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windchymes -> RE: Capitalism (3/12/2010 7:08:47 AM)
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Of course no one approves of exploiting the less-sophisticated. But people will do it. They've been doing it since the beginning of time, back when your own survival may have depended on it. Hell, my ex-husband came home cackling with glee every time he managed to over-inflate a job estimate and screw another unwitting soul out of money. (It's one reason we're not together anymore.) There are always people looking to screw other people out of money, that's just a way of life, and it ain't going to go away any time soon.
What I do approve of is a movement to teach people TO BE more responsible for themselves and to stop using excuses like, "I didn't know, they buried it in the fine print". Well, either you figure out a way to read it and act accordingly or you're going to keep getting screwed. YOU and only you are responsible for yourself. If it means reading fine print, then buy a magnifying glass. I've done it. That's how I saw the clause in my HBSC credit card about increasing your credit limit....they're happy to do it, it's even one of their selling points, but you have to deposit an equal amount into the account first. It turns out to be a pre-paid credit increase. I walked away and paid cash for what I needed. Be suspicious and ask questions. If something sounds too good to be true.......you know the rest.
I'm sorry for the gentleman in the story, but had he put a little extra time into it, instead of taking the quick route, he could have found the credit union and done it the sensible way all along. I also would never have dreamed of hitting up my father for $5000, but that's another story.
This same thing happens all the time in those Rent-a-Center type places. Sure, only a few bucks a week for that plasma screen, yee haw, get what you want and get it NOW. Except that the contract is for so many weeks that by the time you get done paying for it, the total cost is three times what you could have gotten it for normally. But you can figure that out up front if you just take a little calculator and multiply the payment x number of weeks on the contract. If you aren't willing to pay out that kind of money,then walk away. Put that money in the bank, and in a few months, you'll probably have enough to pay a decent price cash, no interest. Easy peasy. Don't sign the contract to get what you want NOW and act shocked later on because it's costing so much.
You HAVE to take care of yourself, put forth the extra effort, and be willing to walk away from the easy road & look for that harder one.
And I hope this doesn't give payday loan and pawn shops a bad name. Some of them I know personally are very reputable.
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