World’s rich shrug off credit crunch - Page 2 - Mercedes-Benz Forum

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post #11 of 27 (permalink) Old 04-21-2008, 09:46 AM Thread Starter
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Originally Posted by Difflock View Post
Sorry Bear
Repeat after me
"the poor will always be with us"
depending on how one defines "poor"
I appreciate our wee country is different to yours and others but human nature remains constant imho.
there are those who do not wish to be inspired / are incapable of being inspired, but hey they can still breed ( more of the same )
And they breed at much higher rates than the population at large...

Don't believe everything you think
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post #12 of 27 (permalink) Old 04-21-2008, 09:54 AM
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The main reason the vast number of those who are neck high in debt is that they buy things they don't need/afford to impress people they don't even like.
If you can't afford to pay cash for it, then you can't afford it. It's that simple. Why is this such a bad concept to people? Why can't they just SAVE the money to get what they want? My wife and I haven't carried debt, other than the house, in years. There's no telling how much money we've actually saved, in interest charges alone, saving and paying cash for everything. It's really amazing how much a person spends if they don't actually see an up to the minute balance sheet. That's why I don't like credit cards.

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post #13 of 27 (permalink) Old 04-21-2008, 10:01 AM
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Originally Posted by cmitch View Post
The main reason the vast number of those who are neck high in debt is that they buy things they don't need/afford to impress people they don't even like.
If you can't afford to pay cash for it, then you can't afford it. It's that simple. Why is this such a bad concept to people? Why can't they just SAVE the money to get what they want? My wife and I haven't carried debt, other than the house, in years. There's no telling how much money we've actually saved, in interest charges alone, saving and paying cash for everything. It's really amazing how much a person spends if they don't actually see an up to the minute balance sheet. That's why I don't like credit cards.

You......You.........You keeping up with the Jones fearmonger you..............
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post #14 of 27 (permalink) Old 04-21-2008, 10:03 AM
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Quote:
Originally Posted by Difflock View Post
Sorry Bear
Repeat after me
"the poor will always be with us"
depending on how one defines "poor"
I appreciate our wee country is different to yours and others but human nature remains constant imho.
there are those who do not wish to be inspired / are incapable of being inspired, but hey they can still breed ( more of the same )
It's just like the fat bastard that lives next to me. So long as he's drawing a disability check, what will ever inspire him to get off his fat ass and do something productive? Instead, he contributes to his disability by lazing around.

Hell, my grandfather had a neighbor with a peg leg and a hook. He didn't let it stop him from getting on a tractor and providing for his family. Disability and welfare are good programs when used properly, but they're rarely used properly.

2005 S430 4Matic 'Morton' W220.183 722.671 Rest in Peace

Bells and whistles are thorns and thistles.
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post #15 of 27 (permalink) Old 04-21-2008, 10:07 AM
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Originally Posted by Jakarta Expat View Post
You......You.........You keeping up with the Jones fearmonger you..............
LOL!
Oh, how empty my life would be
if my worry was what other's thought of me.

2005 S430 4Matic 'Morton' W220.183 722.671 Rest in Peace

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post #16 of 27 (permalink) Old 04-21-2008, 10:17 AM
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LOL!
Oh, how empty my life would be
if my worry was what other's thought of me.


Exactly that keeping up with the Jones's is a bunch of crap. Wife and I do have and use credit cards but ONLY 100% direct debit from our accounts and I always have a running total for the month in my head that is within 5% of the actual total.
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post #17 of 27 (permalink) Old 04-21-2008, 11:45 AM
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Originally Posted by Difflock View Post
Sorry Bear
Repeat after me
"the poor will always be with us"
depending on how one defines "poor"
I appreciate our wee country is different to yours and others but human nature remains constant imho.
there are those who do not wish to be inspired / are incapable of being inspired, but hey they can still breed ( more of the same )
No doubts that there will always be poor and there will always be those who want to just "take" from the system.

The thing that just keeps niggling at my brain, for decades is that some folks just don't have the opportunity to excel.

I grew up in a very small coal mining town. The heart of what was considered impoverished Appalachia back in the 1960s. Because I had both ambition AND supportive parents who only had one kid, I was able to do Scouts, arts, and pretty much what I wanted. By the time I was 17 I had been to 44 states and 8 countries with both Scouts and the choir of which I was part.

I was also lucky enough to be right at the top of my little class in school. That meant scholarships and/or appointments to Military Academy if I chose. What bothers me, even now was the girl that was also right at the top of my little class. Also in the 99 percentile in ACT and SAT but she did NOT have supportive parents and was one of nine kids. She ended up quiting school a semester short just to help take care of family and make money. Then she got preggers and the cycle of poverty started all over. She could very easily be teaching PhD level anywhere in the world or doing Corporate level work ANYWHERE. Opportunity.

So that is where inspiration comes in. It will never eliminate the poor, never eliminate those who want to use the system. But it will help those who just need the opportunity to get that first step on the ladder. That inspiration that they are able to break away from the traditions of their family, whether in Ireland, Somalia or Appalachia.

And the end result is a more productive, smarter, more active humanity.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.

Last edited by mcbear; 04-21-2008 at 11:48 AM.
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post #18 of 27 (permalink) Old 04-21-2008, 11:57 AM
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Originally Posted by cmitch View Post
The main reason the vast number of those who are neck high in debt is that they buy things they don't need/afford to impress people they don't even like.
If you can't afford to pay cash for it, then you can't afford it. It's that simple. Why is this such a bad concept to people? Why can't they just SAVE the money to get what they want? My wife and I haven't carried debt, other than the house, in years. There's no telling how much money we've actually saved, in interest charges alone, saving and paying cash for everything. It's really amazing how much a person spends if they don't actually see an up to the minute balance sheet. That's why I don't like credit cards.
VISA and Mastercard have done a wonderful job of providing a drug for the American people since the 70s. Easier and easier to get credit and easier and easier to pay the minimum payments monthly. So many people fall into that trap. It is staggering.

I talked to a friend who got a windfall last spring. He used in to pay off his credit card debt - all $90K of it. I asked how it got that high and his answer was that it just crept up. And the monthly charges kept adding and once he got behind ONE MONTH, the rates went from 14% [which is high enough] up to 29% on most cards. He didn't realize for months. [do a quick calculation of 29%APR on $30-45K of debt - It will shock you how fast it will double]

Going cash only [or credit card and pay off monthly which is how I do it] is the only way to deal with purchases. I really like the benefit of transmitting one payment a month for expenses. It shows just how much I spend on eating out or travel and stuff.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #19 of 27 (permalink) Old 04-21-2008, 06:05 PM
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Originally Posted by mcbear View Post
No doubts that there will always be poor and there will always be those who want to just "take" from the system.

The thing that just keeps niggling at my brain, for decades is that some folks just don't have the opportunity to excel.

I grew up in a very small coal mining town. The heart of what was considered impoverished Appalachia back in the 1960s. Because I had both ambition AND supportive parents who only had one kid, I was able to do Scouts, arts, and pretty much what I wanted. By the time I was 17 I had been to 44 states and 8 countries with both Scouts and the choir of which I was part.

I was also lucky enough to be right at the top of my little class in school. That meant scholarships and/or appointments to Military Academy if I chose. What bothers me, even now was the girl that was also right at the top of my little class. Also in the 99 percentile in ACT and SAT but she did NOT have supportive parents and was one of nine kids. She ended up quiting school a semester short just to help take care of family and make money. Then she got preggers and the cycle of poverty started all over. She could very easily be teaching PhD level anywhere in the world or doing Corporate level work ANYWHERE. Opportunity.

So that is where inspiration comes in. It will never eliminate the poor, never eliminate those who want to use the system. But it will help those who just need the opportunity to get that first step on the ladder. That inspiration that they are able to break away from the traditions of their family, whether in Ireland, Somalia or Appalachia.

And the end result is a more productive, smarter, more active humanity.

Does this mean you wil sing at the BWOT Spring Meet?
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post #20 of 27 (permalink) Old 04-21-2008, 09:39 PM
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Does this mean you wil sing at the BWOT Spring Meet?
Hard to tell. I would think, maybe... NO.

I have spent the last few decades intentionally maiming the lyrics to songs so that now I really don't know the real lyrics any longer. It provides ample earworms for everyone who can no longer enjoy their favorite songs.

McBear,
Kentucky

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