CREDIT RATING CHUMPS
Sometimes technology is good, and sometimes it is bad. LED lights are great, e-books are bad for long term storage of knowledge. LED’s will eventually die from lack of workable batteries, but they will long outlive the old school way of emergency lighting. Even storing a 55 gallon drum of kerosene ( assuming you can find it and then afford it ), LED’s and batteries, while providing worse quality light, do provide illumination for a much longer period. In the case of books, the old way is much better. In the case of light, the new is far superior to the old.
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It used to be that you were forced to jealously guard your credit rating as if it was the passport to all of life’s necessities. Oh, goodness golly gosh, if I don’t kiss the bankers ass and pay 200% of the department store merchandise price through interest, then I won’t get the loan to pay 300% of the auto after paying interest, and then I won’t be able to pay four times what the house is worth by paying thirty years of interest. Well, thank goodness for E-Bay and its real estate section. Now you don’t need credit to buy land on payments. Technology is working for the poor trailer trash for once. Of course, we all know you don’t need good credit to buy a used car. Just go down to Joe Bobs Honest Injun Used Car Emporium and pay 20% interest on a piece of crap. Yes, you will end up paying too much for junk land, and a beater trailer and car, but at least you didn’t need good credit to over pay. Pay interest to get more loans to pay interest, or just bypass the middleman and pay all the interest at once.
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I bring this up after reading a question on www.survivalblog.com . Should I pay off my debt or should I buy supplies? Okay, I love reading this site every day, and I throw Rawles a financial bone every once in awhile to pay for the free read. I try to be nice, because despite any flaws I point out, there are a lot of things he does better than me, I believe he is quite sincere, and, hey, it’s free so why am I bitching? But, God, sometimes I am just simply amazed at some of the thinking behind things over there. Should you spend SIX FRIGGIN GRAND on a solar panel? Of course not, I don’t care if the CEO of the company hand delivers it to the door. I don’t care how high quality it is. To throw back the Rawles rule to folks wanting to buy this, one is none. These things can be stolen or damaged, and you want to gamble with six thousand bucks? Sorry, had to get that off my chest. Back to the debt question. You should buy supplies first. Too many bad things are just down the road to take a chance. Buy the hell out of food. Not $1200 grain grinders ( the $25, bought in multiples, will work just fine with extra elbow grease ). Not six thousand dollar PV panels. Bucket after bucket of wheat, corn and beans. Years and years of food per person. After that, then you can buy toys and luxuries like semi-automatic guns. And you should be able to buy all your toys, because you should tell your creditors to dig up your ass for their payment.
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Stop paying on the house, and take the two to twenty months of saved mortgage and buy your junk land and trailer or cabin. Park the car at the bank and give them the keys. And file bankruptcy. Who gives a crap if your credit rating is shot? If we collapse, it doesn’t matter. You have tangibles, they have a bad report card on you. If we don’t collapse, who cares? As long as you did it all legal and proper ( I offer no legal advise-if you want some I’ll charge a 10% finders fee for a lawyer ) your only problem is not being able to get a low interest rate again. I understand there are several problems. Tax liabilities, unemployment at your junk land destination. I’m just making the point that your credit rating, your debt paid in a good little wage slave manner is not as important as getting supplies right friggin now. Why do you want to gamble your life against your standing as a debt holder? You need to figure out what is more important, going down with the ship with the bankers approval ( it isn’t even borrowed money you owe, its thin air created money ) or bailing out like a smart rat.
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14 comments:
Finally someone else has written what I have always felt about debt and the current world situation.
Yeah,screw the bankers.Buy as much food as possible.Lots of problems and no solutions in sight,this shit is depressing!
Jimbo made a good argument, in his case, for loading up with dollar store stuff. claiming to be too old to do much else. Now if he has to flee Bisonia because Texmexico tries to annex Nevada... well that's another story about what he's going to do with his food and inventory ?
Again, as to running out on the mortgage and car payments... assuming your not the other half that are renters or living over the heat grates, is that it might make sense and it might not, depends on your situation...
I mean really what's with the 'trailer' and 'junk land' fetish ? If your out of work, just grab some tarps and plastic and make some tenting way out in the woods...
Need TV ? well there you go ! your fu@ked...
It pains me to admit it, Buzz, but you make a good point. All that is really needed in an emergency is the tarps and nearby woods. In an extreme emergency. So I guess my point is for the best of "normal" living at the cheapest price, legal squat and rigid roofs work best.
Biguns, glad to see you getting depressed. Soon, you will join me in my nightmare of paranoia and dispair! ( insert Dr. Evil laugh ). You were far too relaxed and happy-go-lucky.
Amen Jimmy. What the fuck is paying back your debt going to do for you in a SHTF scenario. Oh wait, maybe the biker gangs will leave you alone if your credit score is 720 or above.
Sigh. I think you should buy food, just in case, and lots of it...but why do I so seldom read traditional survivalists writing about SHTF events in the real world?
Fantasy is fun and all, but what about what goes down during the real deal? Recently there have been earthquakes, tsunamis, and now, in India, there are floods. War is ongoing in several places. Folks are starving in a few places more.
Unless in an actual war zone, there's no fun shoot 'em up gun battles, no crazed zombies to shoot, no Hollywood script stories with cool but predictable twists--just shell-shocked folks waiting to be told what to do.
Their crap is gone, crushed, washed away, burned, blown up, or buried under tons of debris. They are dependent on charity and gov't help to survive.
Hint: Stored crap, food, junk land, and especially spending thousands on guns, don't/won't help out most folks in real life SHTF situations.
In many disasters, crap is gone, poof, or you have to leave your crap and flee if you want to keep breathing.
I agree that a good credit rating might not help either, but what would?
As always, cash...secreted in a few foreign bank accounts too.
I bet those flooded folk in India wish they had the cash to get the heck outta Dodge and watch it all on a TV in a comfortable hotel in Great Britain.
I'm not always the brightest bulb in the pack, but I'd rather have lots of food and water...other than good credit! I don't buy things on credit anyway, having been married several times...I learned my lesson pretty well!
Its nothing more than the green-eyed monster combined with showing off. My grandparents had always taught me needs before wants, live below your means. I just sit back and laugh at the people who make five times what we do and claim they can't "make it". No sympathy.
1991 paid $14,500 cash for woodframe on. 0.44 acres on blacktop five miles from center
of East Texas town of 30K. 76 GMC 4x4 and 95 Jeep GCL 4x4 paid for. We have no debt other than monthly utilites and gasoline. We have
250 gal propane tank for tankless water heater and stove. We live within our income, and save a few dollars a month. We have a couple of old rifles, some ammo and
food stored. In July 2003 I paid $65 for the two airfree polyurethane foam tires on my Trek
bicycle. To date that is 86 cents a month for tires, and no flats :- ). The nice man at the
bicycle shop rode my bike and said he likes the tires but will never sell them. He sells tires and tubes and charges $10 to fix a flat. Purists everywhere insist on pneumatic tires. I have seen them beside the road, their faces ecstatic, engrossed in the sacred ritual of flat repair. To my eternal dismay, I can never join their ranks because I cannot find XXXL-XTall skintght spandex and warp five helmet in my size.
Actually, if there was an organized campaign to get people to just stop paying their debt it might bring all the credit cartels down. And TEOTWAWKI would be upon us. And you would be to blame. Because it all started with your post. You are dangerous and need reeducation therapy.
Seriously, good post and good advice.
I've heard that banks are coming after peoples assets and 401k's now in "Jingle Mail" scenarios. Not an issue if you have $729.84 in the bank and no retirement savings but for someone with a few assets or close to retirement age they might well get what you owe them.
As for 6k on solar panels it depends a lot. If you have 5 years of food for every family member and a paid off home site (or darn close) with a safe full of guns and cash to spend then by all means go for it. As a final thought I don't think you can spend too much on any area of preps. You can however mis allocate resources and spend too much of your money on one thing.
What a breath of fresh air, free of the BS! Thank you Mr. Dakin!
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