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Re: Americans want Obama to model himself after Re
That all sounds familiar.
My first "credit" was with an office supply store where the manager knew I shopped regularly, so he knew that I'd pay for what I got, since I already was. After nearly a year of that, I managed to wheedle a gas card, which I managed because I had an expense account for most of my gas, and also an account at a hardware store, where the manager was a friend of the manager of the office supply store, and on the strength of the letter from the office supply guy followed his example.
The two store accounts showed I could be counted on to pay for ordinary stuff, the gas card showed that I could be counted on to pay on an account where I could spend in numerous locations.
On an internship I got a loan for a car, on the foundation of those three accounts and due to my pastor passing on an invitation to a special sale, with his commendation written on it.
I used my checking account to pay the gas card and the car; the others I paid in person, so I could get personal recommendations. Once I'd gotten ahead on car payments so it was plain I'd pay that off ahead of schedule, I applied for, and after a phone interview got, a Sears card with a whopping $200 limit, then a Penny's card mostly because they didn't want me shopping solely at their competitor Sears. When I did pay off the car two or three months early, I finally got that VISA card.
Three years after that I got an unsolicited Mastercard invitation, offered to all graduates of the school I was at who had good credit records. I said, "Huh" and turned it down. But shortly after, I got a pre-approved VISA card, with no reference to my record or anything... at which point I called the Better Business folks to find out if the deal was legit.
Reagan at least had a good reason for his deficit spending: he was playing poker with the Soviets, forcing them to try to keep up with our military spending and research, tipping their clanking economy over the edge. Of course, the pokers such as Kennedy and Byrd tacked on everything they could dream up, making it worse, and the sense of frugality out of which Reagan expected the FedGov to return to sensible spending patterns was washed away as neocons got the wrong lesson out of it all.
That situation has off and on reminded me of what happened to poor Aristotle, a man who did his best to observe and investigate, but whose "Aristotelian" followers got the wrong idea and enshrined him as some sort of oracle (which in time led to the Galileo fiasco!). It just shows that people don't always take the lesson you mean, but the one they want.
	
		
			
		
		
	
				
			Henry, I don't know if you remember the early 80s, but I do--it was difficult to get credit. Building credit, unless the borrower had a co-signer on a loan, took two or three years of hard work. One had to have no bounced checks for a year, which begat a Check Guarantee Card; no bounced checks for another year resulted in a puny $200 department store card; a year of borrowing and paying off this credit card finally resulted in that hard-earned VISA.
That all sounds familiar.
My first "credit" was with an office supply store where the manager knew I shopped regularly, so he knew that I'd pay for what I got, since I already was. After nearly a year of that, I managed to wheedle a gas card, which I managed because I had an expense account for most of my gas, and also an account at a hardware store, where the manager was a friend of the manager of the office supply store, and on the strength of the letter from the office supply guy followed his example.
The two store accounts showed I could be counted on to pay for ordinary stuff, the gas card showed that I could be counted on to pay on an account where I could spend in numerous locations.
On an internship I got a loan for a car, on the foundation of those three accounts and due to my pastor passing on an invitation to a special sale, with his commendation written on it.
I used my checking account to pay the gas card and the car; the others I paid in person, so I could get personal recommendations. Once I'd gotten ahead on car payments so it was plain I'd pay that off ahead of schedule, I applied for, and after a phone interview got, a Sears card with a whopping $200 limit, then a Penny's card mostly because they didn't want me shopping solely at their competitor Sears. When I did pay off the car two or three months early, I finally got that VISA card.
A few short years later, they were sending unsolicited credit cards in the mail—an action reflecting mindset that gradually fueled the deregulation of the mortgage markets, which we all know caused this whole mess.
Three years after that I got an unsolicited Mastercard invitation, offered to all graduates of the school I was at who had good credit records. I said, "Huh" and turned it down. But shortly after, I got a pre-approved VISA card, with no reference to my record or anything... at which point I called the Better Business folks to find out if the deal was legit.
Apropos deficit spending, I want you to keep in mind that I respect the old-guard Republican thinking that "if we don't have it, we don't spend it". Neocon-ism brought about the "borrow and spend" mentality, even in peacetime and good economic times, which has resulted in the many trillion$$ debt we have today. (I think it imprudent to rack up deficits during times of economic bliss.)
With all of this in mind, I cannot say that I respect Ronald Reagan, a neoconservative.
Reagan at least had a good reason for his deficit spending: he was playing poker with the Soviets, forcing them to try to keep up with our military spending and research, tipping their clanking economy over the edge. Of course, the pokers such as Kennedy and Byrd tacked on everything they could dream up, making it worse, and the sense of frugality out of which Reagan expected the FedGov to return to sensible spending patterns was washed away as neocons got the wrong lesson out of it all.
That situation has off and on reminded me of what happened to poor Aristotle, a man who did his best to observe and investigate, but whose "Aristotelian" followers got the wrong idea and enshrined him as some sort of oracle (which in time led to the Galileo fiasco!). It just shows that people don't always take the lesson you mean, but the one they want.


 
						 
 
		 
 
		








 
	






