Wednesday, November 04, 2009

Got my first credit card offer in over 6 months.......

 $39 yearly fee and variable rate, of course. So I threw it in the garbage and went to the credit union and borrowed two thousand on my free and clear car.
4.4 %.

On a 9 year old car as collateral. I also Have a free and clear truck  if I need more money.

Took 10 minutes and had the money in my savings account to tide us over while Patti is on leave for her surgery. If I ever get desperate I can borrow on my free and clear mobile home.

Maybe 20 grand at 200 a month.  Might be able to buy another and resell on contract like my landlord does.

Beats working for Walmart. Having a credit union on your side means:


The Coming Economic Depression: Insiders, Banks, Credit Card Companies Do Not Believe in a Recovery
Direct mail credit card offers peaked in Q3 of 2006 with approximately 2.1 billion being sent out. In Q3 of 2009 only 391 million have been sent out. In other words, credit card companies definitely don’t believe in the recovery and they certainly don’t believe in the American consumer. On top of this drop, credit card companies are now jacking up fees on good standing customers, adding annual fees for inactivity, and basically acting like your local loan shark. At times they are even charging 79.99 percent interest rates that would make Tony Soprano blush. If we really look at the data, the economy is doing anything but recovering. Actually, it is recovering but for those on Wall Street and the banks. The average American is merely subsidizing their party. By the way, the banks are largely the reason for the decade long housing bubble.
If you really want to see how much insiders believe in this rally, let us look at some details from last week. Insiders for the week with data from Thomson Reuters bought 8.2 million dollars worth of stock during last week. How much was sold? 184 million dollars. This pattern has been occurring the entire rally. Now wouldn’t you think insiders would have a better sense of the true nature of this economic recovery?

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