The Debt Trap

[debtcc]

Stop excessive use of credit cards. 

[HarveyRex23]

One of the many "debt traps" in this predatory capitalist system is someone having to borrow money to go to college. Because he/she simply can't afford it w/ their incomes alone. The most expensive colleges doesn't necessarily mean they're the best. Money= Debt & Economic Slavery. Banks simply create money out of thin air in the form of credit cards & other loans. Another form of debt trap is having to borrow more money from the bank in order to purchase a house. Etc.

[OZRIC1985]

Many people have become indentured servants because companies purposely don't pay people enough to actually support a family. In too many cases they make it to where both parents have to work just to make ends meet. This is the root of the problem as far as I am concerned....

[killwhitey88d]

"the borrower is a slave to the lender", Were all slaves then to God, since he leant us our bodies. The bible is gay

[seka1986]

CASH IS KING!

[musicgeek3]

everyone who watches this they should watch

Dave Ramsey on How To Be Financially Successful

[SCTproductionsJ5]

Too bad Obama doesn't get this!! Doesn't OBAMA know one can't stay too long on credit without going down the drain...and US is in it! Thank you for your program!!

[randy95023]

In College my daughter ran up credit card debt, but she did it responsibly to support herself through the "starving college student" phase of the Junior/Senior year of college. When a school kid is trying to live off of about $1,000 per month $10K seems like a fortune. Now her and my son-inlaw make over $10K per month and the amount seems trivial. Used responsibly college students can wisely use cards and they are basically a Godsend. Used irresponisbly, however, they're a nightmare...

[brentrobertson1]

credit cards a bad mmmm k...

[FaithfulAndTrue1]

Oh yeah? What do they do?

[commodore256]

It's a Trap!!!

[brad111515]

Did i hear this right... When god wrote the bible he told us to save our money?

[phredhead]

"Why did you give my son a credit card?" Why did your son accept it? That`s the problem. Obama said "people are losing their homes through no fault of their own". Huh? Whose "fault " is it? We`ve got to accept responsibilty for our actions.

[dirtyniggeronpcp]

Well put, buddy. We're so easy to blame others when it's clear that you run your own life and make your own choices, essentially you control your own destiny. Obama is playing on that, and for that he's a Socialist weasel that must be stopped. I don't like McCain, but goddamn, he's certainly more logical than Obama and Hillary.

[wrongheadedfool]

@phredhead I agree, but I think that just as these individuals need to take responsibility for their actions, so too do the companies enticing them. They know how many people are being swindled, yet they continue to engage in immoral business practices. It takes two to tango, as they say - and anyone who profits by preying on fools needs to be punished, or at least taught to be moral, decent human beings.

[fantasy86dj]

I think that this video is very informative, about ways to reduce debt and how we can change our spending habits.

[machinationation]

Just turn off the T.V. , cook your own simple meals and practice financial discipline. Exercise is free , try that. Don't buy a car unless you can afford it. Simple. Math doesn't lie. Greed always has a terrible return.

[cdltpx]

@machinationation Amen I just paid off my home we live within our means. We have new cars not cause it is sheik but we know what we have they have been maintained properly by me. We have toys like boat got that 2nd hand Y pay retail. Have a camper trailer too but it is 40 years old it is water tight still we only paid $2k for this. It's not having what you like life is more about liking what you have. If I get a job somewhere else I can take the camper set up and earn money. But we are ok here.

[ResidentRetro]

@cdltpx what a great way of viewing things. " Its not having what you like, Its liking what you have." Thanks for sharing that dude.

[dan020350]

There is only debt when justice is not served, and if the gov't is not a just one, the debt is infinite

[dickenine]

There's a guy who had been a researcher in Belgium...RichardTrekkerTheII.­..who was banned and forced into exile for uncovering the truth in Africa. He posts videos from exile about his findings, believing that the truth needs to be discussed now. The videos have changed my life.

[lexelence]

Try STUDENT DEBT KILLER program as seen on YouTube

[cdltpx]

Pyramid scheme!

[cdltpx]

Student debt killer is a pyramid scheme.

[lexelence]

What do you mean by Pyramid scheme?

[cdltpx]

You have you comments on your site disabled you don't allow comment on your video if you are so righteouses allow freedom of speech. The divide is getting so great we are going to be dirt farmers anyway as fuel prices raise we will be cultivating ground personally because food prices will have to raise with fuel. As for you E-mail Wal-Mart is a publicly held corporation they are going to make money because there is more safety in a regulated market.

[lexelence]

I disabled it because every time I tried to reply to comments, they wouldn't post. I don't know if I am doing something wrong. As for Walmart, the corp structure is exactly a pyramid. You move up the ranks in relation to how hard you work and how successful you are. What about Enron, World Com and a bunch of others who are publicly traded companies. They screwed tons of people out of their fortunes. Will people stop trading stocks as a result? MLM is regulated by the Direct Selling Association.

[cdltpx]

20/20 60 min all have done stories on these they usually pop up in religious institutions and are plied on the ignorant gOOgle the phrase and you don't have to ask me you have a wealth of information.

You find a book online you can go to the library get an interlibrary loan for any book your library don't have.Some times I look up the best price and they will actually buy that book if they can't locate it I try to take as much work out as I can. Have the ISBN # and any information onbook.

[cdltpx]

Look up the definition and watch your video you will see the uncanny similarities in the definition. Those schemes are set in place to reel in the ignorant and at one point it all comes down and the top guy walks with all the proceeds while the lower ranks wonder what happened. Thumping a Bible to justify tour business don't fly with me the bible is great it is the religions I hate the religions use the bible to get the masses to vote for BUSH a Saudi bought CIA peon that don't work for USA.

[MiranUT]

I'm not into organized religion, but I find it interesting that all the major ones preach that usury is a sin.

[mthargoe]

Usury is both a moral and practical problem....Watch Money as Debt and Money Masters on Google Video for more info

[bluzy25]

God will only help you donate your 15% to the church! Live with in your means and you will be alright.

[AttorneyDoan]

As a consumer financial advisor, I have found that Chapter 7 Bankruptcy is the the only plausible solution to the majority of clients I counsel.

[Stan1208]

I get at least 5 new offers for credit cards every week. The trees used to make these would make Al Gore weep. Al Gore worships trees.

[zloben9000]

that is the fundamental FUTURE of TV !

only without god.

[gbs130]

very informative

[winterpeger]

Buy, buy, buy America. You'll be the first 1st world country too become a 3rd world country.

[ravageiwise]

Don't say that bro. If they go down the question will be how do we stay afloat. They better vote Ron Paul or America will be in mega trouble...

[IBMeddling]

Cash is king!

[AlaskanGirlForever]

I agree...it's a matter of self discipline. And most just don't have it today. It's really too bad. I agree...there will more than likely be a depression soon. I've been saying that for a couple years now.

[slbrown50]

it's not about credit cards though, it is about personal discipline. i use a credit card for every single thing that i do including groceries because i get miles. i pay the balance. the other people make it possible for me t have free credit cards. thank you all.

[landyowner]

this would have been good until they started talking about God. =-/

[graduate24]

Why do you say that? You can believe what you want, but if you don't believe in god than what keeps you going, and who made all of what we see? The guy talking is a preacher so it would be hard for him not to include god right, anyway have a great day.

[boobbbers]

You can believe what you want, but I believe the problem with humanity is the natural desire for necessity and purpose. Who made all what we see? Who made the blind man? Go get Jesus for him so he can see. Too bad Jesus is "next to God" enjoying heaven.

[boobbbers]

I agree. God has no relevance to our economy or can help at all with your finances and debt. Right from the intro I knew this was an evangelical infomercial. Decent information though.

[wmartinz]

he is a pastor - besides the best financial advice can be found in the Bible -

[shark97]

Pretty informative Stuff.

[mwuttke]

Good program, well worth the time. I'll sum it up SPEND LESS THAN YOU MAKE!

[bulltraderpt]

There WILL be a depression in the US, which will spread to the rest of the world. This will be directly linked to 'Debt'.

Enjoy the present, because the future could well be much worse than today.

[kieronj]

hey could you explin this further to me man? in detail? cheers bro

[FossilRock]

Research "Commercial Redemption" and discharge your debts instead of trading your hard earned money.

[gofast925]

people have no clue on the repercussions of all this debt...but they will...and by then america will be all but gone...