Canadian TV is bullshit

Yesterday I was listening to the news (bad idea) when I heard another dumb news:

Banks increase the interest rate on credit margins by 1%.

GOD NO! Not 1%! Mister dumbass then mentionned banks recently received help from government (canadians banks didn’t and even if it was the case, what does it has to do with anything?) and raised the interest rates anyway.

But the dumbest part is yet to come. A dumb family cried over how their 1,000$ credit margin was now 1% higher which translates to…

…$10 per year.

GOD NO! NOT 10$ PER YEAR!

What a bunch of crybabies. Who cares about 10 fucking dollars! The family then bitched about how poor they were and about how “every penny was counted”. Experience taught be that people who say that usually do the opposite - smoke, drink, eat out often, etc. Just cut one meal at a restaurant per YEAR and nothing will change in your life. As a matter of fact, the family had tons of crap in their large, spacious condo: stupid board games you play once, a huge television and even speakers for better sound quality. How many 10$ did that stuff cost, Ms. Penny? Or did you use your margin to buy this crap you don’t need? Dumbasses.

Another asshole went in saying his $35,000 margin would now be at 13% instead of 12% which leads me to my next point:

If you borrow $35,000 at 12%, you’re a dumbass. Final answer.

Seriously, what the hell? What can you do with $35,000 at 12%? Buy a house? Get a mortgage at 6%. Stocks? Get a margin at 4%. Education? Get a student loan at 3%. Affording your expensive trendy lifestyle of $11 sushis and 8$ frappucino twice a week? Piss off. Don’t make me cry over your stupid lifestyle and don’t expect pity neither when you can’t continue to enjoy a life beyond your means, especially when people like me work so hard in school and at home for very little.

The world has become too expensive and people spend too much. It’s time some of these companies go bankrupt. We just can’t go on and expect every business in North America to live on even they suck. I say let them crash or even better, help let them. Let the strong, talented managers keep on. Stop giving large bonuses to Wall Street suckers even when they get a return lower than the DOW Jones. I went to a bar recently. Since when does a pitcher of beer cost $27? And since when is it allowed for a server - an employee - to bitch at you when you give her $30 because you “it’s just $3 of tip WHICH IS LOWER THAN 15%!!!!!!” I’m almost glad the unemployement rate is going up. Means incompetents and lazy fucks are getting out. This lady doesn’t deserve a job. 3$ to bring a pitcher? Not enough? Wtf!

Recently I went to Subway (a disgusting fast-food selling pre-digested food) and I had a 50% rebate, making the price of one sandwich go from $14 to $7 or from “horribly expensive” to “very expensive”. Pretending I didn’t show the coupon when I ordered and that she already entered my order in her computer (you have to show the coupon before you even order, but that’s bullshit — they can very well enter it later and give you your rebate, she was just lazy), she refused to honor it. And I refused to pay. That’s what I don’t like about people: they can get scammed, they can see the scam right in front of them and they will still pay it because they’re too scared to just… Oh, I don’t know, go away!

Take that time me and my family went to a relatively expensive restaurant in New York. The place was cheap, the food was mediocre at best but the funniest part was when they tried to charge us $14.00 — $2.00 per glass no less — for every glass of tap water we drank. On the top of that, they added a 15% tip to make sure we did tipped them and in an attempt to make us tip twice (sometimes I really wish I had time to write stories about my tip project!). Can you imagine something more scammy than that? Yet 90% of people will pay it. It’s just $14 plus whatever! It’s not worth the trouble! So basically, you are saying fighting to be treated fairly isn’t worth it. You’re an idiot.

To conclude the story, after arguing and after they almost threaten to call the police (we should have been the ones calling them — police in a restaurant is very bad for the place), they finally took the $14 charge off. Supposedly it was written in the menu somewhere, probably in font 8 at page 27 right under a section no one ever reads like alcol ffees (who pays $10 to get brezilian crap? Seriously?). I’m ashamed our family still left a tip after being treated like that.

Back to the shit banks and, most of all, shit people. Guess what? No one forced you to take a $35,000 loan. No one took your hand and signed the contract for you, guns pointed at your head. And no one told you the rate would be flat at 11% neither. I have a credit margin what I use for trading stocks (at 4-5% though). If the rate goes too high, I’ll simply stop doing it and repay my margin. What’s hard to understand with that? What part of that is not clear? You spend your margin to get a shit car, a shit vacations or some other crap - while people like me work hard and spend cautiously - it’s your problem, not mine. Don’t go to the TV and bitch at the $10 per year you’ll have to fork.

The reporter then mentionned that this extra 1% rate on a $20,000 margin could amount to $5,000 over 25 years. Great job, except that you ignore actualisation (the interest you pay later is worth less today), inflation (5,000$ in 25 years is less than 5,000$ today), present value (you have to refund $20,000 in 25 years, which isn’t worth the $20,000 you’re getting today) and all other things financially mathematic, along with assumptions you’ll be dumb enough to keep your margin fully loaded for more than two decades. Don’t go ahead and mention 20,000$ invested today in the stock market, according to past trends, will be worth well over $200,000 in 25 years. Way to put your $5,000 in perspective, although I’ll admit you were skilled enough to come to a nice, round figure.

I hate people more and more everyday. People bitching at a 1% rate increase while still wasting thousands of dollars every year on fuel, car costs and maintenance when they could very well use buses. People getting a $35,000 margin to buy trendy cars, travel and enjoy life while I work 6 days out of 7 to finish university and get almost nothing but $2 lunches. People tipping $8 on a $27 pitcher of beer worth around $2-3. People accepting to be insulted and still paying whatever the place charges them, people who fall in scams - consciously - and still do nothing because they’re too scared about it and better at talking than acting, people who bitch about their jobs and still waste their money everywhere - forcing them to remain at that job forever - and people taking loans they’ll repay 5 or 6 times in their lifetimes with interest. One more news on interest rates and I get a heart attack.