What is your "Debt Free Date"

[ultrarunner]

Running Credit Checks I was surprised at how many prospective renters had a Bankruptcy on their record... would run into several a month back in the day.

One problem that was really a shock is the number of parents/family members that would use a child's social security number to establish credit... especially for utilities, cable, and consumer credit too.

Not unusual to have a 20 something individual apply to rent and find pages of charge offs and then looking at the details find many of the charges were when the child was a teen or even younger...

Talk about child abuse... you can't choose your parents.

The most common "Legit" Bankruptcy I would see would be either medical bills or judgements...

Sometimes a person's credit score would actually improve after Bankruptcy wiped the slate clean.

A return of traditional lending which required a 20% down payment would do wonders to reduce real estate risk.

Part of the method of allowing no down or little down when home buying was due to the Private Mortgage Insurance requirement when less than 20% was put down...

Funny how all the PMI premiums collected didn't protect lenders when you know what hit the fan.

Not counting the national debt... we all start out debt free. It takes effort to accumulate debt and I do think children, for the most part, learn to be thrifty or not from their up-bringing.

As Hop A Long Cassidy would say... "It sure is a fine pickle we're in"

 

[EddieWalker]

An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.
The professor then said, "OK, we will have an experiment in this class on Obama's plan". All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.... (substituting grades for dollars - something closer to home and more readily understood by all).
After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little..
The second test average was a D! No one was happy. When the 3rd test rolled around, the average was an F. As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else. To their great surprise, ALL FAILED and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed. It could not be any simpler than that.
Remember, there IS a test coming up. The 2012 elections.

These are possibly the 5 best sentences you'll ever read and all applicable to this experiment:
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. You cannot multiply wealth by dividing it!
5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.

 

[lilranch2001]

An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.
The professor then said, "OK, we will have an experiment in this class on Obama's plan". All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.... (substituting grades for dollars - something closer to home and more readily understood by all).
After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little..
The second test average was a D! No one was happy. When the 3rd test rolled around, the average was an F. As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else. To their great surprise, ALL FAILED and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed. It could not be any simpler than that.
Remember, there IS a test coming up. The 2012 elections.

These are possibly the 5 best sentences you'll ever read and all applicable to this experiment:
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. You cannot multiply wealth by dividing it!
5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.

I think this is one of the clearest indictments on socialism I have ever read
Thanks Eddie!

 

[two_bit_score]

Amen, Eddie.

 

[300UGUY]

An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.
The professor then said, "OK, we will have an experiment in this class on Obama's plan". All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.... (substituting grades for dollars - something closer to home and more readily understood by all).
After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little..
The second test average was a D! No one was happy. When the 3rd test rolled around, the average was an F. As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else. To their great surprise, ALL FAILED and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed. It could not be any simpler than that.
Remember, there IS a test coming up. The 2012 elections.

These are possibly the 5 best sentences you'll ever read and all applicable to this experiment:
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. You cannot multiply wealth by dividing it!
5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.

Eddie, this POS has been drifting around the net for years. I read this thing when Bush was in. At least get something real.

 

[Loren49]

Beppington - How about $125,000 returned. :laughing::laughing:

My point was that very few of us, at least in an indirect way did not benefit during the bubble. Most of us did not directly take part in creating it but many profited from the policies - that's why they were popular with many. I had no direct involvement but the interest rates on my savings and investments may have been up a bit and I believe that my NYS Teachers Pension System profited in some way. It would be difficult to draw a line and put the innocent on one side and guilty on the other.

Loren

 

[Larry Caldwell]

An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.
The professor then said, "OK, we will have an experiment in this class on Obama's plan". All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.... (substituting grades for dollars - something closer to home and more readily understood by all).
After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little..
The second test average was a D! No one was happy. When the 3rd test rolled around, the average was an F. As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else. To their great surprise, ALL FAILED and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed. It could not be any simpler than that.

This would actually mean something if you had given the name of the professor and the name of the school he teaches at. In the absence of any real information, I have to conclude you made it up, just like your buddies in the media make stuff up. The world is full of liars.

Remember, there IS a test coming up. The 2012 elections.

So who are you going to vote for? Ron Paul, or are you voting for one of the crooks and liars?

These are possibly the 5 best sentences you'll ever read and all applicable to this experiment:
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. You cannot multiply wealth by dividing it!
5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.

The way we should legislate the wealthy out of prosperity is to get their hands out of the public pocket. Dismantle the Federal Reserve system, which loans banks money at 0.25% so they can lend it to the US Treasury at 4%. Cancel all tax credits and tax deductions for everyone, including oil companies. End subsidies, including subsidies for roads, water projects and disaster relief. Close all US military bases in Europe, get our troops out of any combat operations, and reduce the size of the US defense budget by 2/3. Then raise taxes high enough to pay our bills.

You will find that as soon as they face losing their handouts, the wealthy are as socialist as they come. They have been getting a lot of mileage out of, "You can't cut MY handout, because it would cost jobs." Well, the wealthy do not create jobs. Big business does not create jobs. Jobs are created by small and medium sized businesses, who don't benefit from handouts because they don't get any.

 

[Loren49]

EddieW- I think we all know what happens when too few of a given population possess too much of the wealth. Its not good. There is a balance that is healthy and we as a country should strive for that balance.

Loren

 

[lilranch2001]

man, I would never have guessed there were this many communists in in TBN
:ashamed:

 

[ultrarunner]

This would actually mean something if you had given the name of the professor and the name of the school he teaches at. In the absence of any real information, I have to conclude you made it up, just like your buddies in the media make stuff up. The world is full of liars.

So who are you going to vote for? Ron Paul, or are you voting for one of the crooks and liars?

The way we should legislate the wealthy out of prosperity is to get their hands out of the public pocket. Dismantle the Federal Reserve system, which loans banks money at 0.25% so they can lend it to the US Treasury at 4%. Cancel all tax credits and tax deductions for everyone, including oil companies. End subsidies, including subsidies for roads, water projects and disaster relief. Close all US military bases in Europe, get our troops out of any combat operations, and reduce the size of the US defense budget by 2/3. Then raise taxes high enough to pay our bills.

You will find that as soon as they face losing their handouts, the wealthy are as socialist as they come. They have been getting a lot of mileage out of, "You can't cut MY handout, because it would cost jobs." Well, the wealthy do not create jobs. Big business does not create jobs. Jobs are created by small and medium sized businesses, who don't benefit from handouts because they don't get any.

Might work if we survive the transition...

I think 80,000 people benefit from housing subsidies in my city...

Then there's the deduction for children on income tax and the deduction for taxes paid to other agencies.

Where to begin...