Barack Obama wants to Hear From YOU!

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Let Barack Obama know what is on your mind. I think you have until June 02, midnight, 2009 to let him know. Here is the link.

It looks like there is one issue that is heads and shoulders above the others by the name of "Let me see your papers", aka Birth Certificate.

For me there is a second issue, and that is the right to OPT OUT of any financial agreement when there is a proposed change in terms by the bank or credit card company. When a bank or credit card company wants to change the original agreement that both sides had been honoring, citizens should have the right to opt out, also known as, just say no.

Edit update, well, there have been 38 yes's to my OPT OUT as a consumer right, and only 3 or 4 no's. Sadly, two of those no's were from wanna be PUMA's who were so rabidly for Barack Obama revealing his birth certificate, they just spammed other topics and voted no against anything that was not about the Barack Obama certificate.  Of the 38 yes votes for my OPT OUT topic, most of them have come from outside of this blog. That is kind of a wake up call for me.

I am struggling with how PUMA's can be for Barack Obama revealing his birth certificate, but be ambivalent towards fighting so their neighbors don't lose their homes to unfair and usurious credit card interest rate increase tactics that are also suffocating the local economies all over the country, which actually affects everybody.

Credit Card Companies Increase Global Warming Risk Every Time they Increase Interest Rates on Old Credit Card Debt.

While the media trains us to believe that Wall Street is the God of all Gods, the wall street banks that received huge amounts of bailout money from the government continue to RAISE their credit card interest rates on their customers.

It is one thing to charge higher interest rates on new credit card debt, but it is evil to retroactively raise the credit card interest rate on old debt. The longer it takes a consumer to pay off an old credit card debt because banks are now increasing credit card interest rates, the more that consumer has to work to pay off their old, ever rising debt, and the less money there is available to maintain the present economy.

Old credit card debt requires the consumption of even more of the earth's resources by that consumer/worker as they attempt to earn more money so they can pay down their old debt that the banks have already profited from handsomely.  If this old debt could be paid down to zero, than the person has a choice, either buy new products, but at a slower rate, or just consume less and not run up new debt.

Plus, if the monthly minimum payment were increased to 8 or 10% of the total due, most people would not run up as much debt as they did when the monthly minimum payment was 2% of the total due, and more of their payment would go towards principle as well.  The higher monthly minimum payment would help conserve the world's resources by reducing life long indenturedness.  Life long indenturedness helps cause global warming, assuming you believe global warming is occurring.

Show me jobs that don't require the earth's resources and everyone could be a millionaire. Show me a person working to pay down an old debt that continues to inflate because of 15, 20 and 30% interest rates, and I'll show you why we are doomed as a planet.

Yes, older credit card debt causes increased global warming risks. If you don't believe in global warming risks, the accelerated overuse of limited earth resources occurs when people work to earn money to pay off old credit card debt that the banks have already profited from.

Old credit card debt continues to increase and multiply because of the obscene interest rates associated with them, sort of like the way cancer increases and multiplies. If you think cancer is good, then so is old, high interest, credit card debt.

As we move forward, the argument can be made that raising interest rates on NEW DEBT will result in less overall money being borrowed, and therefore the more profitable the bank's credit card divisions will become. In other words, people will borrow less money overall, but banks will profit more quickly from the higher interest rates. Additionally, a borrower will see more quickly how much they can actually afford to borrow before they can no longer afford the monthly payments.

However, those sneaky low monthly minimum credit card payments still entrap many consumers who use credit cards, and that is the way the banks have always wanted it, and is a significant part of the debt problem nowadays. If banks had just charged higher monthly minimums all along, there would be a lot less debt right now.

Do you see what is happening? LESS IS MORE! Banks give out less money, but charge higher interest rates, thereby making the God of Cable Media, Wall Street, happy. The problem is the EXISTING CONSUMER CREDIT CARD DEBT that was borrowed when everybody had more wealth and opportunities to pay it off, has gotten railroaded into the new, less money borrowed, higher interest rate charged paradigm. The result is increasing consumer indenturedness from their old time credit card debt, which in turn suffocates the worldwide economy from maintaining as we move forward.

Banks were forgiven on their old time debt, can consumers at least have the luxury of paying down their OLD CREDIT CARD DEBTS INTEREST FREE? The ratio of unsecured debt versus home equity has never been worse, and to allow the banks to continue to charge outrageous interest rates on old time credit card debt that they have already made huge profits from is an abomination that will offset any consumer benefit that lower mortgage rates may bring.

What makes Wall Street happy, does not necessarily translate into better times for the consumer, and that is something the media refuses to acknowledge, let alone report.