Guys, I had delivered a new credit/debit card so used it when ill in bed.
Then shit hit fan 5 days later ; Card 'Not Yet Authorised' er, whatever? So you have to pay said crap 'overdrawn fees'
Had to explain why, think after calls might be ok, Yeh cost few quid. 
Quote: sootyj @ December 7 2011, 5:16 AM GMTIt actually takes and please note the word ABNORMALLY strong resilience to not sucumb.
No it doesn't. It takes a modicum of common sense and God help us if our youngsters don't possess it.
I feel sorry for the situation your daughter got herself into and very happy she got out of it. But I also feel angry she got into it in the first place.
I was angry that she got herself into that mess but it was nobody's fault but her own. We're in trouble if we can't accept the blame for our mistakes and blame faceless corporations for our weaknesses.
The whole point of advertising is to overcome resistance and implant desire.
It's quite a modern industry and we're only just seeing it's effects.
Spend some time with people who don't watch telly, read magazine or use the internet (sadly mostly hippies and fundies). And check out how massively diferent their attitudes are to the man in the street.
nb with areas where advertising is proscribed or controlled (political parties, fags, booze etc) check out quite how massive the amount of control is that's needed.
True Sooty, but think America 'Social security system' consists of vouchers for supermarkets only, is this true? an individual has no choice? thanks Dabutt.
I think DaButt's getting a raw deal here. Do people really think that adults aren't responsible for the decisions they make? I speak as someone who's twice racked up stupid store card debt (in my early twenties) and racked up thousands on credit cards, paid it off, then done exactly the same again. Twice.
This doesn't speak of a great deal of maturity or common sense on the part of my younger self, but I think the lesson has finally sunk in. Hopefully.*
*He says while looking at his shiny new interest-free for twelve months credit card.
For the past three decades the economic policies of successive governments across the western world have been based upon encouraging unsustainable levels of personal debt as a means of maintaining apparent growth and fostering an illusion of prosperity. Yes individuals must take responsibility for unwise personal decisions but they are entitled to be angry with Governments who deregulated to actively facilitate those decisions, and banks who, pursuing short term profits rather than prudence on part of themselves and their customers, required bailing out by the public purse after building up portfolios of unsupported loans.
Quote: Timbo @ December 7 2011, 11:13 AM GMTFor the past three decades the economic policies of successive governments across the western world have been based upon encouraging unsustainable levels of personal debt as a means of maintaining apparent growth and fostering an illusion of prosperity. Yes individuals must take responsibility for unwise personal decisions but they are entitled to be angry with Governments who deregulated to actively facilitate those decisions, and banks who, pursuing short term profits rather than prudence on part of themselves and their customers, required bailing out by the public purse after building up portfolios of unsupported loans.
*applauds*
As far the company giving the credit making sure the client understands the terms, I'm not sure how they could police it. Some people no matter if they're 18/28/38/48 would just yes. Maybe because they honestly believe they do or don't want to admit they don't understand.
Even if they do understand, your age or lack of doesn't mean you will be responsible in terms of making the repayments. I know people of all ages who are good with money, as well as those who aren't.
Maybe we all need to go live tents in the middle of nowhere, with no electricity and a never ending natural food and water supply.
Of course, the whole deregulation of sensible lending can be traced back to Bill Clinton's desire, as President, that poor people (especially poor, black voters) could get the chance to own their own houses. This laudable ambition led to him remove all the usual safeguards to stop lending to those who simply couldn't afford to re-pay. This spread to the rest of the West of deregulated lending occurred and all the bad debt got bundled-up and resold - incredibly stupidly/mendaciously - as assets.
Although it pains me to say it, as someone who thinks the Republican Party is a bunch of ignorant self-righteous clowns, it was a Democrat who played the biggest role in getting the world into this mess.
It's a pity the people who got us into this mess don't seem to be able to figure a way out of it.
If only we could use the childs idea and print more money. Then we could all go get as much as we need from the magic hole in the wall.
Quote: dellas @ December 7 2011, 9:19 AM GMTTrue Sooty, but think America 'Social security system' consists of vouchers for supermarkets only, is this true?
No, that's not even close to what Social Security is/does.
Quote: Tim Walker @ December 7 2011, 12:30 PM GMTAlthough it pains me to say it, as someone who thinks the Republican Party is a bunch of ignorant self-righteous rednecks, it was a Democrat who played the biggest role in getting the world into this mess.
Yes it is an embarrassment. Chancellor Brown, although essentially well-intentioned, also has a lot to answer for in terms of our domestic problems. There was rather a lot of wishful suspension of disbelief going on when listening to the theories of right-wing economists and the blandishments of bankers asking to be trusted.
Quote: reds @ December 7 2011, 12:47 PM GMTIt's a pity the people who got us into this mess don't seem to be able to figure a way out of it.
Let's not forget that the greed of the populace equaled that of the banks, as it was the hope of huge profits that inspired millions of people to jump into the housing market while prices were climbing daily. They foolishly thought their purchases were risk-free while others wisely took advantage of the ridiculous market and cashed out in a big way. The buyers, the sellers and the banks all own part of the blame for the collapse.
I saw the crisis unfolding when I lived in Orange County and home prices were going up at a rate of $20000 per month. I knew the bubble would burst so I avoided buying a home in the OC and moved to Texas where home prices had barely budged. I purchased a new home in San Antonio for $220000 that would have sold for more than a million dollars in my old neighborhood. Ridiculous!
My best friend stayed in L.A. and paid $575000 for a home that is 30 years older than mine and is half the size. Now he's underwater almost $200000 and it's nobody's fault but his own. Conversely, my neighbor next door sold his modest home in California at the peak of the market and turned enough of a profit to pay for his newer and nicer house with cash.
Quote: Nat Wicks @ December 6 2011, 2:55 PM GMTI have several thousand pounds of debt, and got stuck in a dangerous credit cycle with pay day loans. All of the 'big' or 'expensive' items I own have always been presents. I made a few hundred quids worth of storecard related mistakes when I was a fiscally irresponsible 18 year old, which snowballed throughout my fiscally irresponsible early twenties. Even a comparatively small amount of debt is dangerous when the person who applies for it does t really understand what they're doing. It's part greed and part naivety, and part dangerous financial marketing.
Payday Loan companies are the "Spawn of the Devil" in my opinion.
Some of them have interest rates that amount to 800,000 % per annum.
Using them is only likely to drive anyone deeper & deeper into debt.
For anyone interested in learning more about market economics and, hence, a degree of explanation as to why the West is in this mess, I'd highly recommend the very readable and amusing take on Adam Smith's On The Wealth Of Nations, written by (the only truly funny Republican) PJ O'Rourke:
http://www.amazon.co.uk/Wealth-Nations-Books-Changed-World/dp/0871139499