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Why are businesses allowed to deceive us?

 
black 2019-08-20 15:09:21 

In car commercials on the radio, the disclaimers are read so fast, it's impossible to understand them..

On television, actors play doctors and swear by products they probably never used.

Fine print disclaimers on some purchases are so small, most people don't even bother to read them.

Some businesses don't even bother to tell you about add-on charges until after you've made the purchase.

And, do we need sexy women on TV to sell candy bars?

 
Runs 2019-08-20 15:23:00 

We are bringing back jobs, winning bigly, so tired of winning, are you?


Pittsburgh-based United States Steel plans to halt production at a Michigan plant, resulting in a temporary layoff of up to 200 workers
.

 
black 2019-08-20 15:34:04 

My favorite is the 9/10 cent added to the purchase of a gallon of gas and they round up on the final price.

 
SnoopDog 2019-08-20 16:07:15 

In reply to black

And, do we need sexy women on TV to sell candy bars, beer, cars, bubble gum, bowling balls, shaving cream, pencils, toilet bowl cleaners, 5000 rpm hand drills, bottled water, chia pets.....?


Yes we do. Yes we do.

Now piss off. lol

 
black 2019-08-20 16:43:54 

In reply to SnoopDog

lol lol lol

 
goofballs 2019-08-20 16:49:21 

In reply to SnoopDog

Endorsed!@ smile

 
goofballs 2019-08-20 16:50:33 

In reply to black

A lot of improvements were made wrt credit cards fooling the people with fine print and charging of fees.

 
black 2019-08-20 17:19:58 

In reply to goofballs

If only they could do something about the interest rates. lol

 
SnoopDog 2019-08-20 17:35:12 

In reply to goofballs

A lot of improvements were made wrt credit cards fooling the people with fine print and charging of fees.


The biggest scam invented by the banking industry was implementing the "pay the monthly minimum" on your credit card balance.

It ensured a bottomless pit of personal debt vis perpetual compounding interest.

 
black 2019-08-20 17:38:28 

In reply to SnoopDog

I agree.

 
SnoopDog 2019-08-20 17:50:53 

In reply to black

I remember once a guy who came to see me because he got sued by the bank for defaulting on his credit card.

He was about $12K in the hole. He said when he first got the card the limit was only $1000 then they kept increasing it and he just kept buying shit up and paying only the monthly minimum. Then when it hit $10K he couldn't afford to pay even the monthly minimum. So he just told himself "fcuk it" and decided he wasn't going to pay anything any longer. lol

The consultation ended when he admitted he could pay for no more than 2 billable hours. lol

 
black 2019-08-20 17:58:59 

In reply to SnoopDog

Wow! They thought they had a sucker until he went broke. lol

 
SnoopDog 2019-08-20 18:04:54 

In reply to black

He was lucky that he didn't own a home or anything of value which could be subject to seizure and sale or liens and writs.

Sadly a lot of middle class people who get into credit card debt own homes.

 
Runs 2019-08-20 18:27:02 

In reply to SnoopDog

Many refinance and use equity on houses to pay off and buy cars etc living like Maharajas
lol until economy tanks, loses job and end up in bankruptcy
2021 we shall read about many such sad stories, immigrants are not immune wink

Greenspan called it irrational exuberance, Runs calls it monopoly millionaires lol

 
SnoopDog 2019-08-20 18:52:12 

In reply to Runs

Yeah. A lot of the credit card debt gets absorbed by way of mortgage refinancing.

But it means the bank now has a bigger piece of your home equity and the home owner gets the privilege of paying it back at a higher interest rate.

 
SnoopDog 2019-08-20 18:58:44 

In reply to Runs

2021 we shall read about many such sad stories, immigrants are not immune


One of my uncle was telling me the other day he's worried about how his investments are doing because the market these days is in the shits.

I said pick a time in the next few months when it's up and cash the fcuk out. Eventually, when the market goes to complete shit (a la 2008 ) in the next year or two he'll have cash on hand and plenty of cheap stocks and property to buy. lol

 
Runs 2019-08-20 19:41:20 

In reply to SnoopDog

Yep, has to look at his age also and factor in life expectancy and what he wishes to do with it. I am tired of seeing people miscalculating and dying, working hard and investing their entire lives only to have some loser relatives reap the fruits of their labor.

Actuarial calculations bro cool

 
black 2019-08-20 23:06:41 

In reply to SnoopDog

The consultation ended when he admitted he could pay for no more than 2 billable hours


Maybe he was trying to rip you off too? lol