[Roccland]

to get what you may need to perpare (somewhat) for this bone crushing thud into the brick wall at 500MPH...

Or do you still hold out that your FICO actually means something?

[Ludi]

No. I don't even know what "FICO" is, but I sure as hell don't want a bunch of creditors hounding me.

[VMarcHart]

No.

[ReverseEngineer]

If I HAD any debts, I sure would not be too worried about being hounded right now. The"RTC" has muc bigger fish to fry then a person with say $2000 in crdit card debt. They FIRST gotta figure out how to resolve the debts of corporations and banks that owe BILLIONS.

I would be astounded if anyone could use a Credit Card tomorrow to buy stuff. That would be a real lag time in the system. Debit Cards maybe work a couple of days here on the ATMs. If your Credit Card DOES work tomorrow, MAX IT OUT. Its all funny money anyhow.
Reverse Engineer

[Ludi]

If someone here decides to max out their credit cards and not pay, let us know how that works out for you in the coming months. There are plenty of folks out there whose daily job it is to hound people about unpaid debts. Why do you think these folks won't be doing their job?

[Roccland]

If someone here decides to max out their credit cards and not pay, let us know how that works out for you in the coming months. There are plenty of folks out there whose daily job it is to hound people about unpaid debts. Why do you think these folks won't be doing their job?

Because Ludi - to date no one has proved Dr. Duncan wrong... Or are you going to lean into his thesis with your expertness on this thread for all of us to see?

[FoolYap]

to get what you may need to perpare (somewhat) for this bone crushing thud into the brick wall at 500MPH...Or do you still hold out that your FICO actually means something?

I couldn't care less about my FICO. Don't have any idea what number I have. Never looked, never cared to. Why should I? My goal is to have as little debt as possible, not optimize my score in a debt game. If I did care about it, I'd be using my CC more often than I do. When I do use it, I pay it off when the bill comes.

Jacking up your credit card debt in the hopes that total systemic collapse happens before anyone can come collect on your debts, or before you pay a fortune in double-digit interest, is a fool's game IMO. None of us knows how long the Fed and all the central banks can keep the spinning plates up in the air. Bill-collectors and repo men are likely to be active for a long time during the slide, when it gets going. Do I want to bank on them not getting to me before the slide hits "the wall"? No, I do not.

My advice: Cut expenses, save cash, pay down debt, buy supplies with cash as you can afford to.
--Steve

[Ludi]

Or are you going to lean into his thesis with your expertness on this thread for all of us to see?

Hey, you can call me stupid if you want to. What I'm saying is, likely in the near future people will continue to try to make a living. If their living is to hound you for unpaid debts, they will probably do that.

Like I said, if someone here defaults on their debts, please let us know how that works out for you.

[Roccland]

Or are you going to lean into his thesis with your expertness on this thread for all of us to see?

Hey, you can call me stupid if you want to.

I don't need to.

[ReverseEngineer]

If someone here decides to max out their credit cards and not pay, let us know how that works out for you in the coming months. There are plenty of folks out there whose daily job it is to hound people about unpaid debts. Why do you think these folks won't be doing their job?

Because Ludi - to date no one has proved Dr. Duncan wrong... Or are you going to lean into his thesis with your expertness on this thread for all of us to see?

Rocc, people have a hard time letting go of the rules of the game, even when the rules are broken by the big boys. Bei it KNOWN, your wealth was STOLEN from you and your cildren. Steal as much back as you can now. Nobody will notice. The accountants and the hounders are AWASH in this mess. If every person in the US was an accountant, tey STILL could no makes sense of iit. Discontinuity, Zero Point whtever you wanna call,it is HERE. AKA, TSHTF.
Reverse Engineer

[Ludi]

I don't need to.

[Ludi]

Steal as much back as you can now. Nobody will notice.

Right. Nobody wants to make a living any more.

[Roccland]

Steal as much back as you can now. Nobody will notice.

Right. Nobody wants to make a living any more.

No one is afforded the opportunity to make a living. That is what happens when the alpha chimps move the goal posts.

[Minvaren]

Hey, you can call me stupid if you want to. What I'm saying is, likely in the near future people will continue to try to make a living. If their living is to hound you for unpaid debts, they will probably do that.

Bill collectors, tending to work directly for banks and other large corporations, will be around for awhile. The only thing that might slow them down is a massive increase in illegal drug seizures at the US border...

[Ludi]

No one is afforded the opportunity to make a living.

Really? I'm pretty sure I got a check from a client the other day. I would have been pretty mad if they had decided not to pay me, if they had decided to "steal back" what had been stolen from them (by me?) by not paying what they owed me.

I guess I wonder how folks here make a living. You all live by barter?

[Roccland]

No one is afforded the opportunity to make a living.

Really? I'm pretty sure I got a check from a client the other day. I would have been pretty mad if they had decided not to pay me, if they had decided to "steal back" what had been stolen from them (by me?) by not paying what they owed me. I guess I wonder how folks here make a living. You all live by barter?

That check would have bought you more had F&F not been bailed out... LAST WEEK ALONE...on average EACH DAY...190billion were slurped up from the fed window...

Let me know how far that same check goes in a week or two...

[Ludi]

Let me know how far that same check goes in a week or two...

Better than nothing, I reckon. I hope my clients don't default on their debts to me. That would make me sad.

[Roccland]

Let me know how far that same check goes in a week or two...

Better than nothing, I reckon. I hope my clients don't default on their debts to me. That would make me sad.

You will be sad in the future Ludi.

[Ludi]

You will be sad in the future Ludi.

Oh sure, I know that. But I don't think defaulting on my debts would make me happier. I can see it backfiring very badly.

[yesplease]

Because Ludi - to date no one has proved Dr. Duncan wrong...

No one needs to when history has done a good job of doing just that...

Will this trend continue? Only time will tell, but I for one tend not to put a whole lot of stock in predictive statements that don't even address efficiency, which is a bit silly when considering Duncan's use of a statement regarding that very subject made by Leslie White.

Other factors remaining constant, culture evolves as the amount of energy harnessed per capita per year is increased, or as the efficiency of the instrumental means of putting the energy to work is increased. … We may now sketch the history of cultural development from this standpoint.