19 Sep 2018

Credit and…Pirates!?

Credit and...Pirates!
Credit and…Pirates!

It’s International Talk Like a Pirate Day, September 19th, 2018! In honor of such a prestigious and momentous event, we wanted to breakdown the origin of the first corporations (pirates!) and give a brief letter of encouragement to all sailors on the sea of life in search of major treasure and fine trinkets (i.e. financial success), as we are currently living in an economic environment that is not friendly to the individual.

Wait what?

Back when our government was trying to figure out the major fiasco of the 2008 financial crisis and global credit crunch, Dr. Peter Hayes published a paper titled ‘Pirates, Privateers and the contract theories of Hobbes and Locke’. He stated that pirates were the originators of modern democracy because of the way they ran their ships:

“Pirates elected their captain, voted on major decisions and distributed their booty in roughly equal shares, and there is something in the idea that a pirate ship is the equivalent of a modern corporation.”

The way buccaneering was approached back in these wild times was that a person would find a crew, appropriate a ship, then sail the seven seas in search of gold. This is much like modern venture capitalism, the prospect of risk vs enormous rewards. Those rickety old vessels were the equivalent of modern corporations, which, in search of their bottom line, are out to appropriate every dollar they can pull in.

The problem comes about when certain rules apply for individuals, but not for a select few corporations. Remember when the big banks, the root cause of the total economic meltdown in 2008 were bailed out by the government, or that during the Obama years, the top 1% captured over half the economic gains while the bottom 99% never recovered from the crash?

Dr. Hayes says:

“Pirates had a democratic structure and relative equality, but they were doing all of this to violate the rights of other people. The idea of a social contract is that it protects human rights. But what if you create a social contact to say that we’ll observe rights towards each other, but we won’t observe rights for outsiders?”

Sound familiar?

This is why we at Boost Credit 101 do everything we can to help people protect themselves (through education) from the dastardly, scurvy tactics of these major corporations, not to mention the obtuse methods and algorithms utilized by the credit bureaus–which are also major corporations.

Hey, remember when Equifax lost half the country’s data and paid zero consequence? But you miss a single payment and your score drops from 780 to 690. Is that fair? No, that’s why using tradelines can be a secret weapon against the unfairness of these massive companies that don’t mind grinding us little folks into the ground.

Take heart mates. We are here to make your lives easier.

So please be directin’ any questions ye may have at any time to us without hesitatin’!