What is Digg?180 Comments
- sjbdallas, on 11/17/2008, -5/+56FTA: "because of our Christian background, it didn't feel right"
Really? Being Christian didn't stop them from racking up all that credit card debt or buying a house they couldn't afford, but it sure made them uncomfortable about NOT paying all those bills. - Tape99, on 11/17/2008, -7/+44Stop Spending Money That You Don't Have
- BugsSport, on 11/17/2008, -0/+31Michael: I...Declare...BANKRUPTCY!!!
Oscar: You know you can't just say bankruptcy and expect something to happen
Michael: I didn't say it I declared it - algaeturd, on 11/16/2008, -14/+41While more bankers and corporations get rich off of THEIR tax bailout money.
When will people realize that this is exactly what was supposed to happen. Do you think that the rich just HAPPENED to take the tax money of the poor and middle class while the middle class and poor line up for bankruptcy? Bush and Co. designed this as a final whack to the country's poor and to bleed them of what little money they have left. Pure and simple. - Zippo, on 11/17/2008, -3/+28Here's an idea... live within your means. Don't buy things you can't afford. And don't use credit to buy something unless you're able to budget your income and work out a viable payment plan.
Granted, medical bills are another thing. The idea of paying for health care is something I'm glad I don't have to worry about. - Zippo, on 11/17/2008, -0/+25Yeah, what the hell does a Christian background have to do with choosing to file bankruptcy? Where in the bible does it mention that?
- Observant1, on 11/17/2008, -2/+22over 2 decades of corporate welfare to help fund outsourcing the technology and production, lowering wages and availability of jobs while raising the trade deficit is a lot of the cause for this engineered "financial crisis" where their solution is blatantly looting a nation that is already technically bankrupt... and you're quibbling about who gets taxed what? thats hysterical.
- inactive, on 11/17/2008, -6/+22TARP is just a detail. The deeper problem is the globalized economy. The corporate politicians are unanimous in shouting the marvels of "free trade" and brand critics as anachronistic or crazy. The truth is that "free. Trade has driven American production overseas or out of business. Production will look for the highest productivity per dollar and the lowest amount of regulation. There is no reason for industry to stay here in America unless we make a reason. So either our standard of living will fall until it is equivalent to the Chinese or we get out ofall of our trade agreements and apply 15% tarrifs on all imports of goods or services.
- stutimandal, on 11/17/2008, -7/+21From the article:
{{{ Robert _Lawless_, a professor at the University of Illinois College of Law }}}
LOL - edstate, on 11/17/2008, -2/+16What's horrifying is how much your (correct) assessment is actually the MINORITY opinion today.
- LostOnion, on 11/17/2008, -1/+15If I never hear the phrase "Joe Six Pack" again in my lifetime, I will die happy!
- TexasKoz, on 11/17/2008, -6/+18When will our spineless lawmakers make businesses like GM file for bankruptcy rather than give them money with no oversight? Joe six pack doesn't get a bailout...
- Solkre, on 11/17/2008, -0/+11No sir.
- Wryly, on 11/17/2008, -2/+13Dear Phil Gramm:
NOT a nation of whiners. - TheKingInYellow, on 11/17/2008, -1/+12Yeah, where the hell does the bible mention bankruptcy?
- inactive, on 11/17/2008, -3/+13Tell your representatives to get us out of trade agreements and to impose across the board 15% tariffs. If not our middle class is going to live at the same level as China's middle class.
- Observant1, on 11/17/2008, -2/+11filing for bankruptcy = the extraction of money from people for them to be able to officially declare that they dont have any money.
making it more difficult and expensive = demanding more money and more lawyer fees from the same people who just dont have any money.
why does it remind me of what happened with college tuitions, corporate welfare, outsourcing, war on drugs, war on terrorism, unemployment rates, inmate slavewage labor and privatized prisons, "bankster bailouts" ... because they keep escalating all of it maybe?
we know were being raped by DC's BS. - FountainDew, on 11/17/2008, -0/+9I like the little stab against the American HMO health system... Over there, they reeeaaaally hate the idea of universal health care. It's just easier for some people to scream their heads off yelling "communist!!!" than accept the fact that when you're in an emergency, your insurance policy should be the last thing on your mind. They have no idea until they've tried it.
- theutopian, on 11/17/2008, -0/+9Irresponsibility is not the cause of ALL bankruptcy. In fact, most bankruptcies are caused by medical bills (even for those WITH insurance).
- Parastie, on 11/17/2008, -0/+9Psalms 37:21:
The wicked borrows but does not pay back,but the righteousis generous and gives;
The bible sort of says 'not to borrow' but it's hard to say if it means your average person, or someone in a lot of power and ruling a nation.
Deuteronomy 15:6:
For the LORD your God will bless you, as he promised you, and you shall lend to many nations, but you shall not borrow, and you shall rule over many nations, but they shall not rule over you. - laidoff, on 11/17/2008, -3/+11Did I miss my chance to get some TARP money?!?!?!? O yea I'm not "systematically critical" or whatever word they decide to make up to give one of their buddies some money.
- hydroplane, on 11/17/2008, -1/+9Nope, you're doomed to a life of indentured servitude in which you have no earthly hope of paying off your debts. You could always pray for a quick death.
- vault, on 11/17/2008, -1/+9lol
- fuckingusername, on 11/17/2008, -2/+10mission accomplished
- Sparky9292, on 11/17/2008, -2/+10Medical costs are the #1 reason people file for personal bankruptcy. Hence we need socialized medicine similar to Canada's....
- topgigmedia, on 11/17/2008, -1/+8Render unto Caesar what is his.... umm [pretends to flip page]... umm nope! Doesn't say you cannot file in this here Lord's word... "Hey Girty, let's file bankrapture, I mean bankruptcy and get 'er dune".
When will people start think for themselves and take responsibility for their own actions?!? - Sparky9292, on 11/17/2008, -0/+7If the college loans are federally backed, you are still screwed. If you declare bankruptcy, anywhere you work will garnish your paycheck forcing you to pay back your loans anyway.
Or simply only accept cash..... so good luck! - faithhealer, on 11/17/2008, -1/+8I'd strongly suggest getting your advice on bankruptcy from a lawyer or a consumer advocacy group, NOT from people who troll on Digg.
- Observant1, on 11/17/2008, -1/+8that IS the deal, there were regulations in place that were protectionist and they were lifted. there was also corporate welfare handouts that are typically 3-4x the amount of welfare the people ever get. a lot of that corporate welfare helped fund the outsourcing of the technology and production, DC approved that we get to pay for, as we become more unemployed because of it. this wouldnt be in conflict of OUR interests at all or treasonous would it?
at this point all I can say is fuggit, find and watch "Hemp for Victory" which was a WW2 USDA produced short film showing farmers how to grow commercial hemp for the war effort, textiles. it is time to legalize it and do it again with newer better technology, to produce a whole lot more than just textiles.
free the 85% of inmates, (who are there for a little bit of POT) and the taxpayer burden it creates. the "ditch-weed" hemp is going to pollenate the higher grade to drop its potency anyway. if someone is caught raising HUGE quantities of the hybridized potent stuff to sell as a "DRUG", go ahead and bust em for it, but legalize personal usage and commercial hemp. the "war on drugs" doesnt stop, but its a major shift in tactics there, to maybe gain some ground in this economic warfare that has been created. some founding fathers grew it, some even smoked it, so why the prohibition? even with the shift in tactics for a "war on drugs" theres more money to be made than how it is now, which only costs. it is a good rotational crop that needs very little tending, and one of the fastest renewable recources there is. our real economy was productivity based, and the business of locking people up is VERY non-productive -is my opinion of many police, lawyers, judges, politicians, social workers, psychologists and the rest of the people who step in to make money for someone being busted for too often, diddly-squat. theres a confidential methodone program for heroin addicts medicinal use, so who are we kidding? - DrDragun, on 11/17/2008, -0/+7That seems like sound advice, but how can I resist something called the NINJA loan? My judgement gets clouded by daydreams of throwing stars and nunchukus thrashing away my financial insecurity.
http://en.wikipedia.org/wiki/Ninja_loan#No_Income_ ... - cubicledrone, on 11/17/2008, -2/+9Notice the tax example is limited to income tax to avoid including all the regressive taxes (sales) and lack of deductions (renters), higher interest rates (credit score), lack of insurance (medical, auto), and all of the other little extras that make it WAY more expensive to be poor than to be rich.
Gotta throw the flag on that tired example, Chunky. Since you brought up "Corporate America" (who fired everyone and pocketed the difference plus their bailout billions) Let's talk about how much tax the Fortune 500 has paid in the last five years and compare it to the amounts they've been given by local, state and Federal government in the form of hiring incentives, municipal tax holidays, infrastructure bonds, free sports stadiums and so forth.
The poor and middle class pay full price. The rich ride for free. Face it. - bjornski, on 11/17/2008, -0/+7@Parastie
No it doesn't.
Deuteronomy 15:7-10 is particularly forceful. It reads: “If there is a poor man among your brothers...do not be hardhearted or tightfisted toward your poor brother. Rather be open-handed and freely lend him whatever he needs. Be careful not to harbor this wicked thought: "The seventh year, the year for canceling debts, is near," so that you show ill toward your needy brother and give him nothing. He may then appeal to the LORD against you, and you will be found guilty of sin. Give generously to him and do so without a grudging heart; then because of this the LORD your God will bless you in all your work and in everything you put your hands to."
and also...
The Biblical doctrine of usury rests primarily on three texts: Exodus 22:25; Leviticus 25:35; and Deuteronomy 23:19-20. Exodus and Leviticus prohibit loans of money or food with interest to a needy brother or sister or even a resident alien. Deuteronomy forbids taking interest from any person. Other Books of the Bible underline the importance of this prohibition on interest. For example, Psalm 15:5 characterizes a righteous man as one who, among other things, “lends his money without usury.” Both Ezekiel 22:12 and Nehemiah 5:0-11 condemn lending money with interest, especially to the poor. And Ezekiel 18:13 list the taking of interest among sins worthy of death.
I don't see that as being "don't' borrow". It looks a lot more like "rules on lending".
But again, this gem of wisdom falls out of that article too:
"the Talmud quotes an ancient rabbi as saying: “It is better to sell your daughter into slavery than to borrow money on interest.”"
How true. - maximilen, on 11/17/2008, -1/+7 "Just wait until the mortgage crunch turns into the consumer credit (credit card) crunch." Quoted from my graduate-level finance professor .
- cubicledrone, on 11/17/2008, -2/+8Start hiring Americans at 2008 wages.
- cubicledrone, on 11/17/2008, -1/+7Wrong. Adjusted for inflation, the average American wage in 2008 is LOWER than the average wage in 1972. Further, wages for college-educated Americans fell by nearly 4% from 2003 to 2007.
Look it up. - panth77, on 11/17/2008, -0/+6I would generally agree with you, but you and many others seem to have a very simplistic understanding of the reasons behind people filing for bankruptcy. It is not merely people being irresponsible and spending money they don't have.
Oftentimes, going into debt is simply unavoidable. In order to get a college education (barring 100% scholarships, and even with those there are additional expenses), you go into debt. To purchase a home (even a modest one), you go into debt. The prices of places to live (apartments included) have been skyrocketing in some places, and simply moving somewhere else is not a viable alternative because of job opportunities and other factors.
The price of material goods and services you need to live is constantly rising without steady wage increases to compensate. Add on top of that the volatile market and job situation where many people are suddenly finding themselves out of work and it breaks down to something a lot more complicated than simply people living outside their means or being unable to pay a debt they agreed to pay years ago as some argue.
I am fortunate in that I have a pretty good wage and relatively low cost of living, but I am the exception, not the norm. I have many friends who have not been so lucky, and it was not because they were lazy or stupid, it was because living costs money, and some are coming to find that it suddenly costs more than they can make right now. - attn2risky, on 11/17/2008, -1/+6i'm just gonna throw this out there, i don't know anything about this stuff, but if i declare bankruptcy do the college loans go away???
- FountainDew, on 11/17/2008, -2/+7Living within your means doesn't equal betraying your economic system by not purchasing a damn thing ever. I'm sure anyone would agree that breaking even (and saving a little on the top) on your bills isn't going to send America back into the Great Depression.
- inactive, on 11/17/2008, -0/+5let's buy some more ***** with credit!!!!!!!!!!!!
- cubicledrone, on 11/17/2008, -0/+5After you're done Googling Smoot-Hawley, THINK a little and realize what happened after we re-established manufacturing in this country in the 1940s, an effort which was a de facto tariff on everything.
How did we do in the 1950s and 1960s economically? 'nuff said. - cawpin, on 11/17/2008, -1/+6I think he should just tell his friend to stop spending money he doesn't have.
- FountainDew, on 11/17/2008, -1/+6Dude, it doesn't matter who's pocket the money is from. Bailing out corrupt and incompetent lending practices is equal to giving a pyromaniac more lighter fluid. Most people could give a ***** about who it hurts more, who's more to blame, when the biggest issue is how to get away from the damn fire itself.
- inactive, on 11/17/2008, -0/+4It took me like 30 seconds to figure out what you meant by that first sentence. It doesn't work as well in text as it does out loud.
- Briandt75, on 11/17/2008, -1/+5It's in the bible these people have in their heads. Remember THAT bible is considerably different that what's in the printed book OR what was actually on whatever silly stone tablets the printed word was based on.
- Balanced, on 11/17/2008, -0/+4More like houses that were out of their price range.
- jitterbits, on 11/17/2008, -0/+4And the floors of rich people don't mop themselves.
If the wealthy want to benefit from the poorer education and meager opportunities of the lower class, they need to pay fairly for that, unless you would rather admit the lower classes are slaves.
No matter how you dice it, those menial labourers (or, as you seem to prefer, "irresponsible" classes) provide invaluable services to the economy and the country. You cannot have a functioning society that is comprised solely of top level executives. - petebot, on 11/17/2008, -1/+5Bob Loblaw?
- bishop, on 11/17/2008, -0/+4Algaeturd,
Please read this article:
http://query.nytimes.com/gst/fullpage.html?res=9E0 ...
It was written 5 years ago. As you will see from the article, the Bush administration was trying to implement more stringent regulations on Freddie and Fannie but were stopped by Barney Frank.
This economic situation occurred during the Bush administration but the wheels were set in motion much before that. The government forced banks to give loans to people who should not be getting loans. There was this idea going around that in order to be happy you had to own a home. That was part of the american dream. This idea was based on good intentions but unfortunately it ended hurting the very same people it was intended to help and ended up hurting many more people! - bjornski, on 11/17/2008, -0/+4Like a war?
- inactive, on 11/17/2008, -0/+4i'm surprised he didn't get banned yet
edit: just did -
Show 51 - 100 of 182 discussions
The Digg Toolbar for Firefox lets you Digg, submit content, and keep track of Digg even when you're not on the Digg site. Download the official 
© Digg Inc. 2009
— Content created and posted by Digg users is