Credit Cretins’ Crap

Most of the snail mail I get are bills, or advertising. I have a sticker on my door stating "No advertising". Such stickers are very common here, and are respected. Consequently, I only get adressed advertising, which basically is spam with a known sender. Not loads of it, but almost every day. Lately I have recieved several "offers" for credit. I am not a house owner anymore, and while my economy is really very small, I hope I will never borrow a nickel again. The interests are high on these loans. Very high, compared to the deflation we have now, according to the authorities. For example, house loan interests are very low.

These credit mongers sound schizofrenic. They praise me, as if I have my economy in order, and at the same time offering me credit, as if I was desperate. On one hand they are trying to sell me something, as if I am a customer, on the other, they enclose a paper that I must fill in and sign to be in their debt. Funny that. It is almost sado-masochistic, binding a person to someone for pleasure and pain. I am sorry, to something. Not very unlike how recruitment to sects go, eh?

They are offering me yet another plastic card! Imagine that a long time ago, credit cards were something fancy. Even before that, it was hard to get a loan. You had to go to the bank and really suck up to them, if you were an ordinary citizen. On the positive side, people borrowed money to make themselves a home. Not for holidays and what not.

Money makes the world go round. Does that mean the world rotates around the money? I certainly do not believe in the Matrix, but the virtual world of credit has too much power over the real world of plants, brains, bodies, animals, air, work, love etc.

5 Comments

  1. The ease with which you can get credit these days is insane. Far too many stores (both physical and online) have their own credit cards, which they take every opportunity to push at you, and every time I visit my bank’s website I am presented with a big banner asking me if I want an unsecured loan. I clicked through once, the interest rates for these things are eye-watering.

    We all need credit occasionally, but it should be the exception rather than the rule, and by taking on too many debts people store up endless problems for themselves. We would all do well to keep in mind that the economy exists – or should exist – for the benefit of people, and not the other way around.

  2. They lend out money very easily, and then when people fail to pay back, the authorities step in and help the reckless, greedy companies to get their money back. At least here in Sweden, if a credit company, or a debt collection company, keeps demanding their money back, there is in practice no statute of limitations. You can try strike a deal, but that can mean living on very little for years and years. Companies can cause enormous losses to creditors and suppliers, but sometimes I think the lawmakers are more anxious to try squeeze the unfortunate individual. It is about authority, I guess. With a moral tinge to it.

    (I hope this makes sense, I am not totally sure about the English terminology)

    Here is one link: https://en.wikipedia.org/wiki/Bankruptcy#Sweden

    As a sidenote, it is interesting that in Swedish and, afaik, other Germanic languges (not English) “debt” and “guilt” is the same word.

    • Interesting sidenote about debt and guilt.

      It’s certainly true that individuals can far too easily borrow far more than they can afford and then end up in all sorts of trouble when they can’r repay what they owe. It’s also true that large companies (and it’s always the large ones) can get away for years without paying their debts.

      I’m not sure that this is due to lawmakers, though. I suspect it has more to do with creditors feeling that they can’t afford to let a massive corporate debtor go under. Individuals, on the hand, owe very little (in corporate terms) so the creditors are more than happy to send in the bailiffs after the first default.

      • I agree it is not only the law. But a company can declare bankcrupcy. Creditors then have to get what they can, which can incur rather big losses. Here it is rare for individual to declare bankrupcy. There is usually not a “clean slate” to start over again. And I do feel the moralistic indictment is often harder on a “squandering” individual than on a dito company. There are people who creates gigantic losses and cause many to lose their jobs, but somehow they are soon back up doing business.

        Though that is generalising a bit, i admit 🙂

        • There’s nothing wrong with generalising, as long as we recognise that we are doing so 😉

          You are probably right to say that there is a stigma associated with going bankrupt, and this would affect individuals far more than companies. That said, there do seem to be plenty of people who are serially bankrupt.

          It’s a tough call. One one hand I do think there needs to be a way out for people who do find themselves trapped in debt. On the other hand, people do suffer when the company they work for collapses so employers shouldn’t have too free a hand to simply shut up shop.

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