Will the bankruptcy bill kill Christmas?

[RC]

Subject: Will the bankruptcy bill kill Christmas?

Now that the credit card companies have their bankruptcy bill it makes me wonder if they are going to be happy with what they got. This bill might result in people changing their behavior and becoming more responsible. And what do I mean by more responsible? I mean - people
spending less money. No more impulse buying. After all - if you are going to protect yourself against bankruptcy, it means that you are going to be a lot more careful in your spending.
The bottom line is - it's going to hit the economy hard,. The law goes into effect in October and that's when people will really stop spending money,. We'll see if they are happy at Christmas.
Looks to me like Christmas has been cancelled.

Marc Perkel
San Francisco, CA.

http://www.bartcop.com/

Maybe we will have to start making our own Christmas gifts like they did 100+ years ago.

[cornermouse]

1. Peasants don't need Christmas.

[jedr]

2. Christmas under attack again....damn you liberials...n/t

[MidwestTransplant]

3. I don't think that it's going to ruin Christmas because people

will be more careful due to the difficulty of filing for bankruptcy. The vast vast majority of people don't game the system like that. Bankruptcy is a last resort for nearly everybody.

[Mr.Green93]

4. If you make under 40k

no problem. Max out and walk away.

[Egalitariat]

5. This guy's thinking gives us a bad name

Most people who read his words will associate them with liberal thinking.

My favorite quote is: "if you are going to protect yourself against bankruptcy, it means that you are going to be a lot more careful in your spending."

Wow! Is this a new concept to him? I'm scared that it is. And that's sad.

[Jacobin]

6. everyone thinks they will be fine and can pay their bills until

a crisis hits....divorce, medical expenses, job layoff...

Until then, most Murkins spend to the max of their credit ability.

Once they hit that pothole in the financial world, it will be too late, with the new law.

[ladjf]

7. Among other things it might kill the housing real estate business.

People will be more reluctant to buy a home when the realize that all could be lost in one bad round of medical expenses.

[Ellen Forradalom]

8. And not a moment too soon

that's what I think of Christmas.

[Missy Vixen]

9. It already has

>No more impulse buying.<

Those who engage in the above activity will pay, and pay dearly, for their folly, and it won't necessarily be medical expenses that bring them down. It'll be job loss, unexpected personal expenses (a move to find another job, fixing up the house in order to put it on the market and it sitting there for awhile, etcetera.)

When some of your middle-class Republican neighbors find themselves on the business end of this law, the screaming will be loud and long.

The holiday season was not very, very good to retailers last year. I don't anticipate it being a real party this year, either, because people will be paying quite a bit more for gas by the holidays. That will increase the price of everything, thereby wiping out a lot of discretionary spending. I saw a lot of people LAST year that were making their gifts, and virtually stopped shopping the two weeks before Christmas as a result.

Julie

[New Dealer]

10. I doubt most people in America know or care about the bill

C'mon, do you really expect the average American to know anything?