CREDIT, GREED & SECURITY
I wonder, will there soon be a law for greed? I wonder how that will be litmus tested and gauged?
I don't think credit is that bad / evil... just the misinformation or lack of financial education available to credit users. Or more so the lack of effort an individual makes toward educating themselves regarding the issue of fiscal learning.
There should be a class or some kind of prerequisite prior to taking any credit or making a purchase by way of credit aside from economics; a separate business class teaching only credit.
Credit has been used to start a business, get out of debt ( true ), and other things... but most fall into an ignorant pit of seeing credit one-dimensional.
I'm going to return someone's security ( very expensive electric guitar ) for a small loan ( 1/4 the value of said security ) this morning.
The loan was 0% interest, because its a friend and its the first time... but they know the rules as they were written out on paper.
After this transaction, they will have "earned" their credit with me, and so long as they put up security in pledge, they will get all the cash they need for whatever in the future.
Problem exists: Unsecured loans made by a consortium of creditors who work together to ensure their return by rating your past performance hinders your future credit worthiness ( rated by them for them )...
Yet, if the debtor has nothing to lose ( no pledged security ) they can easily walk away... but since usury is legal and promoted among moneymakers and used as a tool of enslavement ( the economic slavery ), they can attach further debt to your name and further deepen your financial hole in the ground....
Yet, if we lend to each other with secured items, then if you stiff your lender friend, you really lose and deserve to, right?
I don't think credit is that bad / evil... just the misinformation or lack of financial education available to credit users. Or more so the lack of effort an individual makes toward educating themselves regarding the issue of fiscal learning.
There should be a class or some kind of prerequisite prior to taking any credit or making a purchase by way of credit aside from economics; a separate business class teaching only credit.
Credit has been used to start a business, get out of debt ( true ), and other things... but most fall into an ignorant pit of seeing credit one-dimensional.
I'm going to return someone's security ( very expensive electric guitar ) for a small loan ( 1/4 the value of said security ) this morning.
The loan was 0% interest, because its a friend and its the first time... but they know the rules as they were written out on paper.
After this transaction, they will have "earned" their credit with me, and so long as they put up security in pledge, they will get all the cash they need for whatever in the future.
Problem exists: Unsecured loans made by a consortium of creditors who work together to ensure their return by rating your past performance hinders your future credit worthiness ( rated by them for them )...
Yet, if the debtor has nothing to lose ( no pledged security ) they can easily walk away... but since usury is legal and promoted among moneymakers and used as a tool of enslavement ( the economic slavery ), they can attach further debt to your name and further deepen your financial hole in the ground....
Yet, if we lend to each other with secured items, then if you stiff your lender friend, you really lose and deserve to, right?
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