World Bank Unveils Its One Billion Dollar Lending Plan on China Despite US Opposition

[DGUtley]

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[PJL]

1. How are corporations sucking America dry? 2. Once again you speak without knowing what you talk about. The United States is 13th in the list of countries by household debt as a percentage of GDP. https://en.wikipedia.org/wiki/List_o...household_debt As a matter of fact, your beloved Australia is second. Some say you Aussies are debt slaves: https://www.businessinsider.com/thes...-slaves-2017-1 You should take heart in the fact that Russia is 58th -- which probably more reflects that there's not much consumerism in Russia rather than responsibility. 3. In terms of the percentage of net disposable income, the United States is 15th: https://data.oecd.org/hha/household-debt.htm 4. As far as National debt -- we're 8th. https://learn.stashinvest.com/10-cou...al-debt-to-gdp (Again, I hate it, loathe it, would go on an austerity program if it was up to me) You are just wrong. Further demonstrating either your irrational hatred for the USA or your lack of knowledge. I can't tell. "....the US more so than any other country..." -- HUH?

The bulk of Americas wealth resides with the 1% . A large majority of the rest live by credit card month to month , and can only manage to pay the exhorbitant interest , without managing to reduce the actual debt . The FED has cut interest rates to sub 1%........while credit card interest rates are , how much ?.......so , big interest rate cuts for some , and nothing for the rest......Australia suffers from these same bankster parasites and the gouged profits all go back to.......the FED.America has two economies , the real economy , and the economy set up to benefit the bankers and Wall St .......and never the twain shall meet. It's the folly of the pathetic trickle down neocon economy.

[bulletbob]

The bulk of Americas wealth resides with the 1% . A large majority of the rest live by credit card month to month , and can only manage to pay the exhorbitant interest , without managing to reduce the actual debt . The FED has cut interest rates to sub 1%........while credit card interest rates are , how much ?.......so , big interest rate cuts for some , and nothing for the rest......Australia suffers from these same bankster parasites and the gouged profits all go back to.......the FED.America has two economies , the real economy , and the economy set up to benefit the bankers and Wall St .......and never the twain shall meet. It's the folly of the pathetic trickle down neocon economy.

You really dont have a clue do you plo the vast majority of wealth in america is in our homes and bank accounts or small businesses.

[bulletbob]

Us homes are valued at 33.3 trillion and us small businesses are over 99 percent of the business in America

[DGUtley]

The bulk of Americas wealth resides with the 1% . A large majority of the rest live by credit card month to month , and can only manage to pay the exhorbitant interest , without managing to reduce the actual debt . The FED has cut interest rates to sub 1%........while credit card interest rates are , how much ?.......so , big interest rate cuts for some , and nothing for the rest......Australia suffers from these same bankster parasites and the gouged profits all go back to.......the FED.America has two economies , the real economy , and the economy set up to benefit the bankers and Wall St .......and never the twain shall meet. It's the folly of the pathetic trickle down neocon economy.

You are mistaken and have bought into the propaganda. Over the past 32 years as a lawyer I have learned that Credit card debt is more an issue of priorities than income. I have been involved in countless bankruptcies where the debt is not from living but from extravagance. Countless. The vast and overwhelming majority. Yet, debt managed and used appropriately is just one tool.

[PJL]

You are mistaken and have bought into the propaganda. Over the past 32 years as a lawyer I have learned that Credit card debt is more an issue of priorities than income. I have been involved in countless bankruptcies where the debt is not from living but from extravagance. Countless. The vast and overwhelming majority. Yet, debt managed and used appropriately is just one tool.

Why haven't credit card interest rates come down , the same as other interest rates ? The US currently carries $815 billion in credit card debt.......https://www.valuepenguin.com/credit-...ip#quick-facts ....that's $ 8 1 5 billion.........the average credit card debt per person is $6,354............The average credit card interest rate is 19.21% for new offers and 15.10% for existing accounts ........The FED is using currency manipulation far worse than anyone else in the world , on Americans.

[DGUtley]

Why haven't credit card interest rates come down , the same as other interest rates ? The US currently carries $815 billion in credit card debt.......https://www.valuepenguin.com/credit-...ip#quick-facts ....that's $ 8 1 5 billion.........the average credit card debt per person is $6,354............The average credit card interest rate is 19.21% for new offers and 15.10% for existing accounts ........The FED is using currency manipulation far worse than anyone else in the world , on Americans.

Oh my. The Fed doesn’t set credit card interest rates. Rates don’t come down because there is a market at such rates. If there was no market, the rates would come down - and have since the 70’s. For example, those with less risk pay less of a rate because they drove the market for their business down.

The Fed is the boogeyman on personal credit card rates? Damn socialist propaganda.

[PJL]

Oh my. The Fed doesn’t set credit card interest rates. Rates don’t come down because there is a market at such rates. If there was no market, the rates would come down - and have since the 70’s. For example, those with less risk pay less of a rate because they drove the market for their business down. The Fed is the boogeyman on personal credit card rates? Damn socialist propaganda.

You can't be serious ?....The Fed sets the interest rates , and the lending institutions have an option to pass it on to consumers , yeah........who do you think supplies the money to the lending institutions , the Tooth Fairy ? We have the same scam operating in Australia....when the Reserve Bank drops interest rates , and the banks don't pass it on , The RBA says "hey , don't blame us , we're independent from the banks".......only a numbskull would believe that shyt.

[atheist4thecause]

I'm not surprised nor do I even think the World Bank is doing anything wrong, but calling China a developing country when they are the 2nd biggest economy in the world is a bit humorous.

[atheist4thecause]

You can't be serious ?....The Fed sets the interest rates , and the lending institutions have an option to pass it on to consumers , yeah........who do you think supplies the money to the lending institutions , the Tooth Fairy ? We have the same scam operating in Australia....when the Reserve Bank drops interest rates , and the banks don't pass it on , The RBA says "hey , don't blame us , we're independent from the banks".......only a numbskull would believe that shyt.

You are being ridiculous. The FED's interest rates are low. If the FED was responsible for setting credit card interest rates then credit card interest rates would come down a lot. Instead, the lending bank sets it's own credit card interest rates within parameters that the government says they can set. Also, the FED's interest rates are low right now so your logic disproves your own argument. If the FED sets credit card interest rates, credit card interest rates would be low. They don't so although we have low interest rates, we still don't have low credit card interest rates.

The only thing that you said is reasonable is that banks can pass on higher interest rates to the consumer. It's a little more complicated because they can only do that to the extent the consumer is willing to accept it.