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<p>[QUOTE=&quot;fools_gold, post: 708102, member: 20669&quot;]I agree with you on the most part. Here&#039;s my take on things:</p><p><br /></p><p><br /></p><p>1) I&#039;ve always been conservative, and fiscally responsible. I don&#039;t know why, it&#039;s just been the way I am ever since I was little, no one really instilled it on me. It just seemed common sense. I only own 2 credit cards. I&#039;d love to own just one, but I think it&#039;s smart to have two for emergency purposes. </p><p>Anyways, neither CC has any debt on them. I use mainly 1 credit card for all of my transactions because they are paid off every month. Not 1 cent left for them to collect interest on. It makes life easier using a CC.</p><p>You also get protection from purchases, as well as cash back rewards. It&#039;s a win win situation for people like me.</p><p><br /></p><p>When I hear constantly on the news about the average person owing $8,000 - $10,000 in CC debt. I have an extremely hard time understanding how anyone can let it get out of hand. It just seems so illogical to me. Of course, you&#039;ll then have those super sad stories of people with $60,000 in CC debt. From what credit card to another, a revolving door of debt!!!</p><p><br /></p><p><br /></p><p>2) The bankers KNEW that people can&#039;t control themselves. It&#039;s human nature for the mass to over spend, and over buy. Easy cheap credit is basically a drug for the consumer. And the majority of people fell for it, hook line and sinker. At some point they knew that things would get out of control, and guess what, who gets the bailout? Not us...but the bankers!!!</p><p><br /></p><p>So why NOT lend out your credit to people, collect what you can, ruin people&#039;s FICO scores, because at the end, YOU(the banker) will get the bailout, you will get your money either way...</p><p><br /></p><p><br /></p><p>3) If the majority of the people were financially intelligent, it would be heck of a lot easier to pay for bills. BUT, I have to admit, even I shake my head at all the expenses that are out there. My cable bill alone is $125 a month. It&#039;s the triple play plan internet/cable/TV. And it&#039;s the most basic plan as well. No movie channels, nothing special. </p><p>My cell phone bill hovers $85-100 a month. Again, nothing special either. I pay an extra $5 for txt message &quot;privileges&quot;.</p><p><br /></p><p>So anyways, back to the point, prices have gone up. Typical run to the grocery store is not cheap anymore. So I can only imagine how anyone can pay the bills that I pay(and more), trying to &quot;live&quot;, while having major CC debt. It&#039;s almost an impossible task...</p><p><br /></p><p>And these are the LAST people to even be thinking about buying gold/silver to hedge against inflation/preserve purchasing power. </p><p><br /></p><p>Not only is it not in their way of thinking, it&#039;s just not financially feasible...[/QUOTE]</p><p><br /></p>

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