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re: Trump announces a temporary 10% cap on credit card interest rates
Posted on 9/19/24 at 11:59 am to Major Dutch Schaefer
Posted on 9/19/24 at 11:59 am to Major Dutch Schaefer
Price controls next?
0
Posted on 9/19/24 at 12:02 pm to Major Dutch Schaefer
Right wing price controls?
Bold strategy, Cotton.
And yes, this is price controls for revolving credit.
Bold strategy, Cotton.
And yes, this is price controls for revolving credit.
This post was edited on 9/19/24 at 12:04 pm
Posted on 9/19/24 at 12:03 pm to Lsut81
quote:
So much for free market... He's just throwing shite at the wall at this point.
It wasn't a free market before. There is already a cap on interest rates. All Trump wants to do is change the existing regulation.
I've been here for years and have never seen one person complain about a ceiling on credit card interest rates. Now that Trump mentions lowering it, it's suddenly a grave assault on the free market.
If preventing credit card companies from charging absurd interest was so detrimental to the free market, it seems like it would have been worth mentioning before now.
Posted on 9/19/24 at 12:03 pm to Major Dutch Schaefer
Terrible idea. CC rates reflect the cost of money but also default risk. Is GovCo going to cover the CC companies losses?
Posted on 9/19/24 at 12:04 pm to Robin Masters
quote:
Those are all things he’s has the power and will to do. Maybe start there. Foreign policy and invasions being the chief responsibilities of the CIC and all.
But maybe he isn't serious and he won't do those things. If we start saying he was just kidding about whatever the topic may be and excuse it away as him saying whatever he needs to say to gain voters... Where does the excuse making end? What do we take seriously and where does our accountability of him begin? I worry about things like this. I must be getting old.
Posted on 9/19/24 at 12:11 pm to Major Dutch Schaefer
It’s things like this that make me think. This will stop the CC companies from giving CCs to people who can’t afford them. That’s a good thing.
This will also reduce Credit limits. Bad for the short term but probably what’s best for our economy in the long term.
This will also reduce Credit limits. Bad for the short term but probably what’s best for our economy in the long term.
Posted on 9/19/24 at 12:11 pm to Major Dutch Schaefer
Unfortunately the way to win as a Republican now is to run as an economic populist. Conservatives started losing elections because Democrats started promising free stuff, and you have to beat them at their game.
Not arguing against conservatism on ideological merits, just saying that conservatism failed to conserve much of anything because its leaders failed to grasp how to acquire and wield power. The Democrats have understood this for decades. I recommend reading Beautiful Losers by Samuel Francis.
Not arguing against conservatism on ideological merits, just saying that conservatism failed to conserve much of anything because its leaders failed to grasp how to acquire and wield power. The Democrats have understood this for decades. I recommend reading Beautiful Losers by Samuel Francis.
This post was edited on 9/19/24 at 12:15 pm
Posted on 9/19/24 at 12:17 pm to SquatchDawg
quote:
Is GovCo going to cover the CC companies losses?
Bush says HELLO!
Posted on 9/19/24 at 12:19 pm to Figgy
quote:
But maybe he isn't serious and he won't do those things.
Or maybe he means it but wants congress to do their job
Posted on 9/19/24 at 12:19 pm to Figgy
quote:
But maybe he isn't serious and he won't do those things. If we start saying he was just kidding about whatever the topic may be and excuse it away as him saying whatever he needs to say to gain voters... Where does the excuse making end? What do we take seriously and where does our accountability of him begin? I worry about things like this. I must be getting old.
Then vote for Kamala if you’re having this much trouble. Probably won’t even rank in the top 1000 dumbest things you’ve done!
Posted on 9/19/24 at 12:22 pm to DyeHardDylan
quote:
Unfortunately the way to win as a Republican now is to run as an economic populist. Conservatives started losing elections because Democrats started promising free stuff, and you have to beat them at their game.
Not arguing against conservatism on ideological merits, just saying that conservatism failed to conserve much of anything because its leaders failed to grasp how to acquire and wield power. The Democrats have understood this for decades. I recommend reading Beautiful Losers by Samuel Francis.
See I have a problem with this (and you are right). The idea that we have had this "FREEEEEEE MARKET!!!" is false.
I mean it is an out right lie. Never in our history have we had a "free Market".
And that's what the Slow man and those here like him can not grasp.
Posted on 9/19/24 at 12:22 pm to BigPerm30
quote:
Needs to crack down on processing fees. These credit cards are out of control. That would help with inflation
This makes more sense. In a largely cashless society now, processing fees are ridiculous
Posted on 9/19/24 at 12:24 pm to Major Dutch Schaefer
Trump is a populist why is anyway suprised?
The Dems act like populists for a few months every 4 years but that’s about it
The Dems act like populists for a few months every 4 years but that’s about it
Posted on 9/19/24 at 12:24 pm to lsufball19
quote:It makes sense to have price controls because you think something is ridiculous?
This makes more sense. In a largely cashless society now, processing fees are ridiculous
Welcome, comrade!
Posted on 9/19/24 at 12:24 pm to Revelator
quote:
It seems that Trump had gotten into a giveaway battle with Kamala. It’s not a good plan or look.
At least Trump isn’t trying to forgive debt the federal government is going to pass onto everyone else. He’s simply proposing a cap on how quickly it accelerates
Posted on 9/19/24 at 12:26 pm to Major Dutch Schaefer
Maybe if they could only charge 10% they would only give credit cards to people who can afford to pay them. Credit card debts out of control because they gave anybody with a 550 credit score a credit card. Then they go charge it up they can't pay it and then it's passed on to the taxpayers their debt
This post was edited on 9/19/24 at 12:27 pm
Posted on 9/19/24 at 12:31 pm to Who_Dat_Tiger
quote:
ETA watched a clip of Clinton in 96 yesterday talking about taking a hard stance on illegal immigration, building a wall and deporting illegal aliens. That needs to be played to every Dim in hopes of breaking their programming. Maybe they’ll realize how far left their regime they support has gone
i posted on X that this should be his next campaign ad....just play the clip and say something like...Trumps border policy.....created and approved by bill clinton
as far as the interest cap on credit cards im torn on this
on one hand my libertarian side is 100% right in the...free market sytle of government
but the logical side of me says....the feds have been regulating interest rates that could be charged for decades and go after loan sharks for charging extravagant rates and have went after pay day loan companies for the same thing
also i think this would help everyday American and would cause the credit card companies to stop handing out CCs to everyone with a pulse.
Posted on 9/19/24 at 12:37 pm to BCreed1
quote:
Or maybe he means it but wants congress to do their job
Sure and I'd be all for it. But he certainly used executive orders in his first term. What's to stop him from doing so in a 2nd term if he's truly serious about doing something knowing that he only has one term to make an impact.
Posted on 9/19/24 at 12:38 pm to BCreed1
quote:
You know darn well that the Fed Gov already caps it.
If I punch you in the mouth, does that mean it's OK for me to do it more?Posted on 9/19/24 at 12:40 pm to Taxing Authority
quote:
If I punch you in the mouth, does that mean it's OK for me to do it more?
Nope. But it's not the point. Horrible comparison too.
This isn't federal over reach into the private lives of Americans. This would be 12 USC 85.
Constitutional power granted to Congress to govern.
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