No longer am I angry at the growing disparity between the rich and poor in this country. This is a self inflicted wound that keeps growing bigger yet the poor have no one to blame but themselves.
A financial page article in today's Chicago Tribune has left me shaking my head and asking the question, How Stupid is You? The headline read: Bank overdraft fees total $17.5 billion. Boys and girls that is not a typographical error that is a B not an M.
People magazine's readership far outnumber that of any financial magazine. People now know more about the lives of personalities such as movie stars and pro athletes then they do of their own personal finances. We are making others rich with high credit card debt and usury-like fines. We get taken to the cleaners, as others clean up.
Not a peep is heard from the public as banks manipulate deposits, and enter checks out of order to ensure these fees keep going higher. It is more important to know up to the minute stats on your favorite ball players, and the blunders of Hollywood personalities, then what is happening to the few dollars you have.
We are told to wait until this next election, we are going to get rid of those money grubbing Republicans. The Democrats are going to tax the rich and make them pay their share. Things will get a whole lot better.
The question should be for whom? Surely it won't be for you.
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6 comments:
Whoa! I like the modern look!
And you know how I feel about the overdrafts! Arrggghh! Nice post.
Just trying to confuse people into thinking, I actually know how to work this contraption.
You have indeed confused me into thinking. Thanks for visiting my blog, glad you like the post. The fact that I am Turkish and have lived in the UK for eight years would explain the good-natured approach and the dry British humour. =)
I like the new look, too!
Debt is so rampant in America, there should be some basic personal finance testing required to get a high school degree. I understand that people wouldn't want to have to take a class to get a credit card or open a checking account. I also understand people who just don't like to read directions and aren't money savy. But, like you said, $17.5 billion in overdraft fees? There needs to be some required instruction at a basic educational level to cut this out, because it's gone past hurting individuals...this sort of debt can be detrimental to a society as a whole. On the other hand, if I were a banker, I'd strongly disagree with giving more people the basic skill knowledge so they would avoid encountering those overdraft charges.
One thing many people don't realize. Even if you are like me and pay your credit card off every month. If you should make a partial paymeant one month, and then go back to paying it off again you will always be charged intrest on your account, unless you go a full cycle without charging anything and receice a bill of 00.00. Then and only then they will not charge intrest.
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