Still Hating America.

[Replaced_Texan]

Originally posted by sebastian_dangerfield
They're equally bad and good, and one should not be singled out without reference to the other, since they often work in concert (the issuers milk all the fees they can from the debtor, then the payday lenders get the final scraps).

What we're ignoring, however, is the debtor's responsibility in this mess. I can assure you, the average bad debt on a credit card or default on a mortgage is the result of a emergency medical expense. It's usually got a lot more to do with "emregencies" like the purchase of a luxury auto, plasma television, etc...

Someone should sue Madison Ave.

From the article:

• Tinita was suffering from the early stages of what John de Graaf, in the title of his recent book, dubs "affluenza": "a painful, contagious, socially transmitted condition of overload, debt, anxiety, and waste resulting from the dogged pursuit of more." De Graaf, a veteran producer of PBS documentaries on consumer culture, traces the root of affluenza to ubiquitous advertisements and marketing. Between 1935 and 2004, adjusted for inflation, U.S. media advertising expenditures increased by nearly a factor of ten. The fastest-growing advertising sector for more than a decade has targeted children, who now tend to be highly brand-aware, even in low-income families. "The whole purpose of this is to train people from a very, very early age on that it's about spending everything you have, more than you have, in many cases," de Graaf says. "Because life is about the stuff, it's about the brands."

[sebastian_dangerfield]

Originally posted by ltl/fb
Read? What? Who do you think you are talking to?

Anyway, he, and everyone he knows and/or is related to, is solidly middle-class, if not lower-middle-class, so if they've managed to avoid the traps, clearly everyone who has been roped in is just irresponsible/stupid.

Oh, there are waaaay more people in my income category in this mess than the press discusses.

Yes. Falling into one of these traps does make one stupid. I understand the feeling after I graduated from law school with debts to pay. I was stupid. I didn't sue law school, though they entirely lied about the career. Hey, I got taken. Live and learn... I deserved it.

[ltl/fb]

Originally posted by sebastian_dangerfield
I understand the feeling after I graduated from law school with debts to pay. I was stupid. I didn't sue law school, though they entirely lied about the career. Hey, I got taken. Live and learn... I deserved it.

This is so inane and ridiculous and self-pitying and a million other synonyms that it almost made me vomit.

[Shape Shifter]

Originally posted by sebastian_dangerfield
They're equally bad and good, and one should not be singled out without reference to the other, since they often work in concert (the issuers milk all the fees they can from the debtor, then the payday lenders get the final scraps).

What we're ignoring, however, is the debtor's responsibility in this mess. I can assure you, the average bad debt on a credit card or default on a mortgage is not the result of a emergency medical expense. It's usually got a lot more to do with "emergencies" like the purchase of a luxury auto, plasma television, etc...

Someone should sue Madison Ave.

• Study links bankruptcy, medical issues
  
  Jodie Snyder
  The Arizona Republic
  Feb. 2, 2005 12:00 AM
  
  Medical problems contributed to about half of all personal bankruptcies in 2001, according to a national study released today.
  
  The study, which was done by researchers at Harvard Law School and Harvard Medical School, is the first in-depth study of medical causes of bankruptcy.
  
  "Our study is frightening. Unless you're Bill Gates, you're just one serious illness away from bankruptcy," said Dr. David Himmelstein, the study's lead author. advertisement
  
  
  
  
  For Claudia, a 46-year-old Phoenix woman, the collision between her failing health and strapped budget is terrifying.
  
  Last year, she had $50,000 worth of cardiac care and then was told she couldn't qualify for Medicaid because her husband, a construction worker, makes too much money - $18,000 a year.
  
  Since then, Claudia has stopped doing odd jobs outside the house. Her daughter has dropped out of law school to work at Target to pitch in. The family thinks filing for bankruptcy protection may be their only hope.
  
  "I never, ever thought it would get to this point," she said.
  
  But it's not just people who lack health insurance who file for bankruptcy protection, the study said.
  
  Himmelstein said researchers were surprised by the large number of filers who had health insurance.
  
  Many patients had to contend with unaffordable co-payments, deductibles and bills for uncovered items like physical therapy, psychiatric care and prescription drugs.
  
  "They were not counting on exclusions, loopholes and large out-of-pocket expenses. Too often, private health insurance is an umbrella that melts in the rain," Himmelstein said.
  
  The study also stressed many families were bankrupted by medical expenses well below the high-deductible plans that are increasingly popular with employers.

http://www.azcentral.com/health/news...ankrupt02.html

[ltl/fb]

Originally posted by Shape Shifter

• Study links bankruptcy, medical issues
  
  Jodie Snyder
  The Arizona Republic
  Feb. 2, 2005 12:00 AM
  
  Medical problems contributed to about half of all personal bankruptcies in 2001, according to a national study released today.
  
  The study, which was done by researchers at Harvard Law School and Harvard Medical School, is the first in-depth study of medical causes of bankruptcy.
  
  "Our study is frightening. Unless you're Bill Gates, you're just one serious illness away from bankruptcy," said Dr. David Himmelstein, the study's lead author. advertisement
  
  
  
  
  For Claudia, a 46-year-old Phoenix woman, the collision between her failing health and strapped budget is terrifying.
  
  Last year, she had $50,000 worth of cardiac care and then was told she couldn't qualify for Medicaid because her husband, a construction worker, makes too much money - $18,000 a year.
  
  Since then, Claudia has stopped doing odd jobs outside the house. Her daughter has dropped out of law school to work at Target to pitch in. The family thinks filing for bankruptcy protection may be their only hope.
  
  "I never, ever thought it would get to this point," she said.
  
  But it's not just people who lack health insurance who file for bankruptcy protection, the study said.
  
  Himmelstein said researchers were surprised by the large number of filers who had health insurance.
  
  Many patients had to contend with unaffordable co-payments, deductibles and bills for uncovered items like physical therapy, psychiatric care and prescription drugs.
  
  "They were not counting on exclusions, loopholes and large out-of-pocket expenses. Too often, private health insurance is an umbrella that melts in the rain," Himmelstein said.
  
  The study also stressed many families were bankrupted by medical expenses well below the high-deductible plans that are increasingly popular with employers.

http://www.azcentral.com/health/news...ankrupt02.html

Only RT and a couple other people might get this incredibly funny joke, but . . .

"People with HDHPs can have contribute to an HSA -- PRETAX! What's the worry?"

[Shape Shifter]

Originally posted by ltl/fb
Only RT and a couple other people might get this incredibly funny joke, but . . .

"People with HDHPs can have contribute to an HSA -- PRETAX! What's the worry?"

Does that have something to do with a television? Does this tie back to sebby's consumerism comment?

[Not Bob]

Originally posted by ltl/fb
This is so inane and ridiculous and self-pitying and a million other synonyms that it almost made me vomit.

Sweetie, it's Sebby. We aren't supposed to take him seriously. He sees Edward's comments, and he thinks of his cousin with the interest only floating rate loan used to buy the beach house, not of the copy center clerk paying 345% to Jackson Hewitt for a refund anticipation loan so that he can get his car fixed to keep his job.

Sebby, for a disctinction between the problems of rich loan defaulters, upper middle class loan defaulters, and working class loan defaulters, re-read Tom Wolfe's A Man In Full.

[ltl/fb]

Originally posted by Shape Shifter
Does that have something to do with a television? Does this tie back to sebby's consumerism comment?

Yes, it has to do with television -- BOC. I don't recall his consumerism comment.

[Tyrone Slothrop]

Jodie Foster is the 43rd most powerful gay/lesbian in America. Go figure.

[Hank Chinaski]

Originally posted by Tyrone Slothrop
Jodie Foster is the 43rd most powerful gay/lesbian in America. Go figure.

what about Condi? they don't read your blog?

[Replaced_Texan]

Originally posted by Tyrone Slothrop
Jodie Foster is the 43rd most powerful gay/lesbian in America. Go figure.

And Andrew Sullivan is 12th????

[Mmmm, Burger (C.J.)]

Originally posted by sebastian_dangerfield
Is Edwards saying some people aren't smart enough to borrow properly and need extra protection?

Either you believe in teh market or you believe in paternalism. Apparently a lot of America would be better off if they did not have access to credit and other lent money.

[Mmmm, Burger (C.J.)]

Originally posted by Shape Shifter [list]Study links bankruptcy, medical issues

That's a bankruptcy reform issue, no?

[sebastian_dangerfield]

Originally posted by Mmmm, Burger (C.J.)
That's a bankruptcy reform issue, no?

A distinction without a difference when you're as right as rain.

[sebastian_dangerfield]

Originally posted by ltl/fb
Yes, it has to do with television -- BOC. I don't recall his consumerism comment.

Blue Oyster Cult has nothing to do with this.