Thank you DU. I've seen the light!

[sinkingfeeling]

I have about $85,000 in unused credit on a couple of credit cards I've had for years. Because I now know that there is nothing wrong or immoral in buying things on credit and then not paying for them, I need your help. What should I spend my $85,000 on? I'm thinking a trip around the world, because by the time I get back, the credit card companies might be getting the clue that I'm defaulting and they won't have anything to 'repossess' if I take a trip.

[Fresh_Start]

1. I'd travel the world if I were inclined to do the same

unless of course you've already travelled all over the world

[Angela Shelley]

2. You can come visit me, I just bought a mansion

and have decided that I´m not going to make the payments :party:

[Hydra]

3. Try and move to some place that uses Euros

Cheney swears by them, and he probably knows something you don't :evilgrin:

[Angela Shelley]

4. Hi Hydra, you should come along for the party!

[Hydra]

6. I've been trying to emigrate for years now!

:evilgrin:

1 problem- being a wage slave, I find it hard to visit the state next to me, let alone moving to someplace that uses Euros.

[leftofthedial]

5. buy me a car

thanks

[sinkingfeeling]

8. I would, but then they just might repossess your car.

[leftofthedial]

11. They'd have to catch me first

[Ganja Ninja]

7. I'm sure Skinner would appreciate an $85,000.00 donation. n/t

[jgraz]

9. I think you should invest in some better straw men

The one you have is looking a little ragged.

[islandmkl]

10. you are trying just spend the $85,000 as cash with no asset gain...

you want to know what the whole discussion is about...take the credit cards and use them to make a down payment on a house with a loan that you can marginally afford (at the moment)...you can even be 'smarter' than all the people completely upside down with ARM's and read the fine print and understand, with an ability to legally understand your position in the loan, all the expressed conditions. Yeah, you're the smart one who is not in financial trouble...not because you are smart...but because you weren't in a position (yet) to be preyed on and scammed. Check the stats: most of the foreclosures are not because of speculation nor 'deadbeat-ism'...they are the result of predatory mortgage companies and their fraudulent lending practices.

[sinkingfeeling]

14. The article that started the first discussion wasn't about subprimes or ARMs, it was

about people who could/can afford mortgages that are walking away because of a drop in real estate values and don't want to 'own' a home that is worth less than the mortgaged amount.

P.S. Lots and lots of people spend tens of thousands of 'credit' dollars on junk they don't need and then don't pay for.

[El Pinko]

17. Millions with credit card debt are spending on food and gas because their incomes haven't kept up.

But it must be nice to sit in a comfy place of judgment...

[Contrary1]

18. You are right about that...

My daughter's financial problems are not due to living beyond her means. With everything going up, but wages, it is not too difficult to fall behind. Part time jobs are getting harder to find.

What the hell are people supposed to do after they have used up their savings, and still can't keep their heads above water?

[Habibi]

12. Oooh! Do other countries count "credit" as part of your

assets? 'Cause then maybe you could emigrate.

[Subdivisions]

13. Spend it on preparing for post-peak oil and the economic crash. n/t

[rateyes]

15. Pay off my mortgage. They won't be able to repossess my

home, because the payments are made---and, you still won't have anything to repossess. Plus, I'll be your BFF!!

[El Pinko]

16. Assuming your $85K was collateralized by a Ferrari...

...which the bank could reposess when you default, there might be a valid comparison to the reverse mortgage topic....

[donheld]

19. "What should I spend my $85,000 on?" Me

:hide: :D

[HiFructosePronSyrup]

20. Did you lose an argument about usury law?

:shrug:

[enki23]

21. what an inane post

.

[Uben]

22. Personally, I think whores and whiskey....

....are a good investment, but that's just me. There may be better choices.

[annabanana]

23. "Be a Producer". . .a "Broadway Angel". . . n/t

[stillcool]

24. I didn't realize every one was doing that....

I thought it was about interest rates, and the Bush touted "home ownership propaganda campaign". I suppose everyone with outstanding credit card debt could be thrown in jail until they work off what they owe...plus interest of course. I don't have credit card debt but the "Big House" is now my retirement plan. Now if you spent like 80 million you didn't have..you'd be a Cabinet member in the White House.