21 Nov 23
@averagejoe1 saidMoney (especially digital money) is a mental construct. Its basis is trust: X amount of money is worth X.
'Stiffing' may be a bit American coloquialism, it means refusing to pay a debt that is owed. I lose $100 to you in a card game and not give you the money.
So please re-read the OP and it will make sense. I am conjuring up the nature of all of your mates in the USA who are thieving and rampaging and costing us billions of dollars. They are employing the concept of ...[text shortened]... ent! will cover the losses of the banks! This remedy is right up your alley. (another coloquialism).
At the moment nobody trusts that equation anymore, the whole economy slips down the slopes. And since there's nothing there but 0's and 1's... there's nothing to prop it up against.
So, to answer your question, if everybody stops repaying their cred card debts at the same time, your whole concept of the economy is done for.
21 Nov 23
@AverageJoe1
I was just offered a credit card deal with a THIRTY PERCENT credit charge, so I borrow ten thousand and just 12 months later I owe thirteen thou.
Yeah, really great for the credit companies anyway. Of course I HAD to jump on that one.
21 Nov 23
@vivify saidThe OP is a Question. What IF? What if there WERE a mass conspiracy to not pay credit card debt? If you were a guy would go with a mob to steal stuff in broad daylight, you would likely be a person to agree with the national *tiktok mob to all stop paying card debt.... just give the finger to the banks.
Now I don't know what you're talking about. Is there some mass conspiracy to not pay credit card debt?
** I don't know what tiktok is but I believe that it connects up a lot of people, as does facebook, et al. It is used to get everyone to get together at 4:00 in front of Target and charge in. Get stuff that belongs to someone else....as I suggest with my avatar to the left.
21 Nov 23
@sonhouse saidRelax, cause you will never be faced with it. It is a choice. Just dont do it. We dont care what the bank offers. Some losers who were not raised properly will jump all over it, and have the debt which I speak of. Their problem. Good luck with their resume's.
@AverageJoe1
I was just offered a credit card deal with a THIRTY PERCENT credit charge, so I borrow ten thousand and just 12 months later I owe thirteen thou.
Yeah, really great for the credit companies anyway. Of course I HAD to jump on that one.
21 Nov 23
@shavixmir saidCorrect.
Money (especially digital money) is a mental construct. Its basis is trust: X amount of money is worth X.
At the moment nobody trusts that equation anymore, the whole economy slips down the slopes. And since there's nothing there but 0's and 1's... there's nothing to prop it up against.
So, to answer your question, if everybody stops repaying their cred card debts at the same time, your whole concept of the economy is done for.
21 Nov 23
@averagejoe1 saidSo, the question then is: does the current state of digital economics make the revolution easier or harder?
Correct.
@shavixmir saidDoesn't it make Everything easier? Don't get your point. It makes it very easy for people all over the country to go to the site for their instructions, they all getting the same message.
So, the question then is: does the current state of digital economics make the revolution easier or harder?
Yes everything easier. I misplaced my American Express card on Monday, called them, I will receive a new card by Fed Ex before noon today, Tuesday, on my front steps. Takes speed and easiness to do all that. I love this country. Too bad the wild animals can use the internet too.
But, this is NOT the question. Is it not reasonable to assume that a mob, like in Hitler's day, could make non-payment the next target? Imagine. And just last week, I was imagining the aliens finding the supermarkets with all that food laying all over the place, and just swarming. I don't think you libs get it, I really don't. If that happened I hope the Food-a-rama in your neighborhood closes first. Liberals really need a demonstrative lesson in current events., Got TV?
21 Nov 23
@averagejoe1 saidIf it’s easier, why hasn’t it happened?
Doesn't it make Everything easier? Don't get your point. It makes it very easy for people all over the country to go to the site for their instructions, they all getting the same message.
Yes everything easier. I misplaced my American Express card on Monday, called them, I will receive a new card by Fed Ex before noon today, Tuesday, on my front steps. Takes speed ...[text shortened]... neighborhood closes first. Liberals really need a demonstrative lesson in current events., Got TV?
21 Nov 23
@shavixmir saidYou got me. I just know that none of this license to steal, the college-loan beggars, Smash and Grab, raandom law breaking, it will only get worse. We literally tell them they will not be prosecuted for stealing goods under $900.
If it’s easier, why hasn’t it happened?
You, of all people, know libs always want free stuff, so I think it is logical for them to decide to stiff the credit card companies. All they have to do is organize. Then trade technique ideas. Say, a guy gets a credit card in the mail, does everything right in signing up, no fraud, then maxes out on the card. When they come after him, he says he never had, or lost, the card. Sounds weak, but it is ALL weak, and will go nowhere in punishing these nasty parasites.
22 Nov 23
@averagejoe1 saidIs the person in debt the parasite? Or is the company which profits from the person being in debt a parasite?
You got me. I just know that none of this license to steal, the college-loan beggars, Smash and Grab, raandom law breaking, it will only get worse. We literally tell them they will not be prosecuted for stealing goods under $900.
You, of all people, know libs always want free stuff, so I think it is logical for them to decide to stiff the credit card companies. All ...[text shortened]... , the card. Sounds weak, but it is ALL weak, and will go nowhere in punishing these nasty parasites.
@AverageJoe1
The POINT is some people will and the banks COUNT on it and then enslave them to the minimum pay deal, 50 bucks a month forever because the interest exceeds the minimum so the principle never goes to zero, 20 years later they are still paying.
And for you the banks have no culpability, it is just a sucker is born every minute and tough luck. That is SICK and you know it.
22 Nov 23
@averagejoe1 saidThe last 'mob of hyenas' I saw was at the Capitol, with Donald Trump holding their leashes.
Thankyou, yes, we could apply scenario to students all getting on tiktok and agreeing to join forces, refusing to pay their debts. This might likely work, we would scramble like crazy to do something, I have no idea what could be done against a mob of hyenas. But worse, there are a LOT more debtors with credit cards, so a plan to do that would bankrupt a few banks. It ...[text shortened]... ire them. But you see, they want to live in a communist-type world, hand to mouth. So, no problem.
22 Nov 23
@shavixmir saidThe company only makes it available, as do all retailers in America. Optional to use it or not. There is no parasitic element at that point. Then, when someone signs up, they have free use of it and if they pay it off every month, they thank the bank for the free-to-use card. I love this country.
Is the person in debt the parasite? Or is the company which profits from the person being in debt a parasite?
BUT, BUT, if they only pay the minimum balance each month, they drift (the person who now becomes a borrower and thus pays interest) into parasitic territory. You can reason this from here.
If they just stop cold on paying the debt, they go beyond parasite, and I guess become thieves, in effect stealing the money that they never pay back. Too bad. This goes on their record, I would never hire them. Maybe McDonalds would. Hope they don't have too many kids.
PS: Your post hints of disdain for the bank making a profit. Am I right?
22 Nov 23
@averagejoe1 saidObviously. I would nationalise the banking system.
The company only makes it available, as do all retailers in America. Optional to use it or not. There is no parasitic element at that point. Then, when someone signs up, they have free use of it and if they pay it off every month, they thank the bank for the free-to-use card. I love this country.
BUT, BUT, if they only pay the minimum balance each month, they drif ...[text shortened]... t have too many kids.
PS: Your post hints of disdain for the bank making a profit. Am I right?
People get dopamine rushes from buying things. Is a bank or credit card company, which makes money off people being in debt, abusing this fact?
And if so, is it not parasitic?
22 Nov 23
@sonhouse saidWhat in the World, Sonhouse? If I am in need of money, and you have a lot of money, I will ask you to loan me $10,000. You say OK, and loan it to me at 5% interest. Thankyou, you are doing me a favor, now I can pay rent to keep my family warm. Are we good so far? Jesus.
@AverageJoe1
The POINT is some people will and the banks COUNT on it and then enslave them to the minimum pay deal, 50 bucks a month forever because the interest exceeds the minimum so the principle never goes to zero, 20 years later they are still paying.
And for you the banks have no culpability, it is just a sucker is born every minute and tough luck. That is SICK and you know it.
Am I 'enslaved' by you? I LOVE you for making that money available. It was my choice to borrow it. You may not have even wanted to lend it to me, but I am your uncle.
You COUNT (your word) on me to pay you back. So here we are...If I do not pay you back, can you please continue this discussion as to what you would do if I did not pay you back? Then I will continue from there? (we all know that if I only pay you the interest, which is acceptable, the 'principle never goes to zero'.)