All Hat & NO Cattle!

I think Lyndon Johnson once used that term to describe people whom he thought were easy to manipulate due to the fact that they had little assets but acted as if they did!

In today's society, we have those kind everywhere by the tons. Deal in millions, owe multi-millions!

Those who live like high-society--spending like crazy, but the old credit card or house debt is climbing and wriggling like a snake getting away from a mongoose!

It is fashionably acceptable now to owe more on your than your house is worth by as much as 30%; to have as many credit cards as needed to purchase whatever you see that you want, as long as you can pay the interest.
When you can't you go to the loan combiners, and that is where you actually go broke.

I have discovered that humans will do all that if allowed to do so! In my younger days we wouldn't have been allowed to do that by the finance industry--even if we had even considered it--due to the shame of our mismanagement!

In those days, I wouldn't even have considered living in Fayette County if I could afford to live like the others! We now have more who can't afford to live here than can. And they even brag about it--I'll just walk away they say!

Although church members, they don't render unto Caesar!

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Banks allowed it, but...
Submitted by Nitpickers on Tue, 01/13/2009 - 8:31pm.

People will take advantage of a gift!

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All House and Car & Cred Card & No Cash
Submitted by Bonkers on Sun, 11/23/2008 - 9:59am.

Now that the 401-ks (mostly donated by the employer) are not worth very much and may not ever be, those who live like the above subject of this comment are in real touble!

Many of those companies who are in the 401-ks will do away with their worthless stock and start over under bankruptcy with new stock.

Now if the "conservatives" had their way we also wouldn't have any Social Security or Medicare, much less Medicaid, and there would not be any security blanket, or "safety net" as Ronaldo the Great said it.
(that means those who are willing to humble themselves, prosatrate, in front of the world--admit total failure and promise to do better, will get some food stamps and rent help for awhile--- one medical checkup and some aspirin, with a moral lesson included in each check.

Right now, many are filing Chapter 7 bankruptcy who are not total failures--they just went broke living above their means and brains when catastrophe happened.

We need to learn that all people who work for a living (necessary to) must be frugal in order to live later!
Especially the "conservatives" who want no help later. Or do they? Is AIG, GMC, Delta, Citigroup, Wachovia, Goldman Sachs, Banks, Insurance companies, Credit card companies, Developers, builders, sub-contractors, retailers, wholesalers, and just about anyone who has no net assets.

The horrible thing is---just last month Citigroup, for instance, wanted to buy Wachovia in order to save them! With what were they going to buy them? Same thing Delta bought another airline---worthless stock?
Does anyone know just how many businesses and people Delta did Not pay their bills to when they declared bankruptrcy?

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