Americans Live in pre-designed economic traps! The poor know that they are in traps,
Some of us others know we are in the traps. Some of us suspect we are in the traps.
And many of us are in the traps and have no idea we are even there at all. In fact, we may like it in a perverse way.
The Traps are deliberate, pre-designed and were implemented against you during the last few decades. If you remain in this traps it may prove to be your total undoing. The point of the traps is to augment economic growth through waste. Basically the idea is to get everyone in debt so that they will have to work harder and longer thereby increasing the productivity of economy as a whole.
The trap begins with College Loans to support the educational industry, they call them guaranteed Student loans, at so called low interest rates which tend to add up to quite a bit when you spread the payments out over 15 - 20 years. But you only get 10 - 12 years to pay these back, you say? What about those automatic deferrals for unemployment sickness and hardship?
Sure you'll get the deferral but your payment period is extended and your total payment raised ! Most of all you pay interest from the day you get your money so add another 4 years interest for that. Most of these loans are also interest guaranteed loans for the lending Institution, meaning if you pay it back early you don't get the interest refunded. Then to make things worse the lending institutions pass these loans around like fifty dollar bills buying and selling them to each other and banks keep changing names. So if you ask for a complete accountability for a discrepancy all you get is a good laugh. Those records are in a basement somewhere or don't exist at all. God help those poor souls who bought the four years in the service in return for assistance, and still end up in debt for their educational expenses.
The second trap is when they trade your college diploma for a new six to seven year car car loan to support the auto industry.
Trap#3 the Credit Card trap
If you didn't get caught up in the credit card industry scam yet, dozens of banks are willing to give you a card. he main goal of the credit card companies AKA the Banks (yes they are one and the same) is to rip off the American people for every possible cent and keep them in debt as long as possible, so that they can lend money to multi-national corporations that have sent all our jobs overseas. What happened to Usury laws? Every state has usury laws limiting the amount that lenders can charge in interest. Most states this amount is between 12% and 18%. Banks have given themselves a license to charge unreasonable amounts of interest ( now up to 79.9%) to individuals by making them sign arbitration agreements when getting a card.
What arbitrators do is enforce the terms of the contract not the terms of law.
What to do?
Enforce usury laws that are on the books!!!
Re-Evaluation of credit practices pertaining to individuals. Regardless of what you are told, credit is all too easy to get in this country. The reason behind this it is highly profitable for the banks and credit card companies to fleece you for every cent possible. I would like to see legislation enacted that would forbid banks and institutions from charging more for an overdraft or credit extension, than the extension itself. Common practice by banks and credit card companies is if you over draw by as little as a few cents, you are assessed charges as high as $40. That is to say you over extend yourself by a dollar, and they charge you $40 for the privilege of using a dollar for as little as a day? and if it's a checking account, they will often send the check back for that dollar and deduct $40 from your account, taking the cash for themselves and leaving you far worse off than you were. Another way of fleecing the public is cash advance fees, and ATM charges. Using cash machines you can be charged anywhere from 5% to 15% to get money that is already yours, or to which you are entitled. This is on the spot charges in addition to the up to 27% interest that some of these easy credit companies charge. What ever happened to usury? All these fees are non-refundable, even if you pay the money back, the next or even same day!!!
What to do?
Limit ATM charges to $1
Limit credit cards to 18% max interest
Late charge limited to smaller of not more than one month interest or $25
No more than a years earnings worth of credit between all cards issued to a single person
Limit Housing loans to 10% maximum interest, and require a minimum of 25 - 40% down payment.
The trap #4 is the marriage industry, Starting with those rings, just 54 easy payments, an for an investment in your future, a symbol of devotion. Ten years down the road your lucky to get $30 at the pawn shop.
Then there's the wedding itself but that supposed to get daddy's money. You can't put on at decent wedding for less than ten grand. Which leads ahead to the seventh trap for your daddy,the second mortgage.
But, you have to buy the house first (sixth trap) 30 - 50 years payments on over-inflated real estate with criminal tax rates?
After the wedding the furniture industry (fifth trap) is the one year no interest five year financing scam or the rent to buy scam . You can get fine used furniture for just a couple months payments.
(8th trap not everybody gets this one) The success trap. Perhaps one of the worse. A well paying job or successful career, always tricks one into a higher standard of living meaning you spend more for the same things. Bigger houses fancy cars, expensive toys and hobbies. You can't quit your job because you are used to a certain standard of living. Then when your career or job ends you find yourself up to debt to the ass because you bought it all before your could afford it through the Credit trap...
Then we have the medical and old folks home industries (traps) whose purpose to to suck every last cent out of you until you are broke and then let you die...
The final trap is the funeral ten grand to hundreds of thousands of dollars to die? Here's a growth industry Everybody is going to die !!! The purpose of this industry is to put your survivors deeper in debt.
All this just to keep the corporations going and government taxes rolling in hmmm..
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