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re: Anyone watching Tucker on the Koch brothers?
Posted on 6/19/19 at 8:32 pm to Janky
Posted on 6/19/19 at 8:32 pm to Janky
Tucker has been a populist protectionist for a while now.
I don’t agree with it and it flies in the face of the free market, but it’s a humanitarian/socialist view of economics that isn’t “take all the white man’s money”
I don’t agree with it and it flies in the face of the free market, but it’s a humanitarian/socialist view of economics that isn’t “take all the white man’s money”
0
Posted on 6/19/19 at 8:33 pm to nugget
meh....35% interest rates on payday loans are exploitative.
Posted on 6/19/19 at 8:38 pm to AUjim
quote:
meh....35% interest rates on payday loans are exploitative.
The borrower doesn't have a right to the lender's money and the government doesn't have a right to tell a lender how they should lend their money. Housing and student loan bubbles happen when the government gets in the loan business
Posted on 6/19/19 at 8:40 pm to nugget
quote:
The borrower doesn't have a right to the lender's money and the government doesn't have a right to tell a lender how they should lend their money.
Exactly. If I'm a lender, and am trying to charge too much interest on a risky loan, that customer has every right to walk out and take their business elsewhere and try to find someone else who will give them a better deal.
Posted on 6/20/19 at 8:14 am to BBONDS25
quote:Not this crap again.
Why wouldn't the benefits mostly go to corporations? They got the biggest tax cut.
I would love to hear your understanding of 199A and the corporate tax cut.
If he doesn't answer, just post to yourself so you can show how knowledgeable you are after your Google course on 199A.
Posted on 6/20/19 at 8:21 am to texridder
We get it, you hate the free market and capitalism.
Posted on 6/20/19 at 9:19 am to nugget
quote:Tucker has plenty of money. He should lend it to poor folks for the cap rate he suggests. But he won't do that. Why? Because there is a risk he wouldn't get paid back.
a cap on payday loan and credit card interest rates
The folks who pay nosebleed rates do so because they are high risk borrowers. They can find no alternative.
Tucker would better serve folks targeted by PayDay etc, by investigating their best alternative loan options, then running a spot on his show about it.
Posted on 6/20/19 at 9:43 am to nugget
Tucker is useful for lib bashing but his ideas on how to fix problems aren't conservative. He's a big government interventionist. He's like Warren but likes tax cuts.
Posted on 6/20/19 at 9:45 am to nugget
I find the Koch Bros. to be inconsistent/contradictory in their political positions.
Posted on 6/20/19 at 9:45 am to AUjim
quote:
35% interest rates on payday loans are exploitative.
Why?
What should the rate be to which it decreases risk and still makes lending profitable?
Posted on 6/20/19 at 11:24 am to RogerTheShrubber
quote:The problem is that the rates are usually 10 times higher than 35%.
What should the rate be to which it decreases risk and still makes lending profitable?
The amount being loaned on a Payday loan is typically just one paycheck -- $200-300-400 -- for a term of usually 1 to 4 weeks. The interest to be charged is stated on a daily basis. There is a stated annual interest rate.
The article I read said that a survey found that the average Payday loan annual interest rate nationwide was 400%.
For a $200.00 loan, the maximum that can be charged per day in California $3.57 per day, whjch equates to a maximum annual rate of 469.29%.
That seems exploitative to me.
This post was edited on 6/20/19 at 11:27 am
Posted on 6/20/19 at 11:53 am to cajuncarguy
quote:
That's not conservative. They are anti American.
Weird how quickly the next generation strays from the path.
Their Dad was a brilliant man who made his fortune and built a huge business.
He also was a huge contributor and proponent of the John Birch Society.
Posted on 6/20/19 at 12:16 pm to texridder
quote:
For a $200.00 loan, the maximum that can be charged per day in California $3.57 per day, whjch equates to a maximum annual rate of 469.29%.
If you take a year to pay back a $200 loan you deserve everything you get.
Posted on 6/20/19 at 1:05 pm to nugget
quote:
quote: Well his point is our government is intervening for big business already, so basically frick that and we should if anything intervene for poor and middle class Americans.
So the answer is more economic intervention and less free market principles?
You either have socialism for everybody (Including the middle class), or let the free market rule for real by letting giant corporations and banks fail when they make mistakes, stop welfare at the top and severely limit it at the bottom.
Posted on 6/20/19 at 1:37 pm to BuckyCheese
quote:It's hard to know where to start to discuss such an absolutely imbecilic post.
For a $200.00 loan, the maximum that can be charged per day in California $3.57 per day, whjch equates to a maximum annual rate of 469.29%.
If you take a year to pay back a $200 loan you deserve everything you get.
Just because an annual rate is calculated doesn't mean the loan will necessarily remain outstanding for a full year.
In your defense, there is likely an underlying aspect to your statement that slightly mitigates the lack of intelligence otherwise exhibited.
In your mind anyone who would take out a Payday loan is abhorrent and not worth any consideration whatsoever.
So, let me ask you this question. Would you take out a Payday loan if it was necessary to feed your wife and children?
And before you get all puffy and start a sidetrack disparaging every Payday loaner, I need to remind you that every one of them has a job or they can't get a Payday loan.
What's your answer?
Posted on 6/20/19 at 1:53 pm to nugget
quote:
Couldn't agree more. I don't think the government should intervene in a mutually agreed upon contract between 2 private parties.
So , you are for pimps and hoes and all sort of stuff as long as it is between "consenting" individuals.
Any age restrictions there? I am sure you are for a 7 year old signing up for 100% interest.
Posted on 6/20/19 at 2:01 pm to nugget
quote:
I would love to hear your understanding of 199A and the corporate tax cut.
quote:
Not this crap again. If he doesn't answer, just post to yourself so you can show how knowledgeable you are after your Google course on 199A.
quote:Do you pay any attention at all to the post you are responding to or do you just parrot out this stupid tripe regardless.
We get it, you hate the free market and capitalism.
Why don;t you explain how you came to the conclusion that I "hate the free market and capitalism" from my above post?
Posted on 6/20/19 at 2:03 pm to texridder
quote:
Would you take out a Payday loan if it was necessary to feed your wife and children?
In an extraordinary circumstance, I assume he might. I assume anyone might. That's what those places are for: extraordinary circumstances.
Short-term, extraordinary circumstances
Posted on 6/20/19 at 2:10 pm to AUjim
quote:33% of payday borrowers default within 6 months. Nearly half default within two years of the date they took out their first payday loan.
meh....35% interest rates on payday loans are exploitative.
When lending to a group at that high a risk-level, what interest rate should be charged?
Put another way, lending is a competitive business. If a company could safely undercut payday loan rates, it would.
Posted on 6/20/19 at 2:48 pm to texridder
quote:
Why don;t you explain how you came to the conclusion that I "hate the free market and capitalism" from my above post?
It's your constant bleeding on the board and crying for government intervention that leads me to believe you hate the free market.
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