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Consumer Credit is evil
consumer credit
A small metaphor on Money, Credit and Comumer Credit. New! : I updated my Website: www.berninger.de Actually the story that consumer credit is an invention by the banks in order to make people buy unnecessary things comes from one of my business school professors.
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#2 written by Ape65 1 year ago
I don’t like buying stuff, so I tend to wait until I desparately need something until I buy it. I often find myself buying everything I need all at once, after procrastinating for several months or even years.
For example, last August I spent about $3000 on car repairs, a new fridge, a new mattress, new clothes and new glasses. I put everything on my credit card, so as to spread out the payment over 3 months. Are you saying this is evil?
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#3 written by watcher0777 1 year ago
the serpent beguiled her, that is used her desire to lead her to an intended result, which like the title and theme of your vid was evil. the banks used the politicians to manipulate the playing field, as the politicians manipulated the banks for their own designs. the community reinvestment act is an example. the advertising, marketing of the products to entice the consumer economism/globalism dynamic where the bubble gets bigger and is good for cream taking. fraud, false balance=abomination
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#8 written by portantwas 1 year ago
I think the US needed widespread credit card consumption cos it kept ppl employed. Ppl buy goods with deferred payments so the retail and service sectors keep expanding. How do you keep expanding? Get even more ppl to buy things on credit. Unfortunately, the wheel got too fast and the hamster has had a heart attack.
Consumerism is so wasteful anyway, and damaging to the environment. We need to think of a better way – but I can’t think of one. Can you?
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#21 written by PontiffMystic 1 year ago
Money is jberni’s God. You heard it here folks. Lol, I am just joking. Money came out spontaneously from the need to calculate value relatives, and more accurately than you could with direct barter. I see nothing wrong with consumer credit. If you get in over your head, that’s your fault, so I wouldn’t just blame the bankers. If people are foolish enough to take on debt, that’s their choice. I don’t believe in stuff like predatory lending. You could argue China is a predatory to the USA.
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#23 written by PontiffMystic 1 year ago
Debtors blame creditors for their own irresponsibility. Even other people feel sympathetic for the debtor, but it’s the debtors fault. That’s like blame a married man for his infidelity, because there is beautiful women willing to have sex with him. Fiscal irresponsibility stems from irresponsibility period. Such people can’t pay the bills on time, have traffic tickets etc. Unfortunately the government doesn’t encourage such matters, and continues to support moral hazards.
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I love your posts doctor bern
entertaining and informative
you are a good and charismatic teacher
thankyou for sharing some of your insights here