Ballooning Household Debt

Small household debt

Banks putting out warnings about world wide ballooning household debts. Do not blame households, put the blame squarely onto the shoulders of advertisers using (one could almost say) criminal marketing techniques. Who needs three automobiles, when they are barely even driven ? Then, why all this advertising of ZERO PERCENT DOWN ? (whatever that means ?). When in fact normal intelligent people know that ZERO percent could become EIGHTEEN percent annually interest, once that kicks in.
While we are at it, why not blame today’s ready access to all sorts of advertising media. Including also illegal via home telephone calling machinery. Most customers and ordinary folks are easy prey to those (marketing) predators, while others only buy what they need. Which would immediately reduce their household debt by eighty percent. [The last category including myself. Zero debt.]

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Banks and your money

We all know that the Banks own our money. Else they would not reside in big ‘crystal fairy-tale’ palaces. You think – according to your statements – that you own a certain amount of money safely tugged away in some Bank. Not so.

Try this: Walk into your Bank and ask for all of your money (let’s say you have over 30,000 in your account) in cash. Big suitcase full of cash. Cannot be done. Although you paid cash (your hard earned money) to put into that Bank for safe keeping.

Of course, if funds are tied up in some fixed-term interest bearing instrument, then you cannot just ask for its return. But let’s assume, the money just sits somewhere and according to the Bank’s promises is accessible to you.

Case in point: I am on my death bed in hospital and I intend to not leave any money behind. I ask a hospital official to get the necessary papers (from my Bank) for me to sign, and others to counter sign and witness , requesting all of my funds to receive IN CASH and bring back to my hospital bed. Intent, to safely burn all that money.

I assure you, I won’t succeed. There will be a hundred thousand reasons quoted by that Bank to hold on to my money. Of course, one can always keep one’s money in cash under the mattress. Just be sure there is no break and enter event or a fire burning it all down.

But as it is, the money sits in some Bank, earns a low interest (for the Banks to use and invest at higher rates for themselves), and adding to your required income tax bills.

Easy Mortgage Money

Nothing easier than that. Most big Banks are running after you and literally glue themselves to your behind in order to shove a mortgage (or loan) down your gully. Why ? You don’t even have to be a psychologist to understand the common human psyche. Greed, greed, greed. Most people want to have what the neighbor has, and they want to have more of everything. For that, one needs money. Although there are now a larger number of millionaires walking the streets, the basic assumption still applies: “Most consumers do not have enough money for what they want.” Even if some guy had a million, how on earth can anybody expect that poor little bitch to actually live on a lousy million ? No, no. He wants two million, at least. That is where the Banks come in. Please, Mister (being already deep in debt) take out a loan or a mortgage, we offer fab rates – today’s special – like under 3% variable, not bad. At the same time the Banks do not give a rat’s ass if a person can actually pay a loan. They know, sooner or later payments are due and the borrower is up to their eye balls in debt. Cannot pay. Take out another loan to cover the first loan. Why not ? Or loose whatever you bought for that loan. Goes back to the Banks. Debt, debt, debt. Nobody seems to care, because life is short and borrowers want to live to the fullest – WITH OTHER PEOPLE’S MONEY. Man, am I glad. I am the richest person in the world. I don’t have debts. Even if Mr. Google – when opening my Gmail – offers me dozens of different mortgages (as ‘side ads’), based on my e-mail (sent or received) which some of them may be from somebody I talk to about “what my plans are” blah, blah, blah – about HEH ! I may be interested in some mortgage. There you have it: Not interested in what the Banks want to shove down MY gully !