tag:blogger.com,1999:blog-6086833995941525990.post7390119482003942161..comments2024-03-22T18:43:00.710-04:00Comments on Unam Sanctam Catholicam: Mortgage WoesBonifacehttp://www.blogger.com/profile/10672810254075072214noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-6086833995941525990.post-30842554722734098652014-04-13T21:29:38.705-04:002014-04-13T21:29:38.705-04:00I have the same problem. Not 60,000 of them, but ...I have the same problem. Not 60,000 of them, but about 700. It is apparent that the guy just will not pay. <br /><br />Many companies do this to small business men. As you might recall, in the 2008 crisis, companies were going under 'cause they could not get loans to make payroll! In my book, if you cannot make payroll out of operations, you are not a going concern. It is disgusting that companies force small businesses to involuntarily provide credit. <br /><br />Essentially, you have to mark up everyone to cover the loss.<br /><br />Did you know that Walmart does not pay for its inventory until each item is sold individually? That means that all of the stuff in a Walmart is loaned there, and so any damage or theft is the supplier's cost, not Walmart's. Even though these are things out of the supplier's control.<br /><br />The customer that I'm having trouble with is called a 'good businessman' by some. I guess nowadays, being a good business man includes fraud, contract violation, theft, and one of the four sins that cry out to heaven for vengeance.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6086833995941525990.post-44020858590428480972009-03-17T23:02:00.000-04:002009-03-17T23:02:00.000-04:00CO-Thanks for your balanced and informative commen...CO-<BR/><BR/>Thanks for your balanced and informative comment.<BR/><BR/>One clarification: when I said no one is to blame, I meant with regard to the state of my neighbor's mortgage, which is why I said, "My neighbor didn't get into an irresponsible mortgage, nor did the mortgage company try to cheat him."<BR/><BR/>I certainly didn't mean to imply that the businesses weren't responsible for not paying their bills to him (which, though connected with whether or not he pays his mortgage, is a separate issue from the terms upon which he got his mortgage).<BR/><BR/>Thanks for your input!Bonifacehttps://www.blogger.com/profile/10672810254075072214noreply@blogger.comtag:blogger.com,1999:blog-6086833995941525990.post-90957049617102281072009-03-17T22:45:00.000-04:002009-03-17T22:45:00.000-04:00Boniface,Your neighbor's story is unpleasant to he...Boniface,<BR/><BR/>Your neighbor's story is unpleasant to hear. I am sorry for his troubles. Your point is dead on: <I>The fact is, nothing is secure in this world.</I> I understand your point that God is in control, but I wish to emphasize that <B>active moral actions glorify God</B> as well. Find the problem, fix the problem, suffer the consequences, and move on!<BR/><BR/>In your neighbor's case, there seem to be two distinct problems: broken contracts and the lack of sound money. The first is easily visible, the second is not. Both are inconsistent with Catholic teachings and both create a nasty slippery-slope condition.<BR/><BR/>Contracts are based on free will; both parties willingly consent to an exchange of goods. Breaking the contract is theft. That Boniface's neighbor is apparently unable to enforce the contracts (or receive assets recovered after liquidation) reflects poorly on all citizens. Allowing broken contracts gives power to the violent and dishonest. Perhaps this is a moral hazard of broken contracts named "bailout", "stimulus", "loan-modification", and that ilk? <BR/><BR/>Sound money refers to a medium of exchange with stable value. Instead, we have a system where money is controlled and printed (inflation) at the whim of a cartel (legal-tender) endorsed by Congress. In short, "business cycles" (ie. booms and busts) result when the interest rate is set to a "target rate" rather than set through market demand. Why should Catholics support a cartel that destroys wealth and promotes debt while creating unsustainable growth?<BR/><BR/>I agree with Boniface that both liberals and conservatives blame their favorite scapegoats. Calls of "Predatory lending" are merely a silly distraction (see free-will and contracts above). Conservative calls of "irresponsible greed" never mention sound money. (eg. Bush said "Wall Street got drunk". Nobody asked: "Who provided the alcohol?") <BR/><BR/><I>...sometimes stuff just happens that is nobody's fault</I>, but this is not one of those times. Fundamentally, Boniface's neighbor lost his house in part because we (US citizens) chose poorly. The penance is bitter and will likely be refused for as long as possible.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6086833995941525990.post-47402602926089997462009-03-17T21:22:00.000-04:002009-03-17T21:22:00.000-04:00Anonymous-That's interesting...wouldn't work in my...Anonymous-<BR/><BR/>That's interesting...wouldn't work in my neighbor's case because he does work for big companies and management companies...the hotels or restaurants he is installing the plumbing for aren't run by the people who are paying for it, so it wouldn't really be fair for him to pull the stuff out of a hotel in Detroit when the person in charge of paying the bills is in some office in Memphis.Bonifacehttps://www.blogger.com/profile/10672810254075072214noreply@blogger.comtag:blogger.com,1999:blog-6086833995941525990.post-78376022848542109082009-03-17T16:56:00.000-04:002009-03-17T16:56:00.000-04:00I just heard about contractors who weren't paid fo...I just heard about contractors who weren't paid for their work going back into houses and taking everything they installed. ex. granite countertops etc.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6086833995941525990.post-12870584720428087932009-03-17T08:16:00.000-04:002009-03-17T08:16:00.000-04:00I believe that God gives extra crosses to those wh...I believe that God gives extra crosses to those whom He loves.<BR/><BR/>That is the way He treats His true friends.<BR/><BR/>It is no wonder He does not have many, because most of us work so hard to have material comforts dictate our lifestyle.<BR/><BR/>Your neighbor is in our prayersAnonymousnoreply@blogger.com