SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: bentway who wrote (28065)3/11/2005 3:57:15 PM
From: Elroy JetsonRead Replies (1) of 306849
 
Credit companies give credit to those who are not credit-worthy because it is profitable under our system which mis-allocates capital.

In the sub-prime market, once a customer/victim has carried a balance for 4 or 5 years the loan has already been paid back and is in profit - even if the customer/victim files a Chapter 7 BK at that point.

The monetarist system of subsidized over-lending in America creates many unhealthy and hugely costly situations. But it all goes back to John Law who did not believe money should be a store of value, but merely a medium of exchange. Today, disciples of John Law call themselves Monetarists or Supply-Siders. But let's hear the essential lie from the Master himself.

"Money is not the value for which goods are exchanged, but the value by which they are exchanged. The use of money is to buy goods and precious metals while money is of no other use."

John Law -- "Lettre sur le Nouveau Système des Finances, 1720"
.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News