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#1 |
Let's do another U-turn
Join Date: Feb 2008
Location: Indiana
Moto: 2009 V-Strom
Posts: 3,816
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Gee, why am I not surprised. Let's bail out big business that's "too big to fail," but force the general public to pay debts they can't afford.
http://news.yahoo.com/s/ap/20081113/...n_credit_cards |
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#2 |
Moto GP Star
Join Date: Feb 2008
Posts: 12,156
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Did you see that some banks are now reducing peoples credit limits on their credit cards? I read one case where they reduced the limit for $10,000 to $2,500.
I think it's a good thing actually. It will make people more fiscally responsible for their over spending. Last edited by Rider; 11-13-2008 at 03:53 PM.. |
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#3 | |
Hold mah beer!
Join Date: Feb 2008
Location: 80 Miles South of Moto Heaven
Moto: 08 R1200GS
Posts: 23,268
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I agree down with credit cards! God forbid people actually have to be conservative with their spending.
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#4 |
Custom User Title
![]() Join Date: Nov 2008
Location: Central NY
Moto: 2003 SV650S
Posts: 14,959
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Anyone remember that days when if you couldn't pay for it you didn't buy it?
hmmmmmmmm....
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I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away. |
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#5 |
Crazy like a fox...
Join Date: Nov 2008
Location: WA
Moto: 05 R6
Posts: 76
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#6 |
White Trash Hero
Join Date: Mar 2008
Location: NW Arkansas
Moto: Buell 1125R Porco Rosso Edition
Posts: 4,895
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The consumers already have an out for their credit card debt...Bankruptcy. Still won't help the situation because it only creates another segment of the population that can't borrow to purchase goods and stimulate the economy. Lord knows incomes haven't gone up enough to operate the economy sans credit so...
Foreclosures are up 25% from last year, i am betting a simialr increase for bankruptcies. There is going to be a whole new lifestyle coming...For the haves and have nots...
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#7 |
Custom User Title
![]() Join Date: Nov 2008
Location: Central NY
Moto: 2003 SV650S
Posts: 14,959
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__________________
I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away. |
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#8 |
Wrap Yo Ass in Fiberglass
Join Date: Feb 2008
Moto: Feet
Posts: 1,605
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Personally, I would not bail out businesses. I would entice consumers with rebates for buying shit. It works two fold-first it would get people to spend money and two--credit is still tight so only the people that can afford stuff can buy.
I guess that plan is too complicated. I could use a new truck. |
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#9 |
token jewboy
Join Date: Nov 2008
Moto: CBR 900, KLR ugly ass duckling, Gas Man
Posts: 10,799
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I don't really see how people can spend up thousands on a credit card. I just can't fathom it at all.
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#10 | |
Woolly Booger
Join Date: Nov 2008
Location: FL
Moto: Anything
Posts: 76
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Doesn't matter to me. We haven't used the card for 3 years since we started the business and are on the way to pay it off soon.
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http://www.anmsafetycourse.com Learn to Ride, Get Endorsed! If loud pipes save lives, imagine what learning to ride that thing can do! ![]() |
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