Capital One is not yet up 100% given the great buying on retail, jewelry, and computer by people ON CREDIT during the worst consumer sentiment and perhaps depression in the US since the first Great Depression. And neiter is any financial / credit guarantee companies.
Why do people like the buying, but not like the credit used to support the buying?
Is America saying "I like to buy, but I sure don't like to pay for it"?
Sure as hell looks that way to me. It's just a matter of time before HUMAN will be used as collateral behind a loan. In the meantime, I suggest we do nothing, and continue blogging and spewing crap in the internet - we want to get an Excellent View of the grand canyon below.
The right enemy
12 years ago
7 comments:
Should I go long debtor's prisons? CCA instead of COF? :>
CCA is the Calif muni? I will look monday if they have floating rate in there. It can be awesome just for entertainment value alone.
My mistake, I meant CXW (Corrections Corporation of America)
Paying is so last century.
Do you know what they'd do to you if you buy Ipod on credit and it's 1928? Very long hospitalization.
Copied from somewhere in the net:
"If you thought Virginia's payday lenders were bad, things could be a lot worse! India, with its growing economy, is experiencing a bank-led consumer lending boom. As in the United States, some borrowers fall behind in their repayments. Even in India, it appears, some people get caught on a treadmill of indebtedness. But in India, banks have a quaint way of collecting their debts: They beat people.
Today's Wall Street Journal describes the fate that befell Vinod Kumar, a 21-year-old college student who was sitting in a friend's car listening to the radio. A stranger suddenly pulled him out of the car, beat him with an iron bar and left him with 12 stitches and a 10-day hospital stay. Writes the Journal: "Mr. Kumar's attacker was a goonda -- a thug -- working on behalf of one of India's largest banks."
"
"Mr. Kumar's attacker was a goonda"
Well, this is a little known fact. The less you pay a goonda the longer Mr. Kumar hospitalization is gonna be. Truly very efficient self controlling finance.
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