New Bankruptcy Law takes effect Oct 1st.

[asleepathewheel]

Originally posted by Odin
Blaming individuals for a problem that is a result of a f*cked up material wealth = status society:

Thanks for the laugh.

Yes, lets blame everything on society. These people aren't responsible for purchasing $120 shoes and new cars instead putting away the money in case of emergency.

[Ming]

Yes Oerdin... if indeed the evil banks and fianancial company were to do as you suggest, the little guy would be hit even worse because they would NEVER be able to get credit. Only people with money would get credit. So be careful of what you wish for

And I do feel for people who due to situations beyond their control get in over their heads. There should be system in place to protect these people and help them start over. And I agree that this new law isn't it.

However, a change had to made. Too many people were acting in an irresponsible manner buying tons of luxeries, and then legally walking away from their resposinbilites... yet still keeping their nice cars and homes. I only wish the law had been revised to stop that practice, but still provide a safety blanket for those that really needed it.

And I laugh at the concept that we should blame society for people's individual greed.

[DanS]

A high savings rate is not in itself a good thing. In part, we have the lowest savings rate because we have the most stable economy.

[BlackCat]

When I started reading this thread, I was mildly amused and thougth that it was a joke, but as it went on, I realized that it was seriosly meant.

To say it shortly, current state has been just redicious and it's about time that you get that law that is closing up.

It's simply crazy to expect that you can keep houses, cars etc when you can't pay what you owe.

Arguments has been that it's to protect people from backlashes in case of illness and divorce, but I don't buy that. I know that you don't have public health care, but then get insurance - it may not be cheap, but that is how the game is played. It may mean that you must drop a bathroom, but seriously, I guess that you survive.

The same about divorce. What's the problem ? Why do you need to keep the house after a divorce ? Sell it and move to something cheaper/smaller.

It's quite pathetic to hear all this whining over not more to being able to build up big debts and then saying - sorry, I can't pay what I owe so you people that I owe money are now screwed.

[Imran Siddiqui]

Originally posted by DanS
A high savings rate is not in itself a good thing. In part, we have the lowest savings rate because we have the most stable economy.

Sorry Dan... but the reason a low savings rate isn't destroying us is because we are getting investment from overseas... but that isn't going to last forever. Remember in basic economics, Savings = Investment.

[DanS]

What we have now is not a low savings rate. Rather, it's a negative savings rate. But I expect this situation is temporary.

[chequita guevara]

Originally posted by Ming
Too many people were acting in an irresponsible manner buying tons of luxeries, and then legally walking away from their resposinbilites.

This was a rather small minority of individuals. This law is the equivalent of ending fire insurance because some people committ arson.

Enough the the GOP talking points and put up some statistics to back your claim that it is consumer abuse that is driving this bill. We've had two threads on this subject in the past, and both times I posted real data about who was actually going bankrupt. I don't have that in front of me anymore, unfortunately, but it shut everyone up.

[BlackCat]

Originally posted by chegitz guevara

This was a rather small minority of individuals. This law is the equivalent of ending fire insurance because some people committ arson.

I really have problem understanding what is wrong with this bill. I admit that your lack of public health care can be a problem, but besides that, I don't understand what is wrong with it.

[Odin]

Originally posted by asleepathewheel


Thanks for the laugh.

Yes, lets blame everything on society. These people aren't responsible for purchasing $120 shoes and new cars instead putting away the money in case of emergency.

Humans arn't rational, everone does things that are stupid out of a sub-conscious desire to improve thier status. Our society is at fault because as children we are bombarded by mesages saying that buys expensive stuff, like $120 Nikes, makes you cool. That influences our spending habits as adults. You are falling for the Libertarian assertion the onlty the individual matters and that people have complete and rational control over thier decisions, an idea that is false, or else Ming and other people employed in influencing people's decisions would be out of a job.

[chequita guevara]

http://apolyton.net/forums/showthread.php?s=&threadid=99214

[BlackCat]

Originally posted by Odin



Humans arn't rational, everone does things that are stupid out of a sub-conscious desire to improve thier status. Our society is at fault because as children we are bombarded by mesages saying that buys expensive stuff, like $120 Nikes, makes you cool. That influences our spending habits as adults. You are falling for the Libertarian assertion the onlty the individual matters and that people have complete and rational control over thier decisions, an idea that is false, or else Ming and other people employed in influencing people's decisions would be out of a job.

Quite right, but why should you be given free rides when you buy too many $120 nikes ?

And no, I'm not a extreme right wing freak not giving mercy on the unfortunate - I live in a country where the left wing has had plenty of chances to make something similiar to us bankrupcy laws, but they haven't, so if I can't pay my bills, my house get on forced sale (I'm not sure thats the right way to say tvangsauuktion).

[chequita guevara]

Bankruptcy is one of the things that makes America better than Europe. After independence, our founding fathers wanted to ensure that no one could be put in prison for debt, that people whose circumstances got out of control could wipe their debts and start again.

As the link I dredged out of the archives shows, It is not consumer spending that is causing bankruptcy.

[BlackCat]

Originally posted by chegitz guevara
http://apolyton.net/forums/showthrea...threadid=99214

Read it, but can't really find valid arguments. What I can read is that people want more than they can get.

[chequita guevara]

Most people do, but that's not what it says. It says that housing costs have exploded in the U.S., and that people generally are able to pay for the homes they purchase,but when they suffer an economic difficulty, they become in danger of losing everything.

Most of you foreign devils don't get to own homes anyway. You don't get it.

[BlackCat]

Originally posted by chegitz guevara
Most people do, but that's not what it says. It says that housing costs have exploded in the U.S., and that people generally are able to pay for the homes they purchase,but when they suffer an economic difficulty, they become in danger of losing everything.

Most of you foreign devils don't get to own homes anyway. You don't get it.

Now, there is a good example of stereotypical thinking.



More than half of danes owns their homes. Can't give exact number since the "Danmarks statistik" site seems to be down. And yes, prices has exploded here too, but that doesn't change that you only buy what you can afford.