Usury by any other name...

The Muslims are laughing at us. Not all Muslims--I'm sure some are just feeling vindicated. What amuses them so? The fact that we've gotten ourselves into this tremendous economic problem. Of course, it all stems from the credit markets. And I don't need to explain to you how large corporations have fallen while others are teetering and already millions of people have lost either or both their house and their job.

What has this to do with Muslims? In Islam, it is a sin to charge interest or pay interest. If you've ever wondered why so many Muslims live two or three families in a house, now you know. Unlike the rest of the world, they can't borrow the money they need to purchase a home. They have, however, come up with various ways to get themselves into expensive propositions like home ownership without using credit.

I'm writing about this because I just heard that some lending institutions are using predatory interest rates as a way of boosting their bottom line. What do I mean when I say "predatory"? Would you believe 30% per annum!?

Do I have any grasp at all on how big finance works? First, they gave money to people who didn't have a snowball's chance in hell of repaying them. Smart move. Then, when those people actually defaulted on their loans and mortgages, the banks almost stopped lending altogether. How did they expect to make money without lending? Now, we hear about exorbitant rates being charged. I'd like to know how many people who can actually afford to pay such high rates are willing to take on more debt considering their job is subject to being lost at any time?

I don't know why, but I keep getting surprised by the moves that the supposedly brightest minds, individually and as a group, keep screwing up the world royally. I should be used to it by now. From CEO's of auto companies to the titans of the financial sector, to presidents of powerful countries, we see ineptitude that dwarfs anything even that of an average person. But I digress...

Before "retiring", I had many friends and colleagues who were Muslim, and one in particular was a very good friend and was also one of the less "westernized" among them. On many aspects of Islam which we discussed at great lengths, I somewhat agreed, if not whole-heartedly, were good practises. The taking and paying of interest I hadn't been sure of, but given the mess that all the brainiacs in the credit markets have put the whole world in, there's now no doubt in my mind that it is a decidedly bad thing. The frenzy of unabated consumption driven by virtually unlimited credit has caused many ills to individuals, society and the environment long before the credit crunch occurred. The true brilliant minds have been warning about it's unsustainability for some time...and as usual, few were listening.

How I feel about bankers.

Happy Easter!

I wish you all good health, happiness, peace and prosperity.

Q & A's from around the web

If my girlfriend is talking a lot of sh** and being disrespectful, is it wrong if I pop her one in the mouth?

Editor's note: I'm sure the above question was meant in jest, but some of the (serious) answers are frightening.

Not at all. Women need to be put in their place from time to time. They try to act like they can do whatever they want at times. A good punch in face with make her respect you, and also be more horny for you.

Why dont you say "honey please be respectful". That should work.

Only rappers can do that. You'll have to re-phrase your question in a rhyming format where every other word has to be censored.

um yes if someone is being mean,disrespectful u cant just pop them what u should do is dump her and go out with sum one who can respect u...like me.

Editor's note: Fascinating. The above girl wants to get involved with someone who would consider punching her in the mouth if he gets annoyed. The following guys are actually giving the would-be abuser tips.

I'd advise you to do like the cops and put a phonebook to her face before beating her to avoid leaving marks.

maybe just once... they won't put you away for life for somethin like that. but on a serious tip, don't. espscially if she's ghetto because she might just show you a thing or two

Communication 101

The fight against obesity is alive and well. They're taking it to youngsters in school so that it can be controlled or prevented before it takes a firm grip on people. From an article in Canadian newspaper The Globe and Mail:

Schools and chain restaurants should be required to post caloric information beside menu items to arm consumers with the knowledge needed to make healthier choices as part of the growing battle against obesity, the Ontario Medical Association proposed yesterday.

The doctors' group wants school pupils to be able to see the number of calories in a slice of pizza, a basket of French fries or a ham-and-cheese sandwich listed beside the price of the item.

It's critical to educate young people about their bodies' energy requirements and the nutritional content of food, particularly as childhood obesity reaches epidemic proportions in Canada and many other developed nations, the OMA said.

I'm afraid I don't think that would work. I just don't see kids paying much attention to a seemingly meaningless number on a food item. I have a better idea. Why not indicate the relative calories in products using visual aids? I suggest something like the following scheme posted on packaging, menus or walls (click to enlarge):




Now, that's language students can easily understand and appreciate!

You may be already be a winner!

Okay, there's nothing to win here, but read on and you might save a few hundred bucks...

I switched to a new car insurance company a few years ago after my then current company raised my rate to a level that seemed to me unreasonable. I switched to CAA since I was a member (I believe it is the same as AAA in the U.S.), and got an unbelievably lower rate. If memory serves, it was in the order of $450 per year less.

It's up for renewal next month and although the new rate isn't unreasonable, I was thinking of maybe checking out Grey Power whose ads (in this area) can be seen everywhere. It is for safe drivers over 50 and promises savings of $300 or more. I mentioned this to my daughter as we were driving one day and she told me about (How about that--a "Grey Power" commercial has just come on TV at this very moment.) a website that will do the insurance comparison shopping for you.

As soon as I got home, I went to the Kanetix website, entered my information in about two minutes and immediately got quotes from about seven insurance companies. There was only one quote that was lower than the one from CAA, and get this--they provided one from CAA, also, and it was right on to the dollar as the one on my renewal form. The sole lower quote was only about $13 less--not enough for me to go to the trouble of changing. Just so you know, the Grey Power quote was exactly $299 more than what my insurance company is asking.

There are two sister websites--one for Canada and one for the United States. You just enter your Zip/Postal code and off you go.

Click here if you are a resident of Canada.

Click here if you are a resident of the U.S.

I hope it saves you some money. Let us know how it goes.