Comments for Kidvelvet's Blog of Joy http://www.kidvelvet.net Because you have SO MUCH spare time! Sat, 04 Sep 2010 21:26:00 +0000 http://wordpress.org/ Comment on Good Enough for Now by Mark http://www.kidvelvet.net/?p=35#comment-19 Mark Mon, 30 Jun 2008 22:48:25 +0000 http://www.kidvelvet.net/?p=35#comment-19 I just saw one of your comments on the ficecentknickel and wanted to tell you that you are dead on with your analysis of Dave Ramsey. I just don't get how people seem to blindly follow the leader and everything is black and white to them. I just saw one of your comments on the ficecentknickel and wanted to tell you that you are dead on with your analysis of Dave Ramsey. I just don’t get how people seem to blindly follow the leader and everything is black and white to them.

]]> Comment on Suze Orman and Credit Cards by kidvelvet http://www.kidvelvet.net/?p=24#comment-3 kidvelvet Wed, 06 Jun 2007 01:26:44 +0000 http://www.kidvelvet.net/?p=20#comment-3 Microman, I do believe that the government has a responsibility to its citizens. After all, "we the people" are the government. But by the same token, we cannot regulate over every single aspect of our lives, and over regulation can be a dangerous thing. I am what most people would call liberal with libertarian tendencies. My liberal side of me knows that without proper regulation of companies, they will serve their purpose without any reguard to the public; that being the creation of profit. I want the government to regulate my food and make sure that it is safe to eat. I want my government to regulate against monopolies to prevent price fixing. I would rather have the government run certain utilities, as these are simply franchised monopolies. But that is for another article. :) Right now, the government does regulate how contracts are made. There are caps on interest rates, people under 18 cannot sign contracts, and all terms must be stated in the contract. What the government cannot do is regulate against people harming themselves. People overspend, people sign contracts that are not favorable, and people get mortgages they cannot afford. These are things that people need to be responsible for themselves. People need to do their due diligence, and people need to read the fine print. If the terms are not agreeable, then don't sign the contract. If the contract terms change and you do not agree, then don't continue the contract. This is why I wrote the article. If people follow the advice above, then all of the little "gotchas" that credit card issuers use become a moot point and there is no need for government intervention.  The government should intervene when those contracts are not being honored by the CCs, not when people are being stupid. Microman,

I do believe that the government has a responsibility to its citizens. After all, “we the people” are the government. But by the same token, we cannot regulate over every single aspect of our lives, and over regulation can be a dangerous thing.

I am what most people would call liberal with libertarian tendencies. My liberal side of me knows that without proper regulation of companies, they will serve their purpose without any reguard to the public; that being the creation of profit. I want the government to regulate my food and make sure that it is safe to eat. I want my government to regulate against monopolies to prevent price fixing. I would rather have the government run certain utilities, as these are simply franchised monopolies. But that is for another article. :)
Right now, the government does regulate how contracts are made. There are caps on interest rates, people under 18 cannot sign contracts, and all terms must be stated in the contract. What the government cannot do is regulate against people harming themselves. People overspend, people sign contracts that are not favorable, and people get mortgages they cannot afford. These are things that people need to be responsible for themselves. People need to do their due diligence, and people need to read the fine print. If the terms are not agreeable, then don’t sign the contract. If the contract terms change and you do not agree, then don’t continue the contract.

This is why I wrote the article. If people follow the advice above, then all of the little “gotchas” that credit card issuers use become a moot point and there is no need for government intervention.  The government should intervene when those contracts are not being honored by the CCs, not when people are being stupid.

]]> Comment on Suze Orman and Credit Cards by microman http://www.kidvelvet.net/?p=24#comment-2 microman Tue, 05 Jun 2007 01:43:30 +0000 http://www.kidvelvet.net/?p=20#comment-2 Nice article but I do think Government has a responsibility here. As a public good, it's important that the government provide good education about the dangers of credit card and there should be protections in place against egregiously high interest rates. 30%? If you have to charge someone that high an interest rate, you shouldn't be loaning them money in the first place. Loan sharks are illegal aren't they? I wonder why that is and where one draws the line. We are bombarded day in and day out with images of happy overspenders and mailings of credit card offers. It has to stop. Think about tobacco and you'll understand how much being overextended in credit can damage people's lives. Nice article but I do think Government has a responsibility here. As a public good, it’s important that the government provide good education about the dangers of credit card and there should be protections in place against egregiously high interest rates.

30%? If you have to charge someone that high an interest rate, you shouldn’t be loaning them money in the first place. Loan sharks are illegal aren’t they? I wonder why that is and where one draws the line.

We are bombarded day in and day out with images of happy overspenders and mailings of credit card offers. It has to stop. Think about tobacco and you’ll understand how much being overextended in credit can damage people’s lives.

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