Quote:
Originally Posted by KidVermicious
Banks and insurance companies are powerful because we've made them that way. If we'd stop asking for credit and insurance when we don't need it, the problem of being taken advantage of by huge heartless corporations would get a lot smaller really really fast.
Insurance is a scam, and big-money lending is a scam. They're based on unscrupulous hacks using your money to make money. Neither is a good idea for the private consumer except in extreme circumstances, and their widespread use has completely distorted our entire economy to the point that we think we need them just to survive. It ain't true.
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QFmofuckinT. There are only three good reasons to borrow. To get a better interest rate on existing debt, to buy something that is going to make money, or to buy the home you live in. For some a possible fourth reason might be to buy a car, but in reality most folks buy way more car than they should. Anything beyond that is a path to the poor house.
House insurance is a good idea for most folks. The rest of it is mostly a scam. The insurance companies have sold us the fairy tale that there is such a thing as a safe life, and then sold us the lie that they offer any such thing. Their goal is to take your money and give you nothing in return.