And I may be pissed at you.
I mentioned in a previous post that I was pissed because of the current economic situation. I'm now pissed just a bit more. Banks, in all their wisdom are trying to "forgive" credit card debt.
On one hand, I get why this is important - it will open up those full lines of credit and spur our economy, relieve the millions of debtors that are at the end of their ropes and cause far fewer debtors to default on the debt they have accumulated and thus save the banks money in the end.
On the other hand, I think this is just another bad idea in a string of bad ideas. It won't repossess the big screen TV or the multitude of other unnecessary things that built up that credit card debt in the first place.
The worst part of this plan is that it won't teach anyone a lesson. Nobody will learn that you can't "charge it" forever. Nobody will learn that you can't lend to people who can't afford to pay the bill.
Lets talk about the reason I'm pissed.
It's simple. I'm pissed because I didn't "charge" a new TV, so I'm still watching a 12 year old 32 inch "tube" TV that takes up half the room. While I've been able to "afford" a new TV for a long time, I have been waiting to purchase one until the prices came down and it made more economic sense or until the current TV broke. "Charging" a new 1500.00 flat screen on a credit card seemed foolish. Now I feel like such a fool for being so fiscally responsible.
Had I known that I'd be able to charge that TV and not have to actually pay it off, that it would ultimately be as much as 40% off, I would have charged up every card that I had.
Of course, I feel like double the fool because all the money that I was not spending on TVs and home appliances went towards investments that are now down.
So, I'm just a little more pissed.
But this time, I think I have a solution:
I should go run up my stack of unused credit cards, take out a home equity line and buy a lot of things that I can't afford. It's the new American way, and I can't believe that I've been blind to it for so long.
p.s. Still have a credit card? Are you one of the few, the proud, the over chargers that will get "relief" from the "unjust" credit crunch where people "tricked" you into borrowing more money than you could afford to pay back?
Paypal me $1500.00 so that I can buy a new TV.
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