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MasterCard profit jumps 33 percent

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posted on Aug, 3 2011 @ 09:11 AM
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MasterCard profit jumps 33 percent


www.newsdaily.com

Consumers increasingly rely on debit and credit cards for everyday purchases, rather than cash or other payment types. Processing companies like MasterCard and rival Visa Inc benefit from this shift in consumer behavior.
(visit the link for the full news article)


Related News Links:
www.newsdaily.com
articles.boston.com




posted on Aug, 3 2011 @ 09:11 AM
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Okay, now, if you go to the Top News page on the site, you'll see the very next headline:


World's private sector falters as debt crisis bites


We here in the US have just witnessed our elected leaders behaving like a den of thieves, using our nation's clout to manipulate numbers in a database that essentially are imaginary.

Yet, most citizens apparently aren't bothered enough about it (the debt crisis and its still-to-be-discovered-by-those-of-us-who-aren't-being-told-the-truth fallout...) to STOP using CREDIT CARDS!

If we look at this nation as a system, like an enormous family household, and imagine ourselves (the peons) as the kids watching our parents' (TPTB) dysfunctional behavior as a moral compass and example of how to manage things, we have to wonder:
"What ARE you doing?"

(The answer, of course, is "hoarding wealth that we are not going to tell you about because you don't need to know".)

What poor leadership. What an abyssmal case in point of irresponsibility and naked greed.

And, if we go back to all the scandals over the last several years, we see only a handful of folks doing time for their infractions.

BoA is going to bulldoze homes that they foreclosed on.

Hit with foreclosures, Bank of America donating, demolishing homes



The biggest US mortgage servicer will donate 100 foreclosed houses in the Cleveland area, and in some cases contribute to their demolition in partnership with a local agency that manages blighted property. The bank has similar plans in Detroit and Chicago, with more cities to come, and Wells Fargo & Co., Citigroup Inc., JPMorgan Chase & Co. and Fannie Mae are conducting or considering their own programs.


I am outraged by this.
How many millions of people have been forcibly removed from their dwellings by these monsters? And now they're going to demolish those homes?

NOW HEAR THIS!!! How about, you let those people BACK into their homes, and have them FIX THEM UP, or WORK for the debt to be paid off?

Sure, it's indentured servitude, but it's vastly preferable to homelessness and destruction, isn't it?

I just don't get it.

People!: Stop using plastic. You're playing into their game.

Bankers!: Consider whether your soul really truly wants to destroy the lives and homes of others AND suffer the consequences (in whatever manner you choose to consider the cosmic justice system)...

Wall Street!: You are a nest of vipers,do you not see?

What in the sam hill has happened here?? We are back to the dark ages in terms of humanitarian society. This is not a civilization! This is a travesty of social vampirism!!

Perhaps this belongs more in rants, but I'ma post it here and just see if anyone else cares. Meanwhile I'll be reading the articles again and trying to connect the dots with my fat red crayon.

www.newsdaily.com
(visit the link for the full news article)



posted on Aug, 3 2011 @ 09:17 AM
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See, Mastercard is also apparently HIRING or giving RAISES to personnel for "acquisition" activity?


Total operating expenses increased 20 percent to $782 million. MasterCard said the rise was due to higher personnel costs related to acquisitions.


And it says that much of the profit came from foreign transactions. Huh...what Global Meltdown? It's working purrrfectly......[rubbing hands together].....Bwahahahahahhhhaaaaaaaa!!!!
NWO? What DO you mean?

Oh! Here's a reason to demolish or donate!....

Donating a house may create an income tax deduction, said Robert Willens, an independent accounting analyst in New York. A bank might deduct as much as the fair market value if a home was not acquired with the intent of knocking it down, he said.

Well then, by all means.....carry on!! How many did you say you have?

Simon declined to say how many foreclosed properties Bank of America holds.


ETA: more info and a big sad "sigh"
Oh, but wait, there's more!!

Disposing of repossessed homes is one of the biggest headaches for lenders in the United States, where 1,679,125 houses, or one in every 77, were in some stage of foreclosure as of June, according to research firm RealtyTrac Inc. The prospect of those properties flooding the market has depressed prices and driven off buyers concerned that housing values will keep dropping.

And, this is fixing the economy HOW?

edit on 3-8-2011 by wildtimes because: (no reason given)

edit on 3-8-2011 by wildtimes because: (no reason given)



posted on Aug, 3 2011 @ 09:29 AM
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I don't use plastic whether it be a debit card or a credit card...I won't even do airmiles.
My hands are clean on this one.

I bet not alot of people can say that which is why they are making profits.
Be the change you want to see.



posted on Aug, 3 2011 @ 09:34 AM
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The backbone of the establishment's prosperity (meaning those who call themselves "leaders" and "appointees") is for the people to accept that debt = wealth.

They want us measured by our ability to consume our way into debt "bondage", for lack of a better word.

Then they collect our cumulative debt and gamble on the prospect of whether it will be repaid and when.

All the while the same bankers who are the sources of the debt benefit from the sponsorship and manipulation of the monetary policy their 'leaders' (the central banks) implement.... while our politician's slyly profit from the affair.

I would call it fascism, except, many people who managed (by virtue of their social contacts) to prosper, would be offended. After all, anyone who isn't one of them is a profane upstart who is just suffering from 'sour grapes.'
edit on 3-8-2011 by Maxmars because: (no reason given)



posted on Aug, 3 2011 @ 09:40 AM
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Originally posted by wildtimes

MasterCard profit jumps 33 percent


www.newsdaily.com

Consumers increasingly rely on debit and credit cards for everyday purchases, rather than cash or other payment types. Processing companies like MasterCard and rival Visa Inc benefit from this shift in consumer behavior.
(visit the link for the full news article)


Related News Links:
www.newsdaily.com
articles.boston.com


Hopefully this starts a trend and creditors ease up on private institutions so they can start to hire more. Less uncertainty == better for owners/investors.



posted on Aug, 3 2011 @ 10:06 AM
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Not many people really know how they truly make money. Sure, they make money when you make payments int he form of interest. However, they make much more money processing the cards then they do from your measly interest rates. When I had my business, I had to pay 1.85% of each transaction to Visa (and I had one of the lowest rates available!). Discover Card was at about 2.35% and American Express was a whopping 4%! So, let's say all of my transactions a day were Visa...1.85%. Let's also say, for ease of math, that I did $1,000 a day in Visa transactions. That means that I would have to pay Visa $18.50 per day for the PRIVILEGE of accepting their card. And no, it did not matter if it was credit or debit, I paid the same amount.

So now that we have established that I paid $18.50 per day in fees, let's see how much I paid in a year.
$18.50 x 365 = $6,752.50. Now if I had better days than that I paid even more. Now just imagine what stores like Home Depot or Lowes or Walmart have to pay! It's no wonder they had a 33% increase in profits! It doesn't matter if you don't have a credit card. If you use a debit card, the business still has to pay the fee. now you really see why the cost of goods keeps going up. Add this to the cost of fuel and BAM! Expensive products and services. So the next time you go to buy local, just remember to take CASH! Help your local business survive!



posted on Aug, 3 2011 @ 10:07 AM
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reply to post by haarvik
 


Heh, hi dude. Glad you saw this. I was replying to your thread while you were replying to this one....
thought about linking the two...



posted on Aug, 3 2011 @ 10:08 AM
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reply to post by John_Rodger_Cornman
 


Not sure I get your logic. The banks ARE private-sector entities. How would they "ease up"?



posted on Aug, 3 2011 @ 10:09 AM
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reply to post by wildtimes
 


Lol! Yup, you were. here, let me do the honors:

The Problem is Too Much Debt



posted on Aug, 3 2011 @ 10:11 AM
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reply to post by haarvik
 


Cool. Thought it should be your call...
so, what a mess, eh?



posted on Aug, 3 2011 @ 10:24 AM
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reply to post by wildtimes
 


Yes, it truly is. I'm afraid the only thing that will change any of this is for another depression. People need to lose just about everything before anyone will stand up, band together and make things right. We are so caught up in the blame game, that we fail to see the bigger picture. Dems and repubs have created a us vs. them society which ensures they retain power. The us vs. them should be every American vs. the government. I have done my part to try and make change as best I can on my own. Not using credit/debit cards, buying locally, buying American made, etc. But unless vast numbers of us do it, it will not change.



posted on Aug, 3 2011 @ 10:29 AM
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Reply to post by wildtimes
 


Hey....I'm just doing what the government says will work....that is spending my way out of debt. So what's the problem?

I can't wait for the armed revolution that is coming.....


 
Posted Via ATS Mobile: m.abovetopsecret.com
 



posted on Aug, 3 2011 @ 10:41 AM
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reply to post by haarvik
 


I do it, too....and I wonder how many people do? Not enough, clearly. And any campaign to encourage people to stop playing the debt game would probably be first turned away at the door of the MSM, and secondly the founders would most likely disappear or turn up corpses.



posted on Aug, 3 2011 @ 10:48 AM
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reply to post by wildtimes
 


Most likely. But just like weight loss, you can tell people until you are blue in the face what to do, but they will never do it, even when it is placed in front of them in black and white. Until they are confronted with their worst fears, they do not change. It is only in the face of adversity they they will finally wake up and make the changes needed. Unfortunately for most of them, it will be too late. Just like the 600lbs man who goes into the hospital because his body can no longer support his weight. Just when he starts to get the weight off, his body gives out because he has abused it for so long. It will be the same with finances. People have abused credit for so long, that by the time they realize there is a problem, their money will die and they will be left with nothing.



posted on Aug, 3 2011 @ 11:22 AM
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The problem with telling people to just stop using their cards is this:
Society has been conditioned to consume. We are constantly hit over the head with ads and marketing, being told that we are less of a person or are irrelevant unless we buy "x" product. Moreover, society has been encouraged to enjoy instant gratification by buying now and paying later. Even if people are opening their eyes and realize this has all been an illusion and it's best to go back to paying cash and only spending if you already have the money.... the climate is so dire, that many people cannot do this. So you have a society who is now relying on credit cards to pay medical bills, car repairs, rent, even... all sorts of things that are part of modern life. And they are doing this either because they have lost their job or otherwise have had reduced income, or something unexpected happens where they have no choice but to turn to their credit. That's why this situation is so incredibly messed up. People are in too deep to just stop and change the way things are done, and that's why the government needs to step in and facilitate a change for the betterment of the public.... which is not happening, and the public keeps getting smacked in the face.

Regarding accepting credit cards as a business... with the advent of check cards with the MasterCard or Visa logo, you have many more people relying on them instead of paper checks or cash. I am not certain, but I assume businesses still have to pay a fee for this even if the cash is immediately debited from an account? Where it might have made sense in the past for these companies to charge a percentage, it no longer does. Too many people are reliant on this method of payment for it to be monopolized by only a couple of profiting corporations.



posted on Aug, 3 2011 @ 11:27 AM
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reply to post by HolographicPrincipal
 


yes, a business still has to pay the fee for a check card. If it has the Visa/MC logo, you pay a fee. For people who are against the wealthy/banks/etc. or have fallen on hard times, there is a way out. Simply file bankruptcy. Yes it does affect you for a while, but you will be able to regain your life in short order. I know people who did this, but only after they lost everything. You need to recognize that you are in a losing situation and take action before it is too late. In the process, you get to push back at the predators who allowed you to get into this position. The only thing you cannot get rid of are taxes and a mortgage. Gee, I wonder who came up with the latter rule?



posted on Aug, 3 2011 @ 11:33 AM
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Originally posted by haarvik
reply to post by HolographicPrincipal
 


yes, a business still has to pay the fee for a check card. If it has the Visa/MC logo, you pay a fee. For people who are against the wealthy/banks/etc. or have fallen on hard times, there is a way out. Simply file bankruptcy. Yes it does affect you for a while, but you will be able to regain your life in short order. I know people who did this, but only after they lost everything. You need to recognize that you are in a losing situation and take action before it is too late. In the process, you get to push back at the predators who allowed you to get into this position. The only thing you cannot get rid of are taxes and a mortgage. Gee, I wonder who came up with the latter rule?

Thanks for clarifying that... So say someone has fallen on hard times. As an example, they are hospitalized for whatever reason and rack up 100s and 1000s of dollars in bills. At what point would that person file for bankruptcy, and would that person still continue to get treatment if needed? And how long would that process be from the time you file to the time that it is resolved?

(As an aside, I do not have a credit card, but I do have a Nordstrom card. I believe they partnered with MC or VIsa, but I'm not sure... regardless, I have kept my original department store card for years. I pay the entire balance and have never been late. However, the apr is 22%! My recent bill alerted me that if I was late, the apr would rise to 20freaking7%! And I'd be charged a $35 fee. I wonder how Visa/MC parterning with department stores also influences their numbers?)
edit on 8/3/2011 by HolographicPrincipal because: add my "aside"


Edit to add: As you can see, I'm not exactly Miss Economist when it comes to knowledge of these things. Your input is helpful!

edit on 8/3/2011 by HolographicPrincipal because: personal disclaimer



posted on Aug, 3 2011 @ 11:42 AM
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reply to post by HolographicPrincipal
 


First off would be to consult a bankruptcy attorney as they can help decide if it is the right move. Secondly, even medical bills are wiped, no a public hospital cannot refuse treatment for any reason. Depending on the type of bankruptcy, you will generally wait about 3 months before your hearing. The bankruptcy judge will assign a "discharge" date, at which time you emerge form bankruptcy and can start rebuilding your credit. During your bankruptcy you cannot use any credit cards, and any income is considered. If you search google for chapter 7 and chapter 13 you will see the two forms available to individuals.

Generally speaking, when you file bankruptcy you must list all assets/liabilities. It is this balance sheet that determines if any assets have to be surrendered. In most cases, you can keep your car and your house, but you must still make the payments. During your hearing, any claims against your estate must be made at that time. It is rare for a creditor to show up though, unless you have a lot of expensive items that will fetch a large amount of money in an auction.

It is also a known fact that most bankruptcies are filed due to law suits and medical bills.



posted on Aug, 3 2011 @ 06:48 PM
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reply to post by wildtimes
 


Why do you think people who borrowed money, yes "borrowed" meaning they don't own the houses until they pay back the loan, should get a house for free? Please be detailed so I understand why they should get a free house while everyone else who is honoring their obligations and paying back the money they "borrowed" have to pay for theirs?

You do understand that the banks own these homes. The people being evicted do not own them.

What did these people do that they should get free houses or live in them for free and why is what the owner does with them any of their concern.




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