interest rate charges, penalties and fees.

25 Comments

25 Comments


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[-] 1 points by DebtNEUTRALITYpetition (638) 2 years ago

Did Iceland simply say they had no bank debts and started over? Or have I oversimplified it?

I'm curious if Iceland is changing it's credit card practices. 10-15% repayment each month of the total credit card debt owed would go a long way towards limiting another economic meltdown.

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[-] 2 points by shadz66 (19985) 2 years ago

Re Iceland, I append for your consideration :

There is a very clear reason that Iceland and its approach to dealing with its Kleptocratic Banksters is massively under-reported. The Corporate media in US-UK & elsewhere are in league with the Banking Establishment to maintain the lie of 'TINA' (There Is No Alternative!) to Mass 99% Austerity - whereas Clearly There Is An Alternative !!!

e tenebris, lux ...

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[-] 2 points by shadz66 (19985) 2 years ago

You're very welcome mate :-)

ipsa scientia potestas est ...

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[-] 1 points by shadz66 (19985) 2 years ago

It's "interesting" and Revolutionary - I "believe", lol !!!

per aspera ad astra ...

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[-] 1 points by shadz66 (19985) 2 years ago

Ok & here's site that you (& he) may like :

as it may be helpful for "higher learning" in many matters ~*~

verbum sat sapienti ...

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[-] 1 points by shadz66 (19985) 2 years ago

Steady On Trooper & don't 'flag up' your own ass !!! Yeah, I know you don't give a shit either !! But just sayin' - with NO double entendres intended, lol !

verb. sat. sap. ...

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[-] 1 points by shadz66 (19985) 2 years ago

LOL ! Looks like you found your Zen, dog !!

fiat pax ...

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[-] 1 points by DebtNEUTRALITYpetition (638) 2 years ago

Ah, the international banks. That makes sense. Once a country has an infrastructure built up, the ongoing consumer debt traps set up by the international and national banks become stupid, and and dangerously controlling as well.

However, if Iceland is using credit cards and only having a 2% minimum payment, they will just recreate the same economic mess in less than 10 year's time.

[-] 1 points by shadz66 (19985) 2 years ago

Maybe so or maybe not but Icelanders know that they can press reset any time they want & they know as a nation just where there testicles are at !!!

veritas vos liberabit ...

[-] 1 points by DebtNEUTRALITYpetition (638) 2 years ago

So what does that mean? If Credit cards are being given out with only a 2% monthly minimum payback amount, and in 10 years time there is now a few hundred billion in credit card debt, setting the reset button has to hurt the very same people who borrowed the money in the first place, no?

[-] 1 points by shadz66 (19985) 2 years ago

Consider : Lending Money as a 'Business Model' should NOT be without some degree of risk !!!

"None of our problems will disappear until we correct the creation, supply and circulation of money. Once the money problem is solved, everything else will fall into place."

"When money drives almost all activity on the planet, it's essential that we understand it. Yet simple questions often get overlooked - questions like : Where does money come from ? Who creates it ? Who decides how it gets used ? And what does that mean for the millions of ordinary people who suffer when money and finance breaks down ?"

radix malorum est cupiditas ...

[-] 2 points by DebtNEUTRALITYpetition (638) 2 years ago

I think what gets overlooked in the plus 5% argument is that wealth is actually created. I think interest rates become the root problem when the richest people keep jumping to the front of the line so they can continue to "reinvest" their wealth.

Trillioinaires reinvesting their wealth over and over is the ponzi scheme, not the actual loaning of the money first time around. The richer one is, the LESS money they should get back on their investments because if they had to guard their own wealth, it would probably cost them 50% of their wealth to do so.

The idea that we have to keep having the elite's money re-loaned to us to survive is ludicrous, and is the type of propaganda that is ruining the world.

Message to the trillionaires, Either SPEND YOUR MONEY, OR, pay a 50% fee to maintain your own militia to guard the wealth you already have, don't keep jumping to the front of the line expecting the best return and the least risk.

[-] 0 points by TheRazor (-329) 2 years ago

Message to debtors, a penny saved is a penny earned.

Make FRUGALITY your credo. Debt destroys wealth.

[-] 1 points by DebtNEUTRALITYpetition (638) 2 years ago

savings destroy the ultra wealthy, no?

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Since credit card companies can change our interest rates without our consent, shouldn't we also be able to change the interest rates without the banks consent?

[-] 1 points by DebtNEUTRALITYpetition (638) 2 years ago

lol. Credit card agreements are considered "adhesion contracts", which in some states like California is considered partially illegal. However one then has to prove a second point to make the illegality stick. I think the second point that has to be proved is unconscionability, meaning the terms of the adhesion contract agreement are proven to be unconscionable.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

It might be worth taking these credit card companies to court in the hope they don't show. But do it in large blocks of people at about the same time so that their representatives would have difficulty attending all of the court dates.

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