Credit

Joe Doakes from Como Park emails:

On the phone, waiting to talk to my bank.  They play ads during the hold Muzak.

“Need extra money this holiday season?  Whether it’s to take the family out of state, buy gifts, or host that holiday party, we have holiday loans available.  Whatever the additional expense may be, use the funds to stretch your budget further.  Qualifications apply.”

Wait – you’ll give me a loan to host a holiday party?  Cars and homes, sure, nobody can save up enough to buy one for cash.  A party?

If lending standards have loosened this far, the nation must truly be prosperous.  What could possibly go wrong?

Joe Doakes

Perhaps…Bitcoin?

4 thoughts on “Credit

  1. Obviously, you are not familiar with today’s prices for strippers and blow. One party can easily set a guy back, big time.

  2. Joe, ya gotta remember that moneylenders do not make their money predominantly by selling to smart people. The bet is that their customers are just likely enough to pay back their loans to keep them in strippers and blow, too.

  3. BB, my bankers and law-talkers never miss one of my parties. And man, they go through a pile of strippers and blow like a Boss.

    Come to think of it, if you don’t invite the bankers, and if Al Franken doesnt show up, you might not need the loan!

  4. The world would be a better place if we got rid of usury. There is nothing wrong with borrowing or lending money to fund an activity that will have a positive return. Where it becomes usury is when the lender knows that the money is not expected to yield a positive return, i.e., the interest paid simply transfers capital from the borrower to the lender. The classic example is money borrowed with expectation that it will be gambled away, and the lender will be repayed by seizing the borrower’s assets.

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