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View Diary: They Are the 1% - A Really Scary Follow Up (95 comments)

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  •  My grandparents (1+ / 0-)
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    sc kitty

    grew up during the great depression (in Oklahoma to boot) and one thing they were always telling me was that credit is pretty much the worst thing. My family struggled while I was growing up even though they were using credit cards to fill in the gaps. Unlike their friends they didn't buy a nice big house or new cars or any of the other things that people were getting with their credit.

    Now many of those same people have lost their homes, jobs, and everything they had built up. It isn't that they didn't deserve to able to afford those things, I certainly think my parents would have loved to not live in the house my mom grew up in, but big business fed this lie to the American people that we MUST have credit if we want to be able to buy a house or a car.

    So people are forced to get cards and such so that they can build their credit so that they can buy the things they want, even if they would have been fine without having to build up their credit rating first. Just like how most have to take out loans to afford college so they can afford to live off what they are paid.

    So now my grandparents, huge democrats, look at what has happened and talk about how credit is a money scam (and their evidence is the financial crisis). My grandparents have always been wary of banks and businesses because they understand that these people are not working for the American people but for profit.

    •  heck, my uncle (also from the Depression era) (0+ / 0-)

      didn't trust the banks.  

      he put his money in glass jars then buried them in his back yard.  no mattress for him!  what if the house burnt down!?

      Faux News ruined my state

      by sc kitty on Mon Oct 10, 2011 at 02:21:57 PM PDT

      [ Parent ]

      •  Yeah (0+ / 0-)

        that's a bit extreme. It is interesting talking to them about what is happening, I really enjoy their perspective. I went to move to a credit union today until I realize when I drove up that it was a holiday--boo.

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