dwy000 Posted January 12 Posted January 12 1 minute ago, 73 Reds said: And why do you think usury laws apply to smaller loans? Most of the *other* loans on your list are secured in one form or another. I'm referring specifically to CC debt. The most ignorant, vulnerable, least educated folks with the least means wind up paying the highest interest rates. Glad you're OK with that; I'm not. They end up paying the highest rates because they are the highest risk. You are sounding shockingly like Elizabeth Warren and Bernie Sanders right now. They might kick you out of Florida if these posts get out.
73 Reds Posted January 12 Posted January 12 Just now, dwy000 said: They end up paying the highest rates because they are the highest risk. You are sounding shockingly like Elizabeth Warren and Bernie Sanders right now. They might kick you out of Florida if these posts get out. Wrong again. That's why we need limits.
73 Reds Posted January 12 Posted January 12 1 minute ago, dwy000 said: They end up paying the highest rates because they are the highest risk. You are sounding shockingly like Elizabeth Warren and Bernie Sanders right now. They might kick you out of Florida if these posts get out. They can still have to pay the highest rates but not rates than no one can afford.
73 Reds Posted January 12 Posted January 12 9 minutes ago, Parsad said: Believe it or not...I'm a capitalist and believe in free markets. Not sure what your stance is. Cheers! I don't believe in fleecing people that don't know any better.
cubsfan Posted January 12 Posted January 12 42 minutes ago, TwoCitiesCapital said: Soy boys as in soy farmers, right? I hear Trump is absolutely annihilating their numbers so you should be good here. Yup, all systems are go. Economy, stock market, employment numbers, trade deficit. US economy - best economy in the world. Just think, all that crying, hysteria and whining about tariffs, economic destruction and recession. All bullshit! It's a beautiful thing.
TwoCitiesCapital Posted January 12 Posted January 12 14 minutes ago, Parsad said: Believe it or not...I'm a capitalist and believe in free markets. Not sure what your stance is. Cheers! He believes in free markets too! Markets where Daddy Trump is free to do as he pleases.
dwy000 Posted January 12 Posted January 12 7 minutes ago, 73 Reds said: Wrong again. That's why we need limits. What do you mean wrong again? Are you arguing that high risk borrowers dont default more?
Parsad Posted January 12 Posted January 12 2 minutes ago, 73 Reds said: I don't believe in fleecing people that don't know any better. Get rid of gambling, drugs, alcohol, high sugar foods, pay day loan companies, revolving credit, etc. There's a shitload of stuff you should be banning before capping credit card interest rates at a rate that would reduce available credit or limit cards to those who are of high credit quality only. Cheers!
changegonnacome Posted January 12 Posted January 12 (edited) Not sure there's much point discussing this CC proposal from Trump.....he's floundering in the polls on affordability & the economy and this populist bullshit is really just to the give the impression he gives a fuck about poor people So much noise - Jay Powell indictment, Fannie Freddie $200bn MBS, cheap VZ oil 'coming soon', credit card 10% cap, Blackstone cant buy houses anymore - give me a break........he's one tweet away from announcing the federal government will open 'MAGA Market' a chain of federal run grocery stores to help folks getting ripped off by Walmart & Costco! Edited January 12 by changegonnacome
cubsfan Posted January 12 Posted January 12 33 minutes ago, John Hjorth said: Randy Fine [January 12th 2025] : Congressman Fine Introduces Greenland Annexation and Statehood Act to Strengthen U.S. National Security and Put Our Adversaries on Notice - - - o 0 o - - - That's certainly a new way to declare war, how about the element of surprise in agressive warfare? -Or perhaps just a special operation of some kind? [The last idiot isen't dead yet!] Time to Make Greenland Great Again - Free Greenland from their Danish oppressor!
Blake Hampton Posted January 12 Posted January 12 Thank God Trump is trying to save us from that damn Powell. Dude needs to lower rates; I can't afford my CC bill.
Mephistopheles Posted January 12 Posted January 12 Lol so much for the free market principles of the Republican Party. Personally I love 20% rates on credit card’s because they help subsidize those of us who take advantage of card benefits and pay our bills on time. Am also a proud shareholder of V/MA. I wouldn’t mind if those rates went up to be honest. We need more credit availability not less. Insane how the cult blindly follows the dictator no matter what, even if it’s central planning/socialism.
73 Reds Posted January 12 Posted January 12 Just now, Parsad said: Get rid of gambling, drugs, alcohol, high sugar foods, pay day loan companies, revolving credit, etc. There's a shitload of stuff you should be banning before capping credit card interest rates at a rate that would reduce available credit or limit cards to those who are of high credit quality only. Cheers! Now you're must making stuff up. Who said anything about banning credit cards? I get it, you don't believe in usury laws.
73 Reds Posted January 12 Posted January 12 4 minutes ago, cubsfan said: Time to Make Greenland Great Again - Free Greenland from their Danish oppressor! Its truly fun watching people do mental gymnastics over Trump.
cubsfan Posted January 12 Posted January 12 Just now, 73 Reds said: Its truly fun watching people do mental gymnastics over Trump. It would be nice if they could keep their sense of humor.
Parsad Posted January 12 Posted January 12 1 minute ago, 73 Reds said: Now you're must making stuff up. Who said anything about banning credit cards? I get it, you don't believe in usury laws. You essentially would be banning credit cards from a majority of users...not just consumers, but small businesses who use credit cards until receivables are paid...consumers who have been stretched since the Pandemic and use credit until their paycheck arrives...consumers who may have low credit scores, but are rebuilding their credit...young students who would probably be denied credit as they build their credit scores coming out of university/college...etc. Also, if you reduce interest rates, credit card companies will just move that cost over to vendors. Instead of Amex charging your local drugstore 3.5%, they'll be charging them 8%! Cheers!
73 Reds Posted January 12 Posted January 12 Just now, cubsfan said: It would be nice if they could keep their sense of humor. Eh, most here do. Its those in my closest social circle that are much more interesting. By some of their posts on social media you'd think they were downright kooks, but nary a word when we are together. My wife and I laugh about how hard that must be.
73 Reds Posted January 12 Posted January 12 3 minutes ago, Parsad said: You essentially would be banning credit cards from a majority of users...not just consumers, but small businesses who use credit cards until receivables are paid...consumers who have been stretched since the Pandemic and use credit until their paycheck arrives...consumers who may have low credit scores, but are rebuilding their credit...young students who would probably be denied credit as they build their credit scores coming out of university/college...etc. Also, if you reduce interest rates, credit card companies will just move that cost over to vendors. Instead of Amex charging your local drugstore 3.5%, they'll be charging them 8%! Cheers! How about not extending credit to those who are not credit worthy? I know, novel concept. Or ever heard of a secured credit card? Another novel concept. There are many more alternatives for both issuer and borrower. Yeah, too hard. Takes work.
cubsfan Posted January 12 Posted January 12 2 minutes ago, 73 Reds said: Eh, most here do. Its those in my closest social circle that are much more interesting. By some of their posts on social media you'd think they were downright kooks, but nary a word when we are together. My wife and I laugh about how hard that must be. Yeah, I agree with that. I've met so many of the CoBF crowd at @Gregmal JOE gathering. Great people. I know they think I'm full of shit, but we ALL got along so well. Every one of us. And damn, I even found a couple that agree with me! There is definitely a silent majority out there.
Mephistopheles Posted January 12 Posted January 12 2 minutes ago, 73 Reds said: How about not extending credit to those who are not credit worthy? I know, novel concept. Or ever heard of a secured credit card? Another novel concept. There are many more alternatives for both issuer and borrower. Yeah, too hard. Takes work. How about letting adults be adults and let them borrow what they want? It’s a free country
73 Reds Posted January 12 Posted January 12 2 minutes ago, Mephistopheles said: How about letting adults be adults and let them borrow what they want? It’s a free country Indeed; it was a free country that voted in our last President. Yet many can't seem to get over it.
Mephistopheles Posted January 12 Posted January 12 Just now, 73 Reds said: Indeed; it was a free country that voted in our last President. Yet many can't seem to get over it. Excellent argument
dwy000 Posted January 12 Posted January 12 15 minutes ago, 73 Reds said: Its truly fun watching people do mental gymnastics over Trump. Its somewhat ironic reading this while you support the most far left concepts of Bernie Sanders because Trump supported it.
73 Reds Posted January 12 Posted January 12 Just now, dwy000 said: Its somewhat ironic reading this while you support the most far left concepts of Bernie Sanders because Trump supported it. @dwy000 you have entirely no clue what all is important to me. One thing that is NOT important is who my views align with.
dwy000 Posted January 12 Posted January 12 4 minutes ago, 73 Reds said: @dwy000 you have entirely no clue what all is important to me. One thing that is NOT important is who my views align with. Okay. So do you support Bidens $8 cap on overdraft fees? Or do you support Trump removing the cap, which will punish exactly the same people as the cc rates.
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