February 11, 2009

If lending is really frozen ...

... how come my teenage son keeps getting a couple of offers of preapproved new credit cards each week?

My published articles are archived at iSteve.com -- Steve Sailer

By Steve Sailer on 2/11/2009

19 comments:

Anonymous said...

Oh, shut up and just go ahead and pay your share of the $10 trillion or whatever we own to our Oligarchs!

2/11/09, 9:37 PM
Anonymous said...

lol @ RKUs comment.

2/11/09, 9:42 PM
Anonymous said...

They're testing us. If they can rob the taxpayers of $3 trillion while jobs are disappearing and yet immigration is still kept insanely high then they know they can throw democracy out the window. Just keep American Idol on and we'll all be happy.

2/11/09, 11:02 PM
Anonymous said...

Maybe the bank knows more about your future career than you do. And considering you are going to pay the bills your son racks up, that makes sense. Marketing guys are usually more clued up than the rest of us.

2/12/09, 12:50 AM
Unknown said...

I, too, continually find credit offers in my spam. Lending loosely goes on and on, apparently!

2/12/09, 2:00 AM
Anonymous said...

See, keep Wall Street bonuses high enough, and things keep working.

2/12/09, 3:44 AM
Richard said...

I've been wondering about that myself. Of course, a couple of years ago, the amount of 0% offers could be measured in pounds per week and now it's measurable in ounces.

2/12/09, 4:36 AM
Anonymous said...

I still get credit card offers and offers to refi my mortgage (with cash out! interest only!). Dude, that's soooooo 2005...

2/12/09, 5:43 AM
Anonymous said...

Casey Mulligan points out:

More Proof that Banks Did Not Need the Bailout

2/12/09, 6:35 AM
Anonymous said...

the bank knows more about your future career than you[...]Marketing guys are usually more clued up

I was going to get angry, then realized that comment was intended as humor.

Just keep American Idol on and we'll all be happy.

Recall the scene in Bradbury's Fahrenheit 451 when the fireman's wife watches her wall-screen TVs while the bombs drop on her? (Worth digging out and re-reading. A little masterpiece of writing. It's near the back of the book.)

2/12/09, 7:46 AM
Anonymous said...

Maybe the bank knows more about your future career than you do.

The bank knows that in 2011 Steve will get arrested and sentenced to life in prison for thought crimes against humanity.

2/12/09, 7:57 AM
Fred said...

Economic history Robert Higgs has written article after article disputing the "credit is frozen" trope.

Go to the Independent Institute for links.

2/12/09, 8:50 AM
Anonymous said...

"If lending is really frozen ..."

Steve -- Maybe lending is not really frozen. Take a look at the graphs at --
http://research.stlouisfed.org/fred2/categories/100

2/12/09, 9:07 AM
albertosaurus said...

Maybe for the same reason I keep getting those penis enlargement emails.

2/12/09, 10:58 AM
Anonymous said...

"The bank knows that in 2011 Steve will get arrested and sentenced to life in prison for thought crimes against humanity."

Or make the big time because a critical mass is pissed of with PC.

2/12/09, 11:27 AM
Anonymous said...

Perhaps the minority mortgage meltdown will become an urban myth much like the old cunnard about the CIA peddling crack to blacks.

2/12/09, 12:37 PM
Anonymous said...

It would be interesting to see which financial instittutions were sending Sailer Jr. (and others) credit card apps and whether they are receiving TARP money.

Well?

2/12/09, 7:37 PM
Anonymous said...

"The bank knows that in 2011 Steve will get arrested and sentenced to life in prison for thought crimes against humanity."

He's already under the arrest, he just doesn't know it yet.

Sailer Jr. should accept all offers and use cards to purchase at least 5000 copies of Seniors' books.
Then ask the gubmint to bail out his troubled assets.

2/13/09, 3:36 AM
Anonymous said...

This really burns me. I have had a steady job at the same location for the last eight years, and have had a credit card with the same company for five, but I can't get an increase in my credit limit above $500. I'll admit I don't use the card much, but if I were to need it I would like to have it available.

But some unemployed kid or a unemployed college student can get all the credit that can rain down from heaven.

Screw the banking system.

2/14/09, 9:58 AM

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