Monday, July 6, 2009
ASSOCIATED PRESS IDENTIFIES CREDIT CARD COMPANIES as the DESTROYERS of the ECONOMY with their ME FIRST ATTITUDE.
This is what I have been saying all along, CREDIT CARD COMPANIES ARE DESTROYING THE ECONOMY WITH THEIR ME FIRST ATTITUDE.
In my opinion, this AP article PROVES that PUNITIVE BASED, CREDIT CARD DEBT PAYDOWN Programs are AN ECONOMICALLY DESTRUCTIVE METHOD WHEN COMPARED TO INCENTIVE BASED CREDIT CARD DEBT PAYDOWN PROGRAMS.
Local and state governments are having their tax revenue pinched by overly aggressive Credit Card Company tactics that bankrupt people by garnishing their wages. These indentured citizen slaves may then go on federal and state funded welfare programs. Less people paying into the system, more people attaching themselves to the system then leads to these local and state governments trying to raise taxes on the ever shrinking small business owner base! ALL BECAUSE THE CREDIT CARD COMPANIES HAVE TAKEN A ME FIRST ATTITUDE in the present economic crisis that they helped create in the first place.
The AP article discovered that states that allow a credit card compay to garnish a debtors wage have MUCH MUCH HIGHER PERSONAL BANKRUPTCY RATES than states that protect the consumer, and this is a very important piece of information to analyze.
If Chase Bank gets away with raising the monthly minimum payment by 150% starting in August of 2009 on over a million of their most trustworthy and on time paying customers, we will see an even greater downturn in economies all over the country as people pay the Chase Bank Beast and have no money left for other local expenditures in their own community.
Even if these over one million people protest and don't pay their Chase BAnk bill, their credit score will be harmed and they will just pay more in interest rates. Either way, the state gets NOTHING but headaches, while the credit card companies rake in money no matter what happens.
These over one million Chase bank customers may simply give up and file for whatever federal and state benefits they can get, putting further strain on local and state governments as they experience an ever shrinking tax base.
This specific AP article supports the very core messages that I have been writing about for the past few months here and at Daily-Protest.com.
However, the method the AP used to reach the same conclusion as I did is forensically superior to my method since they have actually provided statistical data to back up my point. I just knew what I knew, the AP has actually delivered the undeniable data.
HOW YOU CAN HELP! MAKE A DAILY-PROTEST.com sign and put it where others will see it. Daily-Protest.com signs can be placed in a storefront window, a bulletin board at work, or a countertop. Raise curiosity and awareness about how Chase Bank is harming a LOT of of their BEST customers by making a Daily-Protest.com sign.