Posted By:
Jerry Hrechka This thread has been an interesting read. I'm a firm believer in personal responsibility. I bought my house in 1986 with a 25 year mortage and paid it off in 2004. So no rent or mortage payment (Just the government extortion called Real Estate Taxes). I have 2 cars (2001 Dodge Durango & 2002 Dodge Neon) - both paid off. So in 2004 I decided to retire, stayed home for 6 months and went nuts. Decided to get a part time job at a store 2 blocks from my house (Walk to work). In a few years I'll be able to tap into my 401K. My CC debt is a few hundred $$$.
I have no sympathy for people that were financially irresponsible and now are facing financial ruin. I firmly believe that there should be no government bailout. They spent beyond their means and should face the consequences.
So far I haven't seen a change in people's buying - They still spend the same amounts on alcohol & Lotto Tickets. If they chose to waste their money in this way, I certainly do not want my tax $$$ bailing them out.
As for me I'll continue buying cards with my $200.00 per month collecting budget. From what I've seen it's a buyers market right now. I just bought a PSA4 G-Men & Heroes of The Law card for $1.34.