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Credit Card Slave, Consumer, or, Free?

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by Jennifer Star
May 28th, 2009

http://www.donharrold.net

Your choice. I know what I choose. How about you?

Duration : 0:5:57


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Comments

  1. Geefunker said on May 28th at 9:51 pm:

    Hey, Don, you are a …
    Hey, Don, you are a consumer. **shocked face**

  2. ebayismylife said on May 28th at 9:51 pm:

    I’m just currious …
    I’m just currious don, do you have any credit cards?

  3. bamatommy said on May 28th at 9:51 pm:

    Can’t disagree with …
    Can’t disagree with that. :)

  4. jldavid47 said on May 28th at 9:51 pm:

    I have 2 credit …
    I have 2 credit cards that pay ME to use them. No annual fee, no interest if I pay my bill on time and a 1% to 5% cash rebate depending on what I buy. Carrying a balance on a credit card is the ultimate in financial stupidity. If you can’t afford to pay for something in CASH at the time you make a purchase, you won’t be able to pay for it when the credit card bill comes due either. Following that one simple rule screws the banks and lets you work the float to your advantage.

  5. HebaruSan said on May 28th at 9:51 pm:

    Good first step at …
    Good first step at the individual level. With the 1970-present wage freeze, though, businesses can’t sell us the increasing quantity of goods that we make for them at a profit if all we spend is our income. That’s the function consumer debt performed. (See recent vids by Richard Wolff.)

    So if everyone suddenly becomes responsible, we’ll need to reorganize at the social level to accommodate it. Probably necessary anyway given the credit crisis. Maybe produce our own stuff to consume directly?

  6. AJAXTHEDRAAK said on May 28th at 9:51 pm:

    Good message.
    Good message.

  7. trent2429 said on May 28th at 9:51 pm:

    Comparing consumers …
    Comparing consumers to pigs is an offensive slur to swine everywhere.

    Pigs consume our to produce bacon, a noble endeavor in all respects. Credit card users consume our savings and produce bankruptcies.

    Big difference, Don, and I think you owe an apology to lean hogs everywhere.

  8. lostprophet912 said on May 28th at 9:51 pm:

    The fact that jobs …
    The fact that jobs are vanishing at an alarming rate greatly increases the credit card companies risk, hence increasing interest rates. The average person is quick to point out how “greedy” the credit card companies are, but most have no idea how risky unsecured debt to buy crap at the mall is. Most people should feel lucky to be getting any unsecured debt in these times.

  9. caganb said on May 28th at 9:51 pm:

    How many cards do …
    How many cards do you have Don?

  10. 050me said on May 28th at 9:51 pm:

    Thank you for the …
    Thank you for the nice video, I do have many Credit Cards, but I do not have any outstanding, I found the credit card necessary to book hotels and rent a car. If there is a way to rent a car or hotel without a credit card, Please let me know.

    I will really appreciate your reply.

    Thank you and best regards

  11. KevZen2000 said on May 28th at 9:51 pm:

    IF you need a …
    IF you need a credit card to buy stuff,use your debt amt card that has visa or mastercard logo or buy a prepaid credit card.25% interest is highway robbery.

  12. kingstuks said on May 28th at 9:51 pm:

    Max out the cards …
    Max out the cards then ask them to substantiate their loss. They can’t . They just create the 1’s and 0’s.

  13. Ubreako said on May 28th at 9:51 pm:

    I have been buying …
    I have been buying ETF’s like DBC and DYY ie commodities funds as an inflation hedge. This also plays into population growth and etc. Do you have any thoughts on this ?these ETFs have been destroyed…..so maybe a bounce or a long term hold…..your wisdom appreciated

  14. Yourdeadmeat69 said on May 28th at 9:51 pm:

    There was a great …
    There was a great Saturday night skit with Steve Martin who couldn’t understand why he couldn’t buy stuff he couldn’t afford.

    Japan used to consider the use of credit, a shaming experience. They’ve flipped over watching big brother US around 1990

    One area we need to change, is downgrading home mortgage scores, because you pay off credit cards monthly.

    THAT is the most unreasonable of all guages, and each mortgage maker needs to be taken to task.

  15. birchmanllc said on May 28th at 9:51 pm:

    “There are two ways …
    “There are two ways to conquer and enslave a nation.
    One is by the sword. The other is by debt.” - John Adams

  16. ratzskinakie said on May 28th at 9:51 pm:

    I really hate how …
    I really hate how the companies make it simple for anyone to get credit card with only soc. security # and name and no presense required. it’s really frustrating. My father addicted to debt got me at 10k worth of credit card debt by forging my name when I was younger, at least he has been making payments, i’m making him pay all. And i’m not going to risk him 5+ yrs in prison or sue cause its just a stupid mistake he made. After he pays all, i’m going to get credit freeze.

  17. Smirnoff71 said on May 28th at 9:51 pm:

    The usual rhetoric …
    The usual rhetoric is becoming old, but its just half of the total story. Becoming a non-consumer will snowball the problem. No consumers means no more jobs for a lot of Americanos. Credit isn’t bad. In fact, credit is one of mans greatest inventions. It’s just poor regulation of credit throughout decades that has put America in a tar pit of which it can’t escape….. or so it seems! I hope I’m wrong!

  18. freesk8 said on May 28th at 9:51 pm:

    Debt is the chain …
    Debt is the chain that the banks use to get you to apply your own shackles. Debt is self-chosen bondage.
    Pay down your credit cards.
    Right on, Don!

  19. Mindsi2 said on May 28th at 9:51 pm:

    Right on the mark …
    Right on the mark Don. We need to stop being a consumer and find a way to become a producer.

  20. schizophrenic123 said on May 28th at 9:51 pm:

    Get a DEBIT card. …
    Get a DEBIT card. Screw the banks.

  21. jerthemessiah said on May 28th at 9:51 pm:

    George Carlin used …
    George Carlin used to rip the American consumers too. George did it with a lot more swearing though.

  22. Jayhawkblue said on May 28th at 9:51 pm:

    thanks for these …
    thanks for these videos Don

  23. semicomer said on May 28th at 9:51 pm:

    When I came to the …
    When I came to the US, I didn’t understand why people had to use credit card. Then when I was going to college all the way back to 1996, I argued with my professor not to use credit card, she thought that was a ridiculous idea. Americans are just so addicted to consumption. Every thanksgiving, when I go to shopping malls, I am just confused why people carrying so many bags back home. I hate to shop. I still own a few shoes I bought 14 years ago. Americans need to be educated.

  24. caganb said on May 28th at 9:51 pm:

    100% correct
    100% correct

  25. lordgaladedrid said on May 28th at 9:51 pm:

    I use my credit …
    I use my credit cards to buy gold and silver - then I sell a bit of it to pay em off (and keep the rest when this phony economy blows up)

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