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Capital, Dear Boy, Capital

Well, well, well.  How long have we been in a financial slump?  About a year?  And in all that time we haven’t heard a thing from the credit card companies, until now.  Yes, it’s only taken a ball-park figure of a trillion pounds worth of debt, on plastic, for someone to say, “Wait a minute, I think we should try and get some of that back, it looks like it’s getting a bit sticky out there.”

Thatcher ‘the milk snatcher’ started a depression back in the early 80’s, and I, and many others suffered thanks to her, and I detest her with a passion.  The Tories were against a closed shop and the unions, so she and a few friends of hers came up with a whizzo plan, changed the laws, and reduced the unions power to a minimum.  However, the closed shop that still remains today, and does have a licence to print money, is the banking fraternity, and it’s only a select few who actually know how it works.  So in effect a Tory closed shop is fine, but a naughty working class closed shop isn’t!  And in real terms the caring sharing Tory-lead banking system is being kept afloat by, wait for it, wait for it……… the very people who aren’t privy to ways of the financial world, but cough up the most.

Let me simplify a basic figure for you.  There’s a little gang of people, 0.001 percent, to be precise, and they’re in charge of a game and are the only ones who know the rules.   In the middle of that is you and me, and they’ve been fleecing us for years.  What they do is sit in a room and come up with schemes to separate you from your earnings. 

Here’s one for you, a hedge fund.  What the hell’s that all about?  And their best wheeze yet, the credit card.  The funny thing is, although you see the word ‘credit’ you’re always in debit from the moment you signed the forms and posted them off.  Capital One sent a letter to one of their customers informing him that his interest rate had been raised, to the bargain basement figure of 39%.   HAPPY CHRISTMAS!   How about they change the name of the card?  Let’s not call it a CREDIT card because it’s misleading, lets call it a, SKINT card or a CAN”T REALLY AFFORD IT card, and see how many new customers sign up. 

Ooh, one last thing.  A wealthy person can run up a debt of a million.  Do they have to pay it back?  Naaaaa, can’t have people like that worrying over fiddling small change, and the bank will right it off.  But, bloody but then, if a 9-5 work-pleb in a crap job defaults on his card by say, £700 they’re taken to court.   Maybe, just maybe, the banks should take a look at their Duty of Care policy and see if they can come up with a fair system, just a thought…

Right, I’m off to Millets to buy some exploding trousers  BB

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