Do we really need credit?

[MikeJ]

Obviously the whole credit system is set up to put people in debt on purpose. My grandparents didn't use credit and they saved for everything they bought-cars, house, etc. so why do we really need it today?

If the economy was going to collapse, I think we should all max out our credit cards and buy gold and silver. Then, not pay the bill. Who cares if your credit rating would suck, you would have real money.

[chroNick]

Maybe for the average person, but Warren Buffet says that credit is more valueable than money.. If you wanna become an investor, or do something big, you don't wanna file for bankrupcy.

[ascentient]

MikeJ - I've already done just that. Maxed out my CC's (with 0% APR) to stock up on silver and gold. When they convert to interest bearing cards, I'll change them for something with a rate lower than the rate of monetary inflation and do the same again.

If the end game of hyper-inflation ever looks like it will kick in, I'll also start buying houses with owner-financing for inflated prices. Once you're on title hyperinflation will give you a free house (or houses). ;)

[chroNick]

MikeJ - I've already done just that. Maxed out my CC's (with 0% APR) to stock up on silver and gold. When they convert to interest bearing cards, I'll change them for something with a rate lower than the rate of monetary inflation and do the same again.

If the end game of hyper-inflation ever looks like it will kick in, I'll also start buying houses with owner-financing for inflated prices. Once you're on title hyperinflation will give you a free house (or houses). ;)

Haha, yea I did that hoping for the same back in April. Now my interest free period has expired, and silver prices have lost 35% of it's value.:mad:

[Golden]

It's stupid to have credit, even more so if you use it for buying PMs. Silver is a LONG term investment.

[ascentient]

Credit isn't stupid. Poor use of credit is stupid.

As much as we don't like the game that is being played, the rules are set out for us and we are playing in a world where the big players have most of the wealth and much greater leverage than us. In order to sustain any chance of coming out ahead we need to look at the risk/return and leverage our opportunities.

You are right to say that silver is a LONG term investment (as is gold), but within a long timeframe there are certain times where leverage is appropriate. I believe the coming years will be one of those time.

There is good debt and there is bad debt (to paraphrase Robert Kiyosaki). Knowing the difference is crucial to using it. If you don't know the difference, don't use it.

[sunsetcliff]

usuary is stupid.

much of this = the lag time for cash in hand. be it a check, cc, etc.

...I thought if I bought 2500 of silver- that it will rise to 25000. which will pay my house off.

[main1event]

usuary is stupid.

much of this = the lag time for cash in hand. be it a check, cc, etc.

...I thought if I bought 2500 of silver- that it will rise to 25000. which will pay my house off.

thats entirely possible but it may take 10 years for Silver to go to 100.00.

BTW, I want your mortgage, holy cow.

[ascentient]

Usury isn't stupid. Holders of capital have the right to lend their capital at interest. If both parties mutually agree to the rate of interest without the threat of physical force then it must (by definition) be a mutually beneficial transaction.

Read up on Murray Rothbard's writings on usury.

[JustChris]

With the Federal Reserve system you can NEVER pay off all of the debt because without it there would be no currency in circulation.

People are just looking at the symptoms of the cancer and not removing the tumor.

[JustChris]

Usury isn't stupid. Holders of capital have the right to lend their capital at interest. If both parties mutually agree to the rate of interest without the threat of physical force then it must (by definition) be a mutually beneficial transaction.

Read up on Murray Rothbard's writings on usury.

Ethically I think usury is VERY wrong, one of the things I agree with Aristotle on the most.

If you are gaining a profit purely because you have, or can create money, then there is something very wrong there.

Also, the way the banks lend, is without having any capital, and when you sign that contract the money is essentially created out of thin air.

If you don't understand this let me know.

[Chiswick40]

If the end game of hyper-inflation ever looks like it will kick in, I'll also start buying houses with owner-financing for inflated prices. Once you're on title hyperinflation will give you a free house (or houses). ;)

This sounds too easy. Surely banks or the Govt will work out a way to prevent loans being paid back that easy. Is that what you are talking about?

[ascentient]

JustChris - the usury argument is addressed pretty well by the Austrian economists. Whilst I have neither the time nor the in depth knowledge to argue to change your mind (I wouldn't do nearly as well as others) I would suggest going to www.mises.org and reading around if you are interested in challenging your viewpoint.

With respect to the banks creating money out of nothing, we're in agreement there. Which is why I use their fictitious money to buy myself real money (PM's).

[ascentient]

Chiswick40 - Sure the government will try to think of something, although during hyper-inflation they'll be about 5 steps behind the problem at all times. Effectively any time they make a law there are another two problems created and about two ways to bypass their new impediment. :)

[Ardent Listener]

With the Federal Reserve system you can NEVER pay off all of the debt because without it there would be no currency in circulation.

People are just looking at the symptoms of the cancer and not removing the tumor.


BINGO! Someone give JustChris a cigar.

[research24]

Unfortunately, it won't end until it, the Fed, destroys the nation entirely. As Franklin well understood, the system he helped create was ultimately self-destructive. But so are all human endeavors. Mankind corrupts everything it touches. So what's new?

[Ardent Listener]

Unfortunately, it won't end until it, the Fed, destroys the nation entirely. As Franklin well understood, the system he helped create was ultimately self-destructive. But so are all human endeavors. Mankind corrupts everything it touches. So what's new?

I think you are right. The founding fathers knew they couldn't control this nation from the grave, but they tried to give it a good start. I believe they expected the people to fight for their liberty and freedom again over and over just like they did. Jefferson corresponded with Adams right up to his death. A lot of what they wrote about to each other had to do with the question of if the country would make or not after them.

[JustChris]

JustChris - the usury argument is addressed pretty well by the Austrian economists. Whilst I have neither the time nor the in depth knowledge to argue to change your mind (I wouldn't do nearly as well as others) I would suggest going to www.mises.org and reading around if you are interested in challenging your viewpoint.

With respect to the banks creating money out of nothing, we're in agreement there. Which is why I use their fictitious money to buy myself real money (PM's).

I know with Austrian economists they can go both ways with the usury, and I lean towards the no interest lending via the Treasury with banks having 100% reserve, and having private entities profit through the risk of the loan, but only with 100% cash reserves on hand.

No more of this 10% fractional reserve bull shit.

The sad thing is, currently with the system we have right now, we are completely dependent on debt to the Federal Reserve, to where things would actually become far worse if everyone started paying their debts off, but would eventually force the market to correct itself and rid the economy of these bankers.
Hence why their pumping tons of money into the economy, because inflation is the only thing that can sustain them.

[JustChris]

I think you are right. The founding fathers knew they couldn't control this nation from the grave, but they tried to give it a good start. I believe they expected the people to fight for their liberty and freedom again over and over just like they did. Jefferson corresponded with Adams right up to his death. A lot of what they wrote about to each other had to do with the question of if the country would make or not after them.

Real history is not taught in schools, it's the most propaganda I have ever read/heard in my life.

Here's some good quotes on what *some* the founding fathers thought.

"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal God, I will rout you out!"
--Andrew Jackson when approached by bankers in the White House

"All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."
--John Adams

"The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes"
--Abraham Lincoln

Editorial in the London Times after “Lincoln Greenbacks” were issued:

" If this mischievous financial policy, which has its origin in the North American Republic, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off its debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains and the wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe."

One of my favorites:
"The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Their common characteristic is obviously their sordid avarice." -- Aristotle

And last but not least, even the bible is against usury.


Deuteronomy 23:19 Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury.

Leviticus 25:36-37 Take thou no usury of him, or increase; but fear thy God; that thy brother may live with thee. Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.

When the Babylonian civilization collapsed, three percent of the people owned all the wealth. When old Persia went down to destruction two percent of the people owned all the wealth. When ancient Greece went down to ruin one-half of one percent of the people owned all the wealth. When the Roman empire fell by the wayside, two thousand people owned the wealth of the civilized world...It is said at this time less than two percent (2%) of the people control ninety percent of the wealth of America.

Just some food for thought.

[ascentient]

JustChris: Such nice quotes, particularly that one from the London Times. Then you had to spoil it all by bringing in the moralistic agenda of Aristotle and the Christian bible, both still limited by Platonic idealism.

*Please* read some Rothbard:

http://www.lewrockwell.com/rothbard/rothbard105.html

The two books at the right of this page (well, the first one for sure as that is the one I'm half way through) examine usury and laws against it in detail.

[JustChris]

JustChris: Such nice quotes, particularly that one from the London Times. Then you had to spoil it all by bringing in the moralistic agenda of Aristotle and the Christian bible, both still limited by Platonic idealism.

*Please* read some Rothbard:

http://www.lewrockwell.com/rothbard/rothbard105.html

The two books at the right of this page (well, the first one for sure as that is the one I'm half way through) examine usury and laws against it in detail.

Shouldn't laws be based on morality? I mean, it is unmoral to kill a man for your own profit, so why give a loan to someone to buy something they don't need so that they essentially become a slave to that debt?

I know there are certain things that call for a debt, such as a home or car, but other than that there is no reason a person can't save their money for an item instead of perpetuating this debt cycle that has been slammed into the minds of the American society.

I for one think that being in debt is essentially being a slave, with the biggest slaveholders being the Federal Reserve, and I don't particularly agree with slavery.

But for those essential things like a home or transportation to work, then I see no reason why the Treasury wouldn't be able to loan 0% interest loans for approved buyers, which wouldn't be usury, and there would be no need for debt if everyone just saved instead of buying everything with debt.

[ascentient]

JustChris:

Sure, laws should be based on morality. That would require a consistent body of morals however, which neither Aristotle or neo-Platonic Christianity provide (unfortunately). I'd suggest reading Atlas Shrugged by Ayn Rand, and consider her take on things.

How can you "know there are certain things that call for a debt, such as a home or car"? I paid cash for my car and will pay cash for my house (unless I can find loan terms that are better than cash). If you want to push your thinking, take it all the way to the extremes and first principles.

I agree that the current system we live by is akin to slavery and I'm as passionate about the abolition of it as you are. However, I think that there needs to be a clear philosophical standard of principles established to achieve this.

If you haven't read it, please do read Atlas Shrugged. I only read it in August last year (and got into PM's predominantly as a result of it) and truly believe it is the most valuable book I've ever read. I think you may come to agree with me if you read it too.

[Ancona]

The original purpose of credit was to facilitate the purchase of an item that an individual would ordinarily never be able to purchase. I remember my mom putting things on lay-away every year around June, so at Christmas we would all have some new clothes and toys prior to the advent of credit cards. Credit keeps the market functioning in areas such as agriculture because it allows you to use future earnings to grow your current crop, and in shipping because it allows you to ship your goods without having paid the shipper first.

I would hazard a guess and say that the original purposes of credit extention have been pereverted beyond the original idea, and would further say that credit of all types should be reigned in substantially.

Too many folks are living way beyond their means by using revolving credit that was not intended to be used for basic needs purchases.

[augernaut]

My opinion is akin to a christmas tree farm....set aside 7 acres plant one acre per year at the seventh year harvest your first acre then replant it......sustained harvest......unless fire destoys it

[cugir321]

And there is the darkness of usury. The biggest question is who do we trust?


Mankind corrupts everything it touches. So what's new?

[Mylläri]

Obviously the whole credit system is set up to put people in debt on purpose.

The more I learn about the credit system the more I'm inclined to agree and the more I'm inclined NOT to have/use credit.

If you are an 18 year old with no credit history and you are looking to buy a new car, you can expect to be hit with at least a 12% APR. To improve you credit rating you must make payments on time consistently, to obtain more credit you must go into more debt, etc, etc. The second you get out of debt your credit rating starts going down due to the fact that you have no debt which would sustain your credit score.

So yes, you have to be in debt to obtain future credit and remain in debt to achieve "good" credit status.

[nuslvrkwen]

Because it's DOES NOT perform the same way credit products did after lay away was replaced. It's no longer a termed contract deal. Lay away is coming back now through some retailers like Sears & KMart. Credit is revolving credit. Especially with adjustable interest rates. The loan products built with them are strictly put together so the borrower will not be able to fully pay off the loan before a specific time. In the old days; the borrower had to deal with pre-payment penalties. The interest rate and length of the loan is what makes the bank or loaner money. NOT the loan amount.

The agricultural/business loans for growers and shippers were around back in the 1700s! But they were termed contract deals. After the year of growing or shipping the borrower had to renegotiate another loan. Mortgages are revolving credit products these days. Even if you have a fixed loan. By the time you have 3 years or less to pay off your mortgage; your bank or loaner will want to offer ANOTHER loan (equity or line of credit) to you. The interest rates will be lower than the current rate you are paying and what it does is CONTINUE your servitude to the bank or loaner until you die. Some even have pre-payment penalty language written into them so you can't pay off if you win the lotto, or suddenly come into large amounts of cash.

My ex bought me out of our property in our divorce. Then 10 years later paid off the mortgage. Sounds great don't it? But the market tanked! Houses within a mile of his place defaulted and foreclosed. THAT ate up HIS equity. His house value is 'under water'. IF he chooses to use any equity he has in the property, he'll have to get another loan. I TRIED to encourage him to invest in bullion, because 3 years from now that bullion will be worth enough NOT to have to get another loan. Of course he didn't pay any attention to me, I'm the ex wife. So he'll be getting another loan to fix his house that will be almost like his first! AND he's years older than I am, so I'm expecting this geeze to die on his property because he won't have paid it off! It's paid off now! And needs major structural repairs. I'm just glad I'M NOT going be listed on the loan! I'm still listed as co borrower for the first that was paid off in June 2008! THAT's on my credit report for 10 years. I still expect some bank; probably Citi to send me a pre approved loan application one of these years. That's when I will sue them for around $100K.

Credit is a cancer. It's the way banks and corporate lenders got money ON TOP OF money received through stock investments! And commodity manipulation. Banks and corporations sell stock in their companies and get money that way. It's a loan really. Its' dividends paid out are 'loan payments'. Then they trade futures and speculate with money that they received through stock sales. So after all the work of earning the money through investment in their companies - they throw it away on stupider/riskier investments! If they default or lose money, they don't have to keep the loss on their books.

I've enjoyed this 10 whole years WITHOUT A CREDIT CARD, CAR LOAN, OR MORTGAGE! I can't imagine tying up my cash for a thing if I can't use it, and give it back.

I'm convinced the majority of the so called rich are just people with much bigger debt loads than I'd be willing to put up with. That's some serious insecurity. And as a result someone like me with less than a 6 figure salary can LIVE like the rich do because I can afford luxuries if I really want them.

[mizou]

After some digging around I found some historical prices.. Food for thoughts
Thought it might be relevant when talking about credit & also the consequences of giving governments the ability to borrow money on behalf of their people..

Money and Inflation 1930's

To provide an estimate of inflation we have given a guide to the value of $100 US Dollars for the first year in the decade to the equivalent in todays money

If you have $100 Converted from 1930 to 2005 it would be equivalent to $1204.42 today

In 1930 average new house cost $7,145.00 and by 1939 was $3,800.00
In 1930 the average income per year was $1,970.00 and by 1939 was $1,730.00
In 1930 a gallon of gas was 10 cents and by 1939 was 10 cents
In 1930 the average cost of new car was $640.00 and by 1939 was $700.00
A few more prices from the 30's and how much things cost
Firestone Tyre 1932 from $3.69
Single Vision Glasses 1938 $3.85
Complete Modern 10 piece bedroom Suite $79.85
Steak 1938 1LB 20 cents
New Emerson Bedroom Radio 1938 $9.95
Shaefer Pens 1933 from $3.35
Plymouth Roadking Car 1938 $685
Emmerson 5 tube bedroom radio $9.95
Howard Deluxe Quality silk lined hat $2.85

Chevrolet 1935 Master Deluxe
New Master De luxe Chevrolet with improved master blue flame engine, pressure steam oiling , cable brakes and shock proof steering $560

Example of a house for sale
1934 Stucco Bungalow Oakland
California 5 room stucco bungalow , breakfast room , separate garage, delightful location $3,750

Mens Shirt $2.50 Ohio 1932
Ladies Wool Flannel Robes $3.95 Nebraska 1934
Ladies Winter Coats $16.00 Indiana 1937
Mens Quality Overcoats $15.00 Indiana 1937
Ladies Oxfords Shoes $2.44 Indiana 1937
Mens Slacks $3.98 Indiana 1937
Womens silk hose 49 cents Ohio 1933
Boys overcoat wool 8.69-11.98/each From $ New Jersey
Boys pants and breeches, corderoy From $1.98 New Jersey
Boys school suit, From $7.94 New Jersey
Girls hose (tights), woolen, From $25 cents per pair New Jersey
Men s shirt, Arrow, From $1.45 New Jersey
Men s sport coat, /each From $19.98 New Jersey
Women s dress shoes, From $3.45 New Jersey
Women s suit, 2 pieces, From $6.98 New Jersey
Mens Sox 10 cents ohio 1933
Ladies Sandals 98 cents Maryland 1939
Boys and Girls Underwear 49 cents Maryland 1935
Mens 2 Piece Suit Double breasted $19.75 New York 1935
Howard Deluxe Quality silk lined hat $2.85 New York 1935
Sheeplined Moccasins 79 cents Ohio 1935
Fancy Broadcloth Pajamas $1.89 Indiana 1937
Mens Lined Gloves 98 cents ohio 1935

How much electrical goods and appliances cost in the 30's

Electric Toaster $9.95 New York 1932
Electrolux gas Refrigerator $144.50 North Carolina 1939
Westinghouse Cleaner with attachment kit $39.95 North Carolina 1939
Westinghouse Wringer washing machine $59.95 North Carolina 1939
Tappan Gas Range $69.95 North Carolina 1939
Emmerson 5 tube bedroom radio $9.95 Ohio 1938
Philco Auto Radio $24.95 Ohio 1938
Electric Flat Iron $1.49 North Carolina 1935
Electric Movie Projector $3.95 North Carolina 1935
Kelvinator Washer Wringer Price $54.95
Tappan Gas Range With glass door which allows you to see your cooking , split oven and flexo speed baking $109.75

New GE Thrifty Six
Fridge Six Cubic Feet all steel cabinet stainless steel super freezer $149.75

Philco Radio
With built in Ariel Tuning system with ultra high fidelity and able to pick up stations from countries around the world and Police, Air, and shipping $188.00

How much food and groceries cost in the 30's

Shoulder of Ohio Spring lamb 17 cents per pound Ohio 1932
Sliced Baked Ham 39 cents per pound Ohio 1932
Dozen Eggs 18 Cents Ohio 1932
Coconut Macaroons 27 cents per pound Ohio 1932
Bananas 19 cents for 4 Pounds Ohio 1932
Peanut Butter 23 cents QT Ohio 1932
Bran Flakes 10 cents Maryland 1939
Jumbo Sliced Loaf of Bread 5 cents Maryland 1939
Spinach 5 cents a pound Maryland 1939
Clifton Toilet Tissue 9 cents for 2 rolls Ohio 1932
Camay Soap 6 cents bar Ohio 1932
Cod Liver Oil 44 cents pint Wisconsin 1933
Tooth paste 27 cents Wisconsin 1933
Lux Laundry Soap 22 cents Indiana 1935
Suntan Oil 25 cents Pennsylvania 1938
Talcum Powder 13 cents Maryland 1939
Noxzema Medicated Cream for Pimples 49 cents Texas 1935
Applesauce 20 cents for 3 cans New Jersey
Bacon, 38 cents per pound New Jersey
Bread, white, 8 cents per loaf New Jersey
Ham, 27 cents can New Jersey
Ketchup, 9 cents New Jersey
Lettuce, iceberg, 7 cents head New Jersey
Potatoes, 18 cents for 10 pounds New Jersey
Sugar, 49 cents for 10 pounds New Jersey
Soap, Lifebuoy, 17 cents for 3 bars New Jersey
Sugar $1.25 per 25LB Sack Ohio 1932
Pork and Beans 5 cents can Ohio 1932
Oranges 14 for 25 cents Ohio 1932
Chuck Roast 15 cents per pound Ohio 1932
White Potatoes 19 cents for 10LBs Ohio 1932
Heinz Beans 13 cents for 25oz can Ohio 1932
Spring Chickens 20 cents per pound Ohio 1932
Wieners 8 cents per pound Ohio 1932
Best Steak 22 cents per pound Ohio 1935
Pure lard 15 cents per pound Wisconsin 1935
Hot Cross Buns 16 Cents per dozen Texas 1939
Campbells Tomato Soup 4 cans for 25 cents Indiana 1937
Oranges 2 dozen 25 cents Indiana 1937
Kellogs Corn Flakes 3 Pkgs 25 cents Indiana 1937
Mixed Nuts 19 Cents per pound Indiana 1937
Pork Loin Roast 15 cents per pound Indiana 1937
Channel Cat Fish 28 cents per pound Missouri 1938
Fresh Peas 4 cents per pound Maryland 1939
Cabbage 3 cents per pound Maryland 1939
Sharp Wisconsin Cheese 23 cents per pound Maryland 1939

[mizou]

After some digging around I found some historical prices.. Food for thought

Money and Inflation 1930's

To provide an estimate of inflation we have given a guide to the value of $100 US Dollars for the first year in the decade to the equivalent in todays money

If you have $100 Converted from 1930 to 2005 it would be equivalent to $1204.42 today

In 1930 average new house cost $7,145.00 and by 1939 was $3,800.00
In 1930 the average income per year was $1,970.00 and by 1939 was $1,730.00
In 1930 a gallon of gas was 10 cents and by 1939 was 10 cents
In 1930 the average cost of new car was $640.00 and by 1939 was $700.00
A few more prices from the 30's and how much things cost Firestone Tyre 1932 from $3.69
Single Vision Glasses 1938 $3.85
Complete Modern 10 piece bedroom Suite $79.85
Steak 1938 1LB 20 cents
New Emerson Bedroom Radio 1938 $9.95
Shaefer Pens 1933 from $3.35
Plymouth Roadking Car 1938 $685
Emmerson 5 tube bedroom radio $9.95
Howard Deluxe Quality silk lined hat $2.85
Chevrolet 1935 Master Deluxe
New Master De luxe Chevrolet with improved master blue flame engine, pressure steam oiling , cable brakes and shock proof steering $560

Example of a house for sale
1934 Stucco Bungalow Oakland
California 5 room stucco bungalow , breakfast room , separate garage, delightful location $3,750

Mens Shirt $2.50 Ohio 1932
Ladies Wool Flannel Robes $3.95 Nebraska 1934
Ladies Winter Coats $16.00 Indiana 1937
Mens Quality Overcoats $15.00 Indiana 1937
Ladies Oxfords Shoes $2.44 Indiana 1937
Mens Slacks $3.98 Indiana 1937
Womens silk hose 49 cents Ohio 1933
Boys overcoat wool 8.69-11.98/each From $ New Jersey
Boys pants and breeches, corderoy From $1.98 New Jersey
Boys school suit, From $7.94 New Jersey
Girls hose (tights), woolen, From $25 cents per pair New Jersey
Men s shirt, Arrow, From $1.45 New Jersey
Men s sport coat, /each From $19.98 New Jersey
Women s dress shoes, From $3.45 New Jersey
Women s suit, 2 pieces, From $6.98 New Jersey
Mens Sox 10 cents ohio 1933
Ladies Sandals 98 cents Maryland 1939
Boys and Girls Underwear 49 cents Maryland 1935
Mens 2 Piece Suit Double breasted $19.75 New York 1935
Howard Deluxe Quality silk lined hat $2.85 New York 1935
Sheeplined Moccasins 79 cents Ohio 1935
Fancy Broadcloth Pajamas $1.89 Indiana 1937
Mens Lined Gloves 98 cents ohio 1935

How much electrical goods and appliances cost in the 30's

Electric Toaster $9.95 New York 1932
Electrolux gas Refrigerator $144.50 North Carolina 1939
Westinghouse Cleaner with attachment kit $39.95 North Carolina 1939
Westinghouse Wringer washing machine $59.95 North Carolina 1939
Tappan Gas Range $69.95 North Carolina 1939
Emmerson 5 tube bedroom radio $9.95 Ohio 1938
Philco Auto Radio $24.95 Ohio 1938
Electric Flat Iron $1.49 North Carolina 1935
Electric Movie Projector $3.95 North Carolina 1935
Kelvinator Washer Wringer Price $54.95
Tappan Gas Range With glass door which allows you to see your cooking , split oven and flexo speed baking $109.75
New GE Thrifty Six
Fridge Six Cubic Feet all steel cabinet stainless steel super freezer $149.75
Philco Radio
With built in Ariel Tuning system with ultra high fidelity and able to pick up stations from countries around the world and Police, Air, and shipping $188.00
How much food and groceries cost in the 30's
Shoulder of Ohio Spring lamb 17 cents per pound Ohio 1932
Sliced Baked Ham 39 cents per pound Ohio 1932
Dozen Eggs 18 Cents Ohio 1932
Coconut Macaroons 27 cents per pound Ohio 1932
Bananas 19 cents for 4 Pounds Ohio 1932
Peanut Butter 23 cents QT Ohio 1932
Bran Flakes 10 cents Maryland 1939
Jumbo Sliced Loaf of Bread 5 cents Maryland 1939
Spinach 5 cents a pound Maryland 1939
Clifton Toilet Tissue 9 cents for 2 rolls Ohio 1932
Camay Soap 6 cents bar Ohio 1932
Cod Liver Oil 44 cents pint Wisconsin 1933
Tooth paste 27 cents Wisconsin 1933
Lux Laundry Soap 22 cents Indiana 1935
Suntan Oil 25 cents Pennsylvania 1938
Talcum Powder 13 cents Maryland 1939
Noxzema Medicated Cream for Pimples 49 cents Texas 1935
Applesauce 20 cents for 3 cans New Jersey
Bacon, 38 cents per pound New Jersey
Bread, white, 8 cents per loaf New Jersey
Ham, 27 cents can New Jersey
Ketchup, 9 cents New Jersey
Lettuce, iceberg, 7 cents head New Jersey
Potatoes, 18 cents for 10 pounds New Jersey
Sugar, 49 cents for 10 pounds New Jersey
Soap, Lifebuoy, 17 cents for 3 bars New Jersey
Sugar $1.25 per 25LB Sack Ohio 1932
Pork and Beans 5 cents can Ohio 1932
Oranges 14 for 25 cents Ohio 1932
Chuck Roast 15 cents per pound Ohio 1932
White Potatoes 19 cents for 10LBs Ohio 1932
Heinz Beans 13 cents for 25oz can Ohio 1932
Spring Chickens 20 cents per pound Ohio 1932
Wieners 8 cents per pound Ohio 1932
Best Steak 22 cents per pound Ohio 1935
Pure lard 15 cents per pound Wisconsin 1935
Hot Cross Buns 16 Cents per dozen Texas 1939
Campbells Tomato Soup 4 cans for 25 cents Indiana 1937
Oranges 2 dozen 25 cents Indiana 1937
Kellogs Corn Flakes 3 Pkgs 25 cents Indiana 1937
Mixed Nuts 19 Cents per pound Indiana 1937
Pork Loin Roast 15 cents per pound Indiana 1937
Channel Cat Fish 28 cents per pound Missouri 1938
Fresh Peas 4 cents per pound Maryland 1939
Cabbage 3 cents per pound Maryland 1939
Sharp Wisconsin Cheese 23 cents per pound Maryland 1939

[fansubs_ca]

I still expect some bank; probably Citi to send me a pre approved loan application one of these years. That's when I will sue them for around $100K.

Um, sue them for what reason? The loan offer is just that an offer, either
accepting or refusing it is up to you, I don't see the damage in the offer
being made by bank. I'm as much of a "cash man" as you can get,
nothing owed on the house, don't own a car, credit cards all at $0
balance as of today and no other loans. I don't get offended if I'm
offered credit though, it's up to me to make the judgment to turn
down the offer if it doesn't suite me.