Credit isn't real money

[jack]

Again, life questions from Drop the Dead Donkey. I maybe view credit differently to many people, being fortunate to normally have enough money, and being weaned on traditional views of fiscal responsibility, and think of a credit card as the least inefficient way of acquiring certain legal protections for quirks of historical reasons.

Using DTDD as an example. At one point Sally's purse goes missing with a large amount of money in. She suspects Dave, which he and everyone is extremely shocked by. At another, in revenge on Damien for something, George lets his daughter smash his car. Which is seen as harsh or vicious, but not unscrupulous or evil.

However, when Damien leaves and Dave spends a similar amount of money from his credit cards at Ladbrooks [gambling], everyone sees this more like the second than the first. I've seen it elsewhere too, that charging something to someone's credit card is seen as a bit cheeky (both whether or not you might expect them to mind buying it), when taking money from them to buy it is seen as wrong.

Why is that? (Is the implication that they might be able to recover the money with hassle? And it end up being stealing from a big bank, which isn't seen as so bad? But surely that involves reporting it as theft, which would get the friend arrested, wouldn't it?)

Comments

[captain-aj.livejournal.com]

You can gamble off of credit cards? :O

[woodpijn.livejournal.com]

I thought something similar in Enchanted, when

possibly minor spoiler warning

a six-year-old girl gets her dad's credit card from a hiding-place in a drawer, saying "Daddy says this is only for emergencies. And this is an emergency" - the "emergency" being a clothes-shopping trip. I think it's supposed to be cute and endearing, but I don't think they'd have written it like that if it were a hidden wad of cash.

end spoiler

(Just to clarify, I thought Enchanted was excellent - I'm just describing a minor scene from it which illustrates your point, rather than slating it in general.)

[robhu.livejournal.com]

Credit card money is not real.

[shreena.livejournal.com]

That's really spooky. I had exactly the same reaction to that bit of Drop the Dead Donkey. I think it's beyond weird that Dave is so offended to be accused of stealing but then steals from Damien.

[d37373.livejournal.com]

I think we're confusing two things here.

Credit card money, debit card money, or indeed bank statement money, is not real. I discovered this recently when I was trying to get home by bus - shiny bits of plastic don't mean anything to bus drivers, you have to give them cash. If the economic system broke down more than 'spent bus money on the last round, nearest cash machine is out of order' we would discover that cash is only shiny metal and shiny paper.

Equally, my salary is not real money. The real money is about 30% less than the big number I signed up for, but since this is a shared hallucination it doesn't really matter. For me you can take off another fraction of 'real' money for living in London - living costs are up, wages are up. Little difference for most jobs.

The second thing is credit, as in loans. Credit cards being the best way to get a legal guarantee is a legal artifact and only a deciding issue for the well off. I would say that availability, ease of use, social acceptance/ease of self-justification ("emergencies") are much bigger drivers. Personal debt makes sense in some situations:

1. long term gain (house vs. rent, university, almost never otherwise. Suit for an interview?)


2. real hand-to-mouth emergencies. That could count as (1), in terms of surviving (although you have to think that your life will be, in balance, positive)


3. Pure financial benefit. This is incredibly rare for individuals, but very common for business. An individual who can do this is called an "entrepreneur" and counts as a business :)


4. Short term benefits outweigh any long-term downsides. Death or already-certain bankruptcy. Imminent breakdown of the financial system. Also applies to governments borrowing to stay in power.

I have so much more to say about this, maybe I should write it up and post it. Although I am suddenly tempted to write it all here, with subheadings :)