[meteorite-list] Meteorite sales falling with the stock

[Ted Bunch]

Well said John! Probably one of the best summaries of why there is a credit
problem. A few months ago a news item came out that said the average credit
card balance was ~ $8000+. Add that to a car payment and the mortgage and it
is a no-brainer to understand Main Street's credit problem, which of course
led to the greed of lending institutions. There is "no cure for stupidity".

I went into Wal Mart yesterday for a flu shot and asked the stabber if she
had a vaccine for stupid and she said no, but wished she did "we could make
billions".

Ted Bunch


On 10/13/08 10:15 AM, "John Gwilliam" <jkgwilliam at gmail.com> wrote:


> We can point finger in all directions and blame a whole basket full of

> politicians, business leaders and everyone and anyone else.  One thing

> we need to address ( in my uneducated opinion) is the over spending by

> the regular folks on Main street.  It used to be people saved up

> enough money until they had a 20% down payment for a house and only

> used credit for other items like a vehicle (not two or three) and

> education.  These days, many of us citizens make purchases on credit

> that we really can't afford.  after all, why do we put "thing" on our

> credit cards?  Because we don't have the cash. Optimistically, we

> always believe our financial outlook will be brighter in the future

> and we'll be able to pay off the credit card quickly.  Sadly, it's

> that's usually not the case.

> 

> Those of you who are my age (56) or older might remember the "lay

> away" plan that many department stores used to have.  You went into

> the store every week or two and paid five or tens bucks on an item

> they were holding for you.  When you paid for the item in full, they

> handed it to you and you had a brand new "thing" - a washer, dryer or

> bike for one of your kids.  Nowdays, we put the "thing" on a credit

> card and by the time most of us get it paid off the "thing" is worn

> out or dead and gone.

> 

> It's time for all of us to take a hard look at our spending

> habits...along with who we vote into office and how we use our money.

> 

> Sure, we're in a big mess.  But if everyone learns from this mistake

> we can all be doing better down the road weither it's in one year or

> five years.

> 

> Best,

> 

> John Gwilliam

> 

> On Mon, Oct 13, 2008 at 9:32 AM,  <valparint at aol.com> wrote:

>>