[meteorite-list] Meteorite sales falling with the stock
From: Ted Bunch <tbear1_at_meteoritecentral.com>
Date: Mon, 13 Oct 2008 12:31:37 -0700 Message-ID: <C518F029.80F6%tbear1_at_cableone.net> Well said John! Probably one of the best summaries of why there is a credit problem. A few months ago a news item came out that said the average credit card balance was ~ $8000+. Add that to a car payment and the mortgage and it is a no-brainer to understand Main Street's credit problem, which of course led to the greed of lending institutions. There is "no cure for stupidity". I went into Wal Mart yesterday for a flu shot and asked the stabber if she had a vaccine for stupid and she said no, but wished she did "we could make billions". Ted Bunch On 10/13/08 10:15 AM, "John Gwilliam" <jkgwilliam at gmail.com> wrote: > We can point finger in all directions and blame a whole basket full of > politicians, business leaders and everyone and anyone else. One thing > we need to address ( in my uneducated opinion) is the over spending by > the regular folks on Main street. It used to be people saved up > enough money until they had a 20% down payment for a house and only > used credit for other items like a vehicle (not two or three) and > education. These days, many of us citizens make purchases on credit > that we really can't afford. after all, why do we put "thing" on our > credit cards? Because we don't have the cash. Optimistically, we > always believe our financial outlook will be brighter in the future > and we'll be able to pay off the credit card quickly. Sadly, it's > that's usually not the case. > > Those of you who are my age (56) or older might remember the "lay > away" plan that many department stores used to have. You went into > the store every week or two and paid five or tens bucks on an item > they were holding for you. When you paid for the item in full, they > handed it to you and you had a brand new "thing" - a washer, dryer or > bike for one of your kids. Nowdays, we put the "thing" on a credit > card and by the time most of us get it paid off the "thing" is worn > out or dead and gone. > > It's time for all of us to take a hard look at our spending > habits...along with who we vote into office and how we use our money. > > Sure, we're in a big mess. But if everyone learns from this mistake > we can all be doing better down the road weither it's in one year or > five years. > > Best, > > John Gwilliam > > On Mon, Oct 13, 2008 at 9:32 AM, <valparint at aol.com> wrote: >> Received on Mon 13 Oct 2008 03:31:37 PM PDT |
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