Posted November 02, 2011 in Blog, Philosophy 101, Uncategorized
Occupy Wall Street, protesting the greed of our nation has much food for fodder. So much so that one of the most popular Halloween costumes this year was folks casually dressed with “Occupy Bel Air” (or you fill in the place) signs. The $10 million dollar Kardashian wedding farce that lasted 72 days, please. “Beverly Hills HouseWives”, please. Professional athletes getting $30 million a year for playing a game. It’s not Tsarist Russia of 1910’s, but there are some valid points to the protest. (For a great read about Tsarist Russia and WWI, get Ken Follett’s “Fall of Giants“).
In this week’s Los Angeles Times, an article, “Investors Place Big Bet on Buy Here Pay Here Used Car-Dealers“, used cars are sold to desperate buyers. A 22% interest is tagged against the loan, costing the buyer up to four times the cost of the car over the term of the loan. Our Wall Street friends see it as such a wonderful way to make easy money (see Wall Street’s last easy money morgage scheme) that they are buying up these used car lots to get their piece of the 22% interest. For those of you Occupying Wall Street (in LA when not in yoga classes) please add this to your “to do list”. Let those you know that they shouldn’t fall prey to these schemes.
Be well.
To read the LA Times article go to http://www.latimes.com/news/la-fi-buyhere-payhere-20111101-m,0,5962557.story
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