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Thread: Capitalism's saving grace and our inexplicable doom

  1. #11
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    Kalkin's Avatar Senior Member
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    Quote Originally Posted by Scerab View Post
    If your making money off charging poor people huge amounts of interest and targeting people who can't pay back thier loans, creating misery and despair.
    Then your a true capitalist...
    No, I pay for everything with my card, pay it off at the end of the billing cycle, and get 2% cash rewards for doing it without paying any interest. 2% can add up if you're spending multiple thousands. I do lend money to my friends, but don't charge them any interest. I've got about 20K tied up that way, but I take care of my own, if you follow.
    "An army, great in space, may offer opposition in a brief span of time.
    One man, brief in space, must spread his opposition
    across a period of many years if he is
    to have a chance of succeeding"

    ~RZ67~

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  3. #12
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    Quote Originally Posted by Scerab View Post
    I see you have great Wikipedia skills...
    I see you have no argument. And do not know Austrian Economics.

  4. #13
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    Quote Originally Posted by Scerab View Post
    If your making money off charging poor people huge amounts of interest and targeting people who can't pay back thier loans, creating misery and despair.
    Then your a true capitalist...
    Do you just make this up as you go along?

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    donttread's Avatar Senior Member
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    Quote Originally Posted by Scerab View Post
    This is a gross version of unrestrained capitalism. In which a small group of majority share holders appoint a small group of board directors who could very well move a factory to china and destroy a community along the way. A good example of this is Detroit.
    We hear about the 100 or 200 thousand jobs created every months, but what we don't see is the number of jobs lost, and the percentage of those created jobs that are minimum wage or part time.
    The new post Recession American has developed a gig part time economy. More and more workers need to work multiple jobs just to cover thier basic needs. While industries either relocate abroad or to states with lower minimum wages and no labor unions despite great profit margins. That's why two red states decreased the minimum wage going against the currency world wide trend.
    What America needs is a another new deal and a maximum income tax, same as what FDR implemented. But the capitalists are too powerful for that to ever happen. During the Great Recession, the greedy hedge fund billionaires got the tax payer bail out while the working poor got nothing.
    Try to contemplate all of this when you sing the national anthem or say "god bless America".

    Think bigger. A few of those small groups of sharholders collectively dictate the actions of congress and the whitehouse and you have what we see now and what I call corporatism.

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    Quote Originally Posted by Scerab View Post
    If your making money off charging poor people huge amounts of interest and targeting people who can't pay back thier loans, creating misery and despair.
    Then your a true capitalist...
    AS one who originated Reverse Mortgages, you are totally wrong! The RM has saved millions of seniors from a life of poverty, and provided them with cash/or a lien of credit during their need. It taps equity to provide this cash(tax free) and the heirs can get the house by simply paying off the balance owed when Mom/Dad die. They retain full title to the home.They must make sure that they pay their homeowners insurance and keep repairs up on the home, tho.There are a lot of wrong-headed myths going around about RM, started by lawyers and real estate folks who want to sell Grandmas house out from under them.


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    I currently do marketing for two different Reverse Mortgage Agents, one in California, and one who does US wide. A senior only needs to be over age 62, and have at least 50% equity in their home. And it pays off any regular mortgage they have! If you know of anyone who is interested, PM me, with their name and phone #.

    Having equity does nothing for you if you can't tap it. And the RM is for seniors who want to keep their home until their final days.

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    Kalkin (07-23-2017)

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    Liberals tend to project their child-like financial acumen upon everyone else. Most adults are fully capable of determining if it's in their best interest to take advantage of financial products offered in the marketplace.
    "An army, great in space, may offer opposition in a brief span of time.
    One man, brief in space, must spread his opposition
    across a period of many years if he is
    to have a chance of succeeding"

    ~RZ67~

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    donttread's Avatar Senior Member
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    Quote Originally Posted by Kalkin View Post
    Liberals tend to project their child-like financial acumen upon everyone else. Most adults are fully capable of determining if it's in their best interest to take advantage of financial products offered in the marketplace.
    We still need usery rates back for the Credit Card industry . And their "late fees" should be based upon the balance or payment due, not some high set rate. In the late 80's while doing my taxes I was stunned to find out I could deduct my credit card interest but NOT my college class tution . That's how undue infiluence effects the control code and gives the connected an unfair advantage.

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    Quote Originally Posted by donttread View Post
    We still need usery rates back for the Credit Card industry . And their "late fees" should be based upon the balance or payment due, not some high set rate. In the late 80's while doing my taxes I was stunned to find out I could deduct my credit card interest but NOT my college class tution . That's how undue infiluence effects the control code and gives the connected an unfair advantage.

    Why shouldn't "usury" rates be based on what you and the credit company agree on voluntarily?


    This entire thread reads like a medieval debate on usury.

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    My cards all have high rates and ridiculous late fees. I've never paid either. If you don't know the game, don't play until you do.
    "An army, great in space, may offer opposition in a brief span of time.
    One man, brief in space, must spread his opposition
    across a period of many years if he is
    to have a chance of succeeding"

    ~RZ67~

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