Man: Honey, look! Our troubles are over - this nice credit card company has sent us a free card! Punk: Oh, goodie! Now we can afford a new SUV to live in!
I agree with smullen, but I think it goes both ways. Corporations have to begin paying attention to what is best for the consumer, as well as the common good, again.
We don’t allow drug dealers the defense of, “They chose to abuse the drugs, I just provided the product.” It’s the same thing with credit providers/pushers.
While individuals’ need for instant gratification is partly to blame, it is only partly to blame. The credit card industry mushroomed in the ‘80’s for many reasons, among them the decision by retailers to stop servicing their own debt paper and assign it instead to the banks. Used to be, consumers could make major purchases by buying “on time” or “on layaway” directly from the merchant. No more. Once the banks controlled the debt, they introduced marketing into the mix to create the need. Seen the commercial where everyone’s using their card, having a great time, then someone stops the party and slows the line down by scrounging around for cash? Message: cash, old fashioned and slow; plastic, sleek and hip. Marketing and banks.
monstermaker almost 16 years ago
Sad but true…credit card companies love to draw you into debt, and keep you there until you’ve nothing left.
T1nd0g almost 16 years ago
If you can’t pay off your balance in 3 months time, you’ve over used your credit cards.
Herbabee almost 16 years ago
“We can’t blame corporate america for our own weaknesses.”
Then why all the emphasis on slick advertising? Mind control.
T1nd0g almost 16 years ago
Herbabee, simply turn off your tv.
Herbabee almost 16 years ago
^ But when “media is the opiate of the masses” try telling them.
(not that adverts are the prime culprit, but they sure like to grease the wheels!)
ehurst almost 16 years ago
I agree with smullen, but I think it goes both ways. Corporations have to begin paying attention to what is best for the consumer, as well as the common good, again.
We don’t allow drug dealers the defense of, “They chose to abuse the drugs, I just provided the product.” It’s the same thing with credit providers/pushers.
jakcarr55 almost 16 years ago
While individuals’ need for instant gratification is partly to blame, it is only partly to blame. The credit card industry mushroomed in the ‘80’s for many reasons, among them the decision by retailers to stop servicing their own debt paper and assign it instead to the banks. Used to be, consumers could make major purchases by buying “on time” or “on layaway” directly from the merchant. No more. Once the banks controlled the debt, they introduced marketing into the mix to create the need. Seen the commercial where everyone’s using their card, having a great time, then someone stops the party and slows the line down by scrounging around for cash? Message: cash, old fashioned and slow; plastic, sleek and hip. Marketing and banks.