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 Epic American Credit and Bond Bubble Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Oblomov who wrote (58918)4/20/2006 5:08:16 PM
From: shades  Read Replies (1) of 110194
 
Even a payday loan might be "good debt" depending on the use of the funds and the individual circumstances.

Right, some people needed this to fix thier car so they could continue driving to work and keep food on the table. A retiree needed one to fix her AC until her next retirement check came - saving her from heat stroke. Why didn't the generals and state legislators and congress see this?

Once a war veteran needed it for his medicine - they didn't see all these helpful uses of this high interest debt. So nanny state came in and free market businessmen went out. Now the al capone crime lords are back in that business.

Likewise, many small businesses are started on credit cards, many of which fail, yet many succeed, too. The boom in China, which is regarded on this thread as the exemplar of a vigorous economy, is largely financed by state-guaranteed loans.

Right - Hanke says if we force a yuan revaluation - thier banking system will collapse and they will go into deflation and china would be better to accept our trade sanctions than revalue. That thier piss poor loans aren't ready for what bush is asking of Jintao.

The question is, should we protect ALL people against such risks, even if an individual has proved capable of managing risk well?

I just posted a link to anarchist about how far we should go in enforcing the repayment of debt.

I don't think the adult loantech talked about that has a low credit score with only 100 bucks in the bank (probably from a payday loan - HAHA) is responsible for a huge loan - do you? For some reason anarchist thinks so - I know you don't share that silly view do you?

Now grace has made the point we need to let them hurt, thats the only way they will learn, Anarchist makes this point to - make them pay for thier ignorance - vosilla says it could wipe out an entire generation - that seems so EVIL to me Oblomov - we must crush an entire generation of people and throw them into the bowels of debt slavery and poverty to teach them thier lesson - don't you think that is evil? The philster said if all this debt hadn't been issued to fools by greedy bankers and loan officers - things would not be so bad - do you disagree? Should we do as anarchist and put all the blame on the dumb housewives and dumb soldiers that married them and dumb fools that take on 500K 45 year loan with 100 bucks in thier bank account - none of that blame should go on loantechs shoulders?
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News