Default Project Sucktards-Squeeze, what banks are trying do to Sucktards ...
Not a day goes by that I can walk through my neighbouring flats without seeing loan shark vandalism the usual O$P$ notices. After clampdown, arrests and vigilance, the problem goes away for a while then comes back but never disappears. Once in a while will hear of people committing suicide due to loan shark harassment. Why is this problem always there? It is a highly lucrative business and there is always demand from desperate people.
So what is the problem with loan sharking - after all it is willing buyer-willing seller arrangement? They charge high interest, lend to people have a high chance of default, then use strong arm tactics to recover their money + interest....the end result is misery and pain for many Sucktard families.
The other day I was shopping in Suckchard and one young man step up to me. He told me I can get "$80 free" if I sign up for a credit card. I explain to him I'm jobless, he immediately lost interest in me. But the question lingers how come the credit card company can "give" so much money and still make money.
Over the weekend I met with my friend who just quit his job in consumer banking department of a major bank 2 months ago. He had been there for 8 years and was doing applications evaluation. Because of long hours, he was burn out and quitting to take a break but he said his next job won't be banking anymore "he had enough". Since both of us were very free we chatted for hours...and he told me many interesting things about consumer banking that I was not aware of.
I just start with this statistics from Suckmas on rollover credit card debt:
$ MILLION PERIOD ROLLOVER BALANCE*
2007 2,979.4
2008 3,378.8
2009 3,702.1
2010 4,014.7
2011 4,537.9
2012 4,991.8
These are the unpaid credit card bills that rollover to the next month. These are charged at 2% a month and at the present size the banks make $1.2B on interest. This is only half the story. The banks also lend an enormous amount of money that is non-housing and non-car loans classified as others. The goal of the banks are to recruit as many Sucktards to borrow unsecured and credit card debts because this is where they can earn the highest amounts. So my friend told me banks aim to:
1. Enroll as many people into spending on credit cards and borrow unsecured debts by initially offering goodies like low interest rates to entice them.
2. Once people are trapped like rats and boxed in. Some of them will fall into hardship like pay cuts or retrenchment. ..never fully able to pay down their debts.
3. Once these people are trapped they become the banks best customers because they are in permanent debt and banks can keep extracting interest earnings from them month after month like a slave.
4. The banks are trying to enlarge this group of slave debtors so that they have recurring income and revenue from this group of Sucktards - the banks can sit and collect billions in easy money.
5. When the person is complete run dry, the bank still does not lose money because they can get it from his estate i.e. sale of peon holes.
6. The bankruptcy laws in Sucktardland favors the bank and shape their predatory behavior and Sucktards are being entrapped because they cannot exit until they are bled dry.
Watch the banks grow this kind of debt aggressively. You see them at every shopping center pushing, every exhibition, pushing and pushing basically many people are blind and blur to the grand strategy of these banks. Suckmas is perhaps the most useless regulator around and really let the banks exploit the people as much as they can. And the Sucktardland bankruptcy laws are helping to entrap vulnerable Sucktards. Worse still the govt now gives the banks the means to find out how and who they can entrap through the suckcredit suckbureau. Since it was formed, the banks has been able to target and increase its predatory lending and behavior because it has more information it can use.
Last edited by TopSage; Today at 03:34 AM.
A young blood relation once asked me if he should get a credit card since he is so strong in his employment and cash generation. I told him to get a debit card instead. He asked again that a debit card don't improve his credit history and he might not be able to buy a house or a nice car with a debit card history. I told him to be patient. If you can't afford them immediately, then you have to save up for them. He then suggested that he might not be able to save fast enough as the property and car prices go up all the time. I replied what goes up must come down. He inquired that as a debit card, he can't use it for hotel bookings. I said then go to a hotel that takes his debit card. He then questioned if I have a credit card? I said I have. Then? I never use it. I only use my debit card. When the bank asked me to charge my credit card on annual fees, I told them to cut it up. The bank just kept quiet. My personal history is good enough to buy anything, but I don't. I only buy small things in cash. I buy many small things in cash. Most of these small things I bought improved in value over rather short time. But, once bought, they were seldom or never sold. My only problem is only the tax authority. I have to be clean with them. He has since been using only cash to transact. He grew to be very strong and attractive to gals.
Making money is hard enough. Hence, never let a leecher such as a bank to leech you dry.
I might have sounded like one of the old worn records repeating and repeating. I can't over-emphasize more. My father is the one I learned this valuable lesson from. Thus, you must never fall into this trap, otherwise, this trap will set you back by 20 years at the very least.
If you can't get cheap stuff locally, then go overseas or other regions to get them. Have a better bang for your cash. Marry a gal that can give you that big bang and access to that market. Sigh ... deep down, I am still a doubtlessly cunning bastard ... Stay off that fucken little island. Don't touch it.
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