Money Problems? Borrow Your Kids’ Social Security Numbers

Why not? Kids have a clean slate when it comes to credit scores.  Sure, they don’t have a long history, but you can help with that. 

And you can buy that 56-inch 3D LED TV you’ve been craving.  In a few months, you might even be able to buy a new car—on your kid’s credit.

Best of all, you really don’t need to pay it off.  Let your kids pay that loan.

happy-peopleThink about it: most kids rack up a ton of college debt. They borrow and borrow to go to college.  And they can’t even eliminate school loans with bankruptcy.

They can get out of the loan for your Hummer, though.  And if they love you, they’ll be happy to help.

Besides, you need the Hummer to haul the kids and their friends around to malls and soccer practice, right? 

Plus you’re establishing their credit for them.

Only one problem: pretending to be your kids by stealing their identity is identity theft.  And sort of like financial molestation.

So why isn’t federal borrowing a crime? 

The US government has borrowed $14+ trillion using my Social Security number and yours.  The same government has bribed older generations to buy their silence—even their complicity.

Worse, most of this debt has been charged to the accounts of Millennials.  And their kids. 

Where’s the outrage?

Thomas Jefferson showed appropriate fury at the notion of borrowing to benefit the present generation at the expense of future generations.

I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.


Then I say, the earth belongs to each of these generations during its course, fully and in its own right. The second generation receives it clear of the debts and incumbrances of the first, the third of the second, and so on. For if the first could charge it with a debt, then the earth would belong to the dead and not to the living generation. Then, no generation can contract debts greater that may be paid during the course of its own existence.

If you were born after 1982 (Millennial Generation), I’d love to hear your thoughts on the matter. How do you feel about entering the workforce almost $50,000 in debt for things no one every asked you about?

Ruining Lives For Fun and Profit

I don't know why this story depresses me so much, but it does.  It makes me sad for a lot of people. relays a Times of London story of a company that offers to financially, socially, and otherwise ruin people's lives for a meager $20 USD.   I won't provide a link to the dreadful site.

A service offering a complete "revenge package" in which people can destroy the financial status and relationships of their enemies at the click of a mouse is being offered over the Internet.

Perhaps the proprietors of the site have never been in extremis.  If they are lucky, they've never had hushed conversations with a spouse--out of earshot of the kids--to choose, once and for all, between bankruptcy and foreclosure.  Maybe they don't know the pain of telling the kids you're moving, not to a better house with more room and a new kitchen, but to a much smaller, older, less comfortable house that you can better afford.

Victims' bank accounts can be shut down remotely and all their essential utilities cut off.

A few victims of the web site's operators and clients might have something nasty coming to them.  My guess is that many of the victims don't.  The odds are pretty good that most of the victims are decent people trying to get through life the best they can--like many of us.

"Create some false payslips [paychecks] and send them back returned to the victim's employer and watch them lose their job," it advises.

"Destroy a person's bank account using our novelty bank statements. Bank accounts are like gold dust now; return[ing] a novelty bank statement with their details back to the bank works for killing someones [sic] credit card account."

That someone, enterprising and evil, would prey and profit on the vengeful hatred of ruthless people, destroying the lives of perfect strangers, irritates the most callous strands of my heart.

There are sick people in the world.  We all knew that.  But this is a kind of evil against which society has so few defenses.  In classic identity theft, the thief, at least, makes a profit; he doesn't hand it over to a third party.  With this outfit, the person exacting revenge walks away $20 and a soul lighter.