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Another sign of an economic apocalypse

Discussion in 'Political Discussion' started by reflexblue, Mar 24, 2008.

  1. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    http://news.yahoo.com/s/nm/20080324/bs_nm/usa_housing_paydayloans_dc
    More and more people are using pay day loans to pay on their mortgages. At 800% if you took the full two weeks to paya $325 loan back it would cost $793, at those rates somethings gotta give. Maybe a trip to the local loan shark would get them a bettr rate, or more time.
    Last edited: Mar 24, 2008
  2. weswelker#83

    weswelker#83 Rookie

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    How can you let a business like this rob citizens of your state , that's something i can NOT comprehend.
    400 percent interest is a crime against the people of USA.
  3. Stokes

    Stokes Rookie

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    That's true, but they'd have more to pay than late fees if they don't make a payment with the loan shark!
  4. weswelker#83

    weswelker#83 Rookie

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    I agree that people should be responsible with their choices , but this kind of business is not welcome at all , it's not gonna help at any way , so why let it happen ?

    It is like you know heroine is bad , and you legalized it , and you know that people will get killed or addicted to that drug.
    Last edited: Mar 24, 2008
  5. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    I think the goverment should crack down on this. To millions of people using credit is to easy. Because its not like they're seeing the cash taken out of their hand. Many people want to have all the little goodies they see others have,or see pimped on tv. And the only way they can get that goodie is to use credit. That goodie may take the form of a house. Now some people on this board will say its their own fault, they borrowed the money,and thats true. But as can be seen now letting TO many irresponsable people borrow money and not pay it back is coming back to bite the economy. Its effects for everybody.
  6. weswelker#83

    weswelker#83 Rookie

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    Exactly , and it is explained in depth in this link:

    http://www.patsfans.com/new-england-patriots/messageboard/showthread.php?t=80055
  7. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    I think next year with Bush and friends gone? that not only will countries around the world offer help in solving the problems in the M.E. But oil co's, banking and credit companies will not be so bold. Will may see fuel prices drop some, and lenders held responsable for their preditory practices. Along with working on bring the country wich was raped by this administration back to normalcy. But it won't be easy,and it won't be quike. Remember if its a Democratic President the RT will do all they can to dump this mess created over the last 8 years in the Dems lap and do everything in their power to obstruct and hinder the new aminsration.
  8. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    These places are cropping up all over the place, wonder who is behind them??

    From the FTC a rather obscure warning:

    http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt060.shtm

  9. otis p. driftwood

    otis p. driftwood Rookie

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    A lot of people are behind them. I know several investors who've put their money to work in this way. You've got risk, but the rewards are pretty high as well.

    Who let these people buy more house than they could afford anyway? I'm sorry, but the chit that I went through so I could buy a house--and I wound up having to buy a multi-family so I was forced to decide 'do I want to be a landlord or not have a house of my own"...but I got mine before the banks went ape-turd trying to throw money at people.
  10. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Are there any ethics involved?? I suspect that somewhere along the line there are some very powerful people in the economic world involved... their very locations indicate who they are intended to screw.. do not see them in the nice burbs..

    As far the questions of who let these people buy more house then they could afford? It is the buyers fault, but there was a lot of seduction involved by the lenders.. everyone wants a piece of the dream, some take short cuts.. this whole thing has been an economic disaster.
  11. fleabassist1

    fleabassist1 Rookie

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    #12 Jersey

    Economic collapse
    Food Shortage
    War
    Terrorist Threats
    Poverty
    Fathem
    Drugs
    Guns
    Global Warming



    THE WORLD IS F***ING ENDING!!!!!! :bricks:

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