Forum Post: Simple Way to Take this Movement to the Next Level
Posted 13 years ago on Oct. 7, 2011, 9:43 p.m. EST by radical22
(113)
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If in fact we are the 99% who make the 1% wealthy by paying our credit card bills and our mortgages and our student loans-- then we should have a National two month bill paying moratorium. NO MORTGAGE PAYMENTS, NO CREDIT CARD PAYMENTS NO AUTO PAYMENTS, NO STUDENT LOAN PAYMENTS. Where then would the bonus money come from? We, the people control the cash flow into these institutions and We the people CAN WITHHOLD those funds. Two months of no funds flowing in will spark real change!!! Banks will start to work with homeowners, exhorbitant interest rates on credit card balances will come down. We the people will hold the Entire Financial System Hostage. This is the only way to do it people. Think about it. Bonuses will be voted on in Jan 2012 and paid in February 2012. With what $$$? If we withhold their bonus $$ they are toast.
Here's a simple way to take this movement to the next level - a true revolution (without the messy part) http://www.JeffBlock2012.com
Its okay to borrow money. Its not okay when the terms change just to line the pockets of bankers. How many have seen their interest rates rise from 8% to 18% while the banks costs of funds (due to the fed) has fallen dramatically? How come the bank credit card agreements are 31 pages? Not for the consumers benefit. How come the banks used the bailout money to lobby against financial reform? Free will is one thing, fraud is another.
While I will agree that there are many problems with our government and the ways things are going in our financial market place, I think we have to also take some personal responsibility for where we are financially. No one held a gun to anyone's head and forced them to sign a credit card application. No one was forced to take out student loans. And, the same is true for mortgages. Why are some many in this group blaming others for loans they took out of their own free-will?
Only a fraction think its a good idea because we have been brainwashed to worship at the altar of the good credit score. How is your future going to look when students graduate en masse without jobs and 100K in nondischargeable student loan debt? Keep paying 18% to the banks and give them their "ill gotten" $$$. Keep giving your money to the malefactors of wealth.
You have to realize that out of the 99% of the US population only a fraction think this a good idea. Out of that fraction, only a handful will risk their future to do something this stupid.