-- CREDIT--

[poddster]

If all your credit cards, loans, and mortgage were called in and you had to finalize them all  by the end of  the financial year (30th June) where would that leave you and what would you do to pay your debt? 

[freddie*rooster]

Yes but are you behaving yourself poddy?

[*crikey*mate*]

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@poddster wrote:

As the country is insolvant it would not be possible for it to make any payments from non existant funds. So if a person was reliant on payment from the country then they would not receive any.

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Then I daresay the majority of us are screwed, cos that also means no subsidized medical (medicare), insurance, education, public transport of any kind etc, isn't electricity govt subsidized? water? sewerage?

What about money that the govt owes? (For example GST - lots of people lodge that annually or quarterly)

I get the point you are making, but Australia isn't a company, and even the ability to pay your debts doesn't guarantee anything if Australia itself goes broke - dependant on to whom Australia is in debt with and who is calling in their dues.

Under the Constitution, the govt can even take back any land property that is fully paid for, as we don't actually own it.

[poddster]

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@freddie*rooster wrote:

Yes but are you behaving yourself poddy?

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Freddie, I always behave, but the debil sometimes gets the upper hand and demands to be heard 🙂

[*mrgrizz*]

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@poddster wrote:

If all your credit cards, loans, and mortgage were called in and you had to finalize them all  by the end of  the financial year (30th June) where would that leave you and what would you do to pay your debt? 

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what a ridiculous question

where would people who have motrgages get $300000 to pay it back?

if they had that money they wouldn't need the loan

[poddster]

Mrgrizz, that just shows people are living way beyond their means which makes them easy targets for enslavement. 😞

[*mrgrizz*]

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@poddster wrote:

Mrgrizz, that just shows people are living way beyond their means which makes them easy targets for enslavement. 😞

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so how do you suggest they buy a home?

wait until they win lotto?

[poddster]

Perhaps it is time that people woke up to the fact that they dont NEED all the things that advertisers and interest groups con them into believing they need. It is the easily available credit that pushes up prices, most suppliers are owned by the moneylenders and so it is in their interest to have higher and higher prices. They double dip.

[*mrgrizz*]

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@poddster wrote:

Perhaps it is time that people woke up to the fact that they dont NEED all the things that advertisers and interest groups con them into believing they need. It is the easily available credit that pushes up prices, most suppliers are owned by the moneylenders and so it is in their interest to have higher and higher prices. They double dip.

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don't need lots of things.......but need roof over your head

how do you suggest everyone buys a home without a mortgage?

[poddster]

It depends on their needs and expectations.

In the past young couples, both working and childless could have enough to buy a modest home debt free and in time they would upgrade and that modest home would be available to another young couple.

Now with credit easily available young couples hock themselves for life and get locked in to living beyond their means.

[donnashuggy]

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@poddster wrote:

It depends on their needs and expectations.

In the past young couples, both working and childless could have enough to buy a modest home debt free and in time they would upgrade and that modest home would be available to another young couple.

Now with credit easily available young couples hock themselves for life and get locked in to living beyond their means.

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I doubt they will be debt free by the end of June 🙂  lol

Blame Labor poddy