In my day job, or out of it, I’m a time served engineer, 4th generation at least, to my knowledge.
In simple terms what this means that unless you are also at the very least a qualified or experienced engineer, if you go up against me in an engineering scenario, you are going to lose.
You are going to lose in so many ways and on so many levels that you aren’t even going to be able to accurately gauge how badly and in what ways you are losing, hell, you may not even be aware that you are losing….
This is of course true for any skill-set you choose.
If you have spent your entire life working with numbers that represent “money” and “finance” and the name above the door on your business is Rothschild (amongst others) then it pretty much doesn’t matter who you go up against, even if they are an otherwise intelligent Harvard educated economist and accountant with many years of experience, you are going to win, and they are going to lose, they are going to lose so badly that they aren’t even going to be able to accurately gauge how badly and in what ways they are losing…
We have just had our faux elections here, meet the new boss, same as the old boss, and of course our new ministers for the economy are as outclassed as the old ones were when it comes to dealing with old money bankers.
I’m going to deviate from my usual form and talk specific personal shit now.
The new bitch, gotta admit, she is ticking all the boxes, but, of relevance to this post is a situation that actually happened here in real life a few weeks ago.
Essentially, I have no debt, no mortgage, no auto loans, no loans, no credit card debt, you get the pikcher…. she, on the other hand, despite earning 25% more than me, is drowning it debt.
She and her ex were up to the hilt on an insane interest only mortgage, multiple credit card debts up the wazoo, multiple bank loans, so the situation at the end of every month for her is once she has paid off all the repayments she has maybe 150 bucks left from her month’s salary. This is 150 bucks for everything by the way, food fuel, roof over her head the works, clearly it doesn’t compute, and the old “two can live as cheaply as one” comes into play, so in exchange for food and board and little else she works her ass off as domestic servant and sex slave… an arrangement we both find mutually pleasurable.. lol
So, in an entirely *sensible* bid to get this shit sorted, credit card debt is *expensive* so the thing to do is move it to a place where it is attracting lower interest, so the repayments go towards reducing the capital amount owed and not just making the interest.
So I sat here, almost lost for fucking words, bear in mind that purple text above showing the current state of her finances, she is basically up to the hilt and underwater, when she hits two websites, one for a large well known bank, and one for a large well known shopping chain, both of which are offering 0% interest on balance transfers for up to 36 months… and FUCKING LITERALLY 30 FUCKING MINUTES LATER she has been granted approval for one new credit card from each, adding a further 25 thousand bucks in credit availability.
Give the bitch her due, she shoved all her existing shit onto these cards which are now 75% full, at 0% interest for 36 months, cut up her old cards, and gave me these two new ones for safe keeping, and now her monies are going to balance reduction and not interest repayments.
But, it’s the “insanity” of lending someone who is already drowning in debt another 25k that I want to talk about, and notice I put “insanity” in quotation marks, lets go back to that YOU ARE GOING TO LOSE thing…
To the old money bankers, they aren’t going to lose, they have traded a bunch of 0’s and 1’s in computer files for an additional $25k / her hourly wage earning capacity, lets say for argument it’s $25 an hour, so 1,000 working hours, at 40 hours a week that is 1,000 / 40 = 25 weeks or 6 months of ADDITIONAL earning capacity, in addition to the 15 years or so she already owes them, this is assuming that she actually sticks to the theory and uses it solely as a balance transfer and debt repayment vehicle, not they way 99.9% of “customers” will see it, and weaken, and buy something new on the remaining capacity on the cards, which will turn it into a few extra years of earning capacity.
I want to put this into perspective.
Tuesday past, she got up at 5:30 am to get ready for the commute to work, which is now (as she is living with me) 90 minutes each way, she then does 10 hours at work, finishing at 6:30 pm, drives another 90 minutes home to me, she gets here at 8 pm, and then does the housework and cooks for me, by 11 pm she is in bed, but not asleep yet, as she spends 30 minutes blowing me and taking it up the ass, and then another 30 minutes scratching my nuts while I fall asleep smiling the smile of the innocent and satisfied.
I’m going to give the bitch her due, she laps it all up and loves it, and hates the fact that she is essentially sponging off me for food and board, but is grateful for the opportunity and my company and all that good stuff… but just look at the hours she is putting into all this, and it is all going to keep bankers fat in exchange for ski-ing holidays and other shit that is now no more than a dim and distant memory.
Yes, on the one hand, she does have the credit capacity to go out and buy me a harley, and I do not (neither one of us has the ready cash at the moment) but, IN EXCHANGE FOR WHAT?
In exchange for a few more years of her future earning capacity.
I, for my part, am NOT being offered (by the bankers) the “opportunity” to pledge a few years of my future earning capacity in exchange for a harley today.
From a purely personal perspective, I’m finding it hard to see how this is a bad deal for me, but, as I said before, it isn’t about my part, it’s about being on the losing side of a scenario where YOU are ALWAYS going to lose, because the OTHER GUY is the EXPERT and it is HIS LAWN.
Looked at this way, the other guy, the experts sitting on their own lawn, figure I’m good for a single credit card with a 750 buck limit, a limit that is NEVER going to be increased, because I don’t use that card every month, and when I do it’s usually the odd 100 buck purchase, and when I do, the balance is always cleared at the end of the month when I am paid my salary.
The experts who will ALWAYS win have decided that I am not a suitable person to play with, because they won’t win… and since there are so many suckers, large and small, out there, this doesn’t trouble them in the slightest, for every 1 of me there are 10,000 or more like the current bitch… and that’s where the winning plays (for them) are.
They aren’t going to lose ANY sleep over not getting a few years of my future earning capacity, when they have 10,000 other already owing decades of future earning capacity EACH, it’s like a cash millionaire missing out on getting one more buck from one more sucker, when there is a queue of thousands of suckers each trying to give them a twenty.
And really, who needs 10,000 suckers like my bitch, when you can get a government and an entire fucking country to play the same game, that’s where the *real* gig is at.. private banking is just icing on the fucking cake.
So our new chancellor, is the old chancellor, this guy.. http://en.wikipedia.org/wiki/George_Osborne and despite being privileged old money, the glaring omission is a lifetime as a time served banker, so he is going to lose, every time, and be unable to quantify how or in what ways he is losing to the bankers.
The only way to play and win, is to NOT play on their lawn, and that means not using their money, be it UK Pound Sterling, US$, Bitcoin, or anything else that they issue or denominate, in your daily dealings with another human being.
You CANNOT play on their lawn and win.
It’s a bit like the old adage about a government policy that says it will do A, but what it actually does is B, all your comprehension problems disappear as soon as you accept that A was never anything more substantial that marketing bullshit, and B was always that actual goal of the policy.