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It’s the Stupid, economy!
Author: velveeta jones    Date: 03/08/2009 13:18:57

Having just barely made it safely out of High School, and only attending a college specializing in arts and crafts, Velveeta has no real wisdom about these matters regarding economics. The only economics I studied in school was for the home. After all, we were taught in my proper Southern conservative school that a clean, pleasant and well-managed home was the best path towards finding a respectable Christian husband. Regrettably, I remain, to this day, unmarried. But, my home continuously smells of primroses and freshly baked cookies, and my sheets are always freshly ironed.

So, I was shocked to recently learn that our government is paying money to banks, financial investors and other big corporations with names like AIG, GM, Citigroup, Bank of America, JP Morgan Chase, and Chrysler. While others, like Bear Stearns and Wachovia are being taken over by competitors rather than fail completely.

These companies are supposed to know how to make money!

Here’s the thing, George W. Bush told me to go shopping. He really did.



And, around that time, the limits on my credit cards went up. Odd, because I hadn’t really been using them that much, but up they went. And I was in the process of a major life change, so really those cards came in quite handy. And, of course, I support the troops, so if this helps, why not? I can’t join the service, so I did my part and shopped. I purchased a new washer/dryer, took friends out to dinner, traveled to NY to see shows, bought some new office furniture and, along with the usual expenses of gas, food, medical bills (both human and pet) crafting supplies, clothing and car maintenance, I did some major troop supporting.

I keep up with my minimum payments and all was good. Times were good! Well, unless you were one of the ones actually fighting in the war or had a loved one in Iraq on their 3rd tour.

One day, somewhere in early fall, the excrement hit the ventilating device, and it all fell apart. Yes, now I remember, the ones running for President stopped talking about Iraq and started talking about Freddie and Fannie and job losses and TARP’s and other things foreign to Velveeta’s delicate ears.

But I felt safe; I had a job, a car that runs fairly well and my health. That is, until the letters started coming telling me that my credit limit was inexplicably going back down and my rates were going up. It only took one badly timed unlucky event to put me behind. My credit card banks now hate me. They call, they write, they email me daily; and not in a friendly nice way. They whine that they need their money… they’re broke and need a bailout – yet many of them still have enough money in their clutches to pay for TV commercials with pricey special effects that run on and on and on, featuring vikings and dancing football players, or, telling me how "priceless" it would be to shock my lover with matching sports cars. Sheesh! And, one of the credit card companies that persists in hounding me to no end seems to have enough stocked away to pay for naming rights to the new Mets Baseball stadium! I'm NOT kidding!

I will pay them in full the lousy 2.4k I owe them, right now if they will change the name to Velveeta Jones Field. Oh, Imagine that! Ahhhh. I might even become a Mets fan. [No! Retract. Retract!]

So, tell me again why my taxes are bailing out my banks? And, if they are getting my money - money that I’d prefer to see spent on Headstart, school lunch programs, disability assistance, public transportation, Green technology and the NEA, then my question is this:

WHY THE HELL DO I STILL HAVE TO PAY FINANCE CHARGES AND LATE FEE’S?

Greedy bastards!

 

12 comments (Latest Comment: 03/09/2009 06:31:26 by livingonli)
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Comment by clintster on 03/08/2009 14:21:47
Excellent post, Velveeta! Sounds like many a conversation I've had with my wife.

Comment by trojanrabbit on 03/08/2009 14:40:31
Morning velveeta - excellent post as always.



I want my hour of sleep back!

Comment by velveeta jones on 03/08/2009 15:04:38
Thanks ya'll.



Yes, I too am perturbed at losing 1 hour. I need all the beauty rest I can get!!

Comment by Raine on 03/08/2009 15:12:37
:clap: Thank you Ms. Jones!!!!



I am eagerly awaiting the credit card proposal. It's predatory what is going on. It's a little like price gouging if you as me.







Comment by BobR on 03/08/2009 16:30:03
This seems so common-sensical (or is that comic-sensical?). For anyone having issues with credit card companies, I recommend CCCS. You cancel the card, and they negotiate a lower interest rate and fixed payment schedule.



If everyone started doing that, the CC companies might sit up, take notice, and realize their business is going away permanently.

Comment by Mondobubba on 03/08/2009 18:23:48
Simple Ms Jones, the average credit card company make a whopping 40% of its profits from fees.



See Kevin Phillips book, American Theocracy . Specifically the section on borrowed prosperity. It is jammed packed with tidbits like this. Oh and yeah he's a Republican.

Comment by Mondobubba on 03/08/2009 18:59:01
Oh yeah there is also a Supreme Court case, Citibank vs somebody. It basically says credit card companies can charge as much interest and fee as they want.



Remember, I Mondo used to work for a credit card company. HSBC/ Household Finance is considered one of the sleaziest lenders in the county. Check this out.

Comment by livingonli on 03/08/2009 19:30:25
Greetings form the salt mine. Not as much basketball as yesterday. We did 7 MAAC tournament games today although I didn't do all of them since I had to also cover the Devils and the Knicks. Today, I just have the Islanders and the Knicks.



And the Rangers just beat the Bruins 4-3 it seems like at least the Rangers are coming out of their slump.



I have some comments on Velveeta's blog since I am in a similar situation. I will write in more detail when I get home.

Comment by livingonli on 03/09/2009 02:08:56
The blog is dead. Viva le blog.

Comment by Raine on 03/09/2009 03:32:57
The blog is not dead.. It's at church.

Comment by Mondobubba on 03/09/2009 03:43:10
Quote by Raine:

The blog is not dead.. It's at church.






Church social maybe. :blog lurches around social spike punch, crashes into a people passes out in the corner:

Comment by livingonli on 03/09/2009 06:31:26
I'm finally done for the weekend. This was brutal.



I'm off tomorrow but I have a doctor's appointment in the AM.



I can relate to what velveeta said because in my case after being out of work through half of 2005 so when I came back to work in early 2006 I ended up in a job making less than what I earned before. Unfortunately,my expenses continued to go up and not down which found me in a situation where I was using my credit cards more than I used to. I seem to get by for a while but alas these last few months my debt has finally caught up with me. All this makes me feel like raising a middle finger at both the credit card companies and the Bush Administration for making it possible.