How did this all start again?
02-27-2009 09:32 PM
yeah, it definitely has the chance to make things worse in the short term, whats even worse in thinking about it is if the bump downwards in limit drops your credit score, and then due to a lower credit score it raises your rate as you are now in a new tier.
the plus to all of this is that maybe it teaches us not to rely so much on credit, and try to live credit minimal lifestyles other than mortgage. And not oh i dunno, have your annual spending be 2x your income like the federal government will be the next few years...
03-02-2009 03:48 AM
I think this explains it fairly well chrismartenson dot com watch the crash course for free. The problem is apolitical,it had to come about sooner or later in an economy based on never ending growth.
03-02-2009 07:18 AM
how is forcing banks to write loans to unqualified people apolitical? All economies are based on never ending growth, I have yet to see a country say "our economy is big enough, no more growth next year". Considering populations go up each year, the economies NEED to be based on never ending growth or else the standard of living will go down year after year.
Originally Posted by lutherblsstt
03-02-2009 07:53 AM
I won't mention the company, but I have been paying down a card, never late, never missed a payment, and I just had the limit lowered by several hundred bucks, bringing the ceiling down closer to my balance. This in turn, makes it where I am now almost maxed out again. This is insane indeed. I actually have good credit, and no I haven't used my card in a while, only because I try to do whats right. Pay it off and be responsible. Just my 2 cents.
03-02-2009 08:17 AM
Yet here I am also with good credit and they keep raising my limit.
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03-02-2009 07:47 PM
Originally Posted by EasyEJL
This is just not a partisan issue.
I don't see this as a matter of “left vs. right”, but rather “right vs. wrong.”
I am absolutely an equal-opportunity caller of B.S. when I see it. I really don’t care what race, religion or political affiliation a person holds. I will analyze their proposals on the merits as I see them.
Growth merely delivers more of what we already have, but in larger quantities, with higher risks, costs, and complexity. Given this, shouldn't it at least be questioned and challenged?
All economies are based on never ending growth, I have yet to see a country say "our economy is big enough, no more growth next year". Considering populations go up each year, the economies NEED to be based on never ending growth or else the standard of living will go down year after year.
Let me quote Albert Barlett who is a man I hold in very high esteem.
First, for his ability to speak in clear, concise language, which is the hallmark of someone who has mastered their material.
Second, because he sees the obvious and dares to point it out. Let me reframe that: He sees things that are incredibly obvious to others once he points them out. But because these things are most often "hidden in plain view," they are actually noticed by very few.
"It’s time to try again to correct the educationally credentialed but innumerate experts (innumeracy is the mathematical equivalent of illiteracy) who say that growth is inevitable. They fail to recognize that after maturity, continued growth is either obesity or cancer.
The arithmetic is clear. Steady growth produces impossibly large numbers in modest periods of time. SO GROWTH WILL STOP
The Legislature and all manner of public and private regional and local “civic groups” are promoting “economic development” which is the “politically correct” name for “growth.”
Predictably, this will produce more well-to-do people, more homeless people, more employed people, more unemployed people, higher average salaries, more people living below the poverty line, more traffic congestion, higher parking fees, more school crowding, more crime, more unhappy neighborhoods, more expensive government, more tax revenue, higher taxes, more fiscal problems for state and local governments, more tax limitation measures, more air and water pollution, higher utility costs, less reliable utility service, less democracy, more congestion pricing on busy city streets and crowded highways, more unmanageable costs of maintaining public infrastructures, higher food costs and more destruction of the environment.
It’s not clear why the Legislature would think that the people would want all of these known consequences of growth. However, innumeracy reigns. The promoters have demonstrated great skill in getting around minor obstacles such as “the will of the people.”
By their continued promotion of growth, the innumerates are speeding the ar***** of painful but predictable shortages and consequent rationing of gasoline, natural gas and water in the Rocky Mountain area.
These shortages and the accompanying high prices will remake the urban landscape in ways that are probably not included in current “long-range” planning efforts of the City, County and State.
These problems can’t be solved by a nickel’s worth of “Smart Growth” tacked onto to billions of dollars worth of urban sprawl.
The arithmetic of population, resources and growth is inexorable. The consequences of the arithmetic can’t be avoided by believing that “Wishing will make it so.” (Walt Disney’s First Law)
Many years ago an innumerate graduate of the University of Colorado wrote to me, saying that he did not believe that this arithmetic holds in Boulder? What part of the arithmetic of growth is it that the innumerates don’t understand? "
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