[meteorite-list] Meteorite sales falling with the stock
From: Ted Bunch <tbear1_at_meteoritecentral.com>
Date: Mon, 13 Oct 2008 12:31:37 -0700
Well said John! Probably one of the best summaries of why there is a credit
problem. A few months ago a news item came out that said the average credit
card balance was ~ $8000+. Add that to a car payment and the mortgage and it
is a no-brainer to understand Main Street's credit problem, which of course
led to the greed of lending institutions. There is "no cure for stupidity".
I went into Wal Mart yesterday for a flu shot and asked the stabber if she
had a vaccine for stupid and she said no, but wished she did "we could make
On 10/13/08 10:15 AM, "John Gwilliam" <jkgwilliam at gmail.com> wrote:
> We can point finger in all directions and blame a whole basket full of
> politicians, business leaders and everyone and anyone else. One thing
> we need to address ( in my uneducated opinion) is the over spending by
> the regular folks on Main street. It used to be people saved up
> enough money until they had a 20% down payment for a house and only
> used credit for other items like a vehicle (not two or three) and
> education. These days, many of us citizens make purchases on credit
> that we really can't afford. after all, why do we put "thing" on our
> credit cards? Because we don't have the cash. Optimistically, we
> always believe our financial outlook will be brighter in the future
> and we'll be able to pay off the credit card quickly. Sadly, it's
> that's usually not the case.
> Those of you who are my age (56) or older might remember the "lay
> away" plan that many department stores used to have. You went into
> the store every week or two and paid five or tens bucks on an item
> they were holding for you. When you paid for the item in full, they
> handed it to you and you had a brand new "thing" - a washer, dryer or
> bike for one of your kids. Nowdays, we put the "thing" on a credit
> card and by the time most of us get it paid off the "thing" is worn
> out or dead and gone.
> It's time for all of us to take a hard look at our spending
> habits...along with who we vote into office and how we use our money.
> Sure, we're in a big mess. But if everyone learns from this mistake
> we can all be doing better down the road weither it's in one year or
> five years.
> John Gwilliam
> On Mon, Oct 13, 2008 at 9:32 AM, <valparint at aol.com> wrote:
Received on Mon 13 Oct 2008 03:31:37 PM PDT