CREDIT CARD POKER--THE AMERICAN PEOPLE ARE THE BIG LOSERS

[WatchAnyVid]

You have a nice point. Americans need to see this common sense.

[jdelaney82]

This guy is clearly drunk as f*** sitting in a 8 by 8 apartment with a bottle of Jack that he bought on a credit card!! The reason he is ranting is because he spent thousands of dollars he didn't have and now he is pissed that he is getting charged high interest!! Well dumbass, if you couldn't pay the money back on time you shouldn't have charged it!!!! 1 less bottle of booze a week would have saved you a lot of interest!! :)

[Anothercoilgun]

If you have an emergency, use your emergency fund. "But I have no emergency fund!" you say. Well of course not. Thats because you forfeit it to the credit companies. Each time you pay interest on the card (even after one day of usage, there is no pay within 30 days for zero interest, it does not exist) you are giving part of your emergency fund to the credit company. How many months and how many years have you been doing this? Think of the size of that fund had it existed.

[jdelaney82]

you're an idiot

[77sporty]

the banks need a lesson on lending and screwing people. everybody should stop paying them. that should teach them. this guy is right. credit cards suck.

[MTXSHO9732vV8SHO]

The Moral of the Story.

DON'T 'BORROW' MONEY FROM CREDIT CARDS TO PAY FOR SILLY SHIT YOU CAN'T AFFORD!

STOP FUCKING OVER-DOING IT AND LIVE WITHIN YOUR FUCKING MEANS

STOP BEING A TYPICAL AMERICAN CRY BABY PUSSY AND BLAMING EVERYONE ELSE FOR YOUR CORNY, BITCH-ASS PROBLEMS

TRY TO BE HAPPY WITH GETTING YOUR 'NEEDS'(food,shelter,water, transportation) MET AND STOP DWELLING ON GOOFY SHIT YOU DON'T NEED!!!

I am so HAPPY when an IDIOT goes broke overdoing it on credit! WAKE UP HOES!

[shakaama]

i don't own a credit card. i have in the past. but for the past 10 i haven't.

[CREDITTHIS]

I think credit card companies need to respect people.

[RareMusicVideos]

A very simple personal income formula - DO NOT LIVE BEYOND YOUR MEANS Credit cards should ONLY be used in mainly emergencies where cash may not be available or you need to put a down payment like at a hotel etc. Buy something 1x month worth $30-$50 max. Then pay it off the next month. It keeps your credit active & history consistent. A trick: Call your CC company and say you want to move your balance to another CC with a lower rate. Ask for a interest rate reduction - and they will do it.

[hommeboy85]

This is a good video. People need to be educated about the risks involved with credit card use. I am mostly in agreement with the points you have made. However, credit cards are not inherently evil. Even if legislation is not passed to change the way the credit card companies operate, it is possible to use credit cards in a useful way simply by better educating people on responsible spending. Good video.

[MTXSHO9732vV8SHO]

People need to stop fucking being stupid. We'll all be alot better off when a certain percentage of people understand that the world does not revolve around their spoiled asses and they should SEPERATE their "Wants" from their "Needs"!

If they knew how to do that, they wouldn't give a flying fart about this video AND they would stop having so many bullshit problems with life in general! America has raised a generation of ignorant, arrogant, attention starved, silly ass, trifling Pussies.

[jdelaney82]

moron

[idahodad1]

Stay out of debt!

[ruespieler]

Do you have this in text form? Would like to see it mailed around..., sent to newspapers, etc.

[normanspinrad]

Unfortunately, no text, it was a straight rap. But the audio might be radio stuff.

[ruespieler]

Thanks - I really appreciate this. Gotten in a bit deep myself. People need to know how it is. Keep it up!

[charlessmyth]

This is what happens when paper 'fiat' money replaces gold. The UK's Northern Rock customers want to withdraw their money and place it another bank. Won't work. They would have to covert the paper money into property, which is difficult because of property rights being undermined by government in favour of Human rights as fiat rights. Americans owe something like $44-trillion.

[charlessmyth]

Credit card marketing is very persistent here in the UK,too, but not quite as pushy as in the U.S. In addition, credit cards are part of the complicity of the government, the central banking system and the banks, which is why governments will not be legislating too much against any aspect of the credit system.

[normanspinrad]

Yeah, but in the US, the huge debt overhang is endangering the banking system itself. If people can't carry their debt, it doesn't matter how much interest the banks try to charge. Right now this is happening with mortages big time (in Britain too?)and credit card debt is even worse.

[normanspinrad]

People who won't be able to keep up the payments shouldn't have credit cards. And 10% above the prime rate would give the card companies a healthy profit.That's over 18% at the moment, I believe.

[charlessmyth]

Furthermore if legislation as a remedy was too limiting, those who would currently qualify for a credit card and were able to maintain the payments without incurring penalties, would not be able to get this service at all.

[charlessmyth]

My impression from the video was that aspects of the contract were deliberately buried in reams of fine print and arcane terminology so as not be in conflict with contract law. If so, legislation would be helpful if it outlawed this practice in favour of clearly specific and up front declaration of what the offer and conditions are. Beyond that, accepting a card is a voluntary act subject to the law.

[normanspinrad]

This is all true, but living outside the US, Charles, you probably have no concept of the aggresive marketing of credit cards here. I get 3 or 4 such offers a day in the mail, and that is not unusual.

[normanspinrad]

Legislation should ALWAYS be tied to votes, rather than money, as the horrid new bankruptcy law Congress overwhelmingly passed so blantantly was.

[normanspinrad]

The legal system has in effect already ruled, tens of millions of times that these contracts are legally valid. No judicial system can be better than the laws it is called upon to adjudicate. Several states have already legally capped credit card interest, and that is enforced. Needs to be federalized. Legislation

[charlessmyth]

The legislation idea tied to votes, etc., is not a good one. It would be better for the legal system to refuse to rule in favour of the card company if the contract is not presented in a clear fashion and countersigned by a card holder's legal/financial advisor. Contracts work, legislation is counterproductive.