Economics: PayDay Loans- Bastards or Black Sheep?

[DBTrek]

Yeah, democracy sucks, just ask Fife and DB.

If only a benevolent emperor would just make these decisions for us, benighted, stupid citizens.

How did explaining the mechanics of short-term, high risk, no collateral loans resulting in high interest rates land me in the anti-democratic camp?

[Hanarchy Montanarchy]

Yeah, democracy sucks, just ask Fife and DB.

If only a benevolent emperor would just make these decisions for us, benighted, stupid citizens.

How did explaining the mechanics of short-term, high risk, no collateral loans resulting in high interest rates land me in the anti-democratic camp?

It didn't.

Making a big deal over how the democratic process is little more than ignorant dummies being tricked into depriving their fellow citizens of vital 'economic tools' did.

[DBTrek]

So ... you don’t think popular political positions can adversely affect the economy?

I find that difficult to believe. Yet, if you acknowledge that “what’s good for a political career isn’t necessarily good for the economy” then you are just as anti-democratic as I.

I’m beginning to think you’ve been ... triggered.

[Hanarchy Montanarchy]

Am I coming off as triggered?

I think it is an interesting topic, and am enjoying the discussion. Maybe I am getting the tone wrong.

I am drinking hot toddies in rapid succession, made from the cheapest Kentucky Bourbon the store offered, so I might be getting excitable.

[DrYouth]

Hanarchy is making a run for Assassin of the Month...



Damn, you saw what happened with the last winner of that award.

Maybe strangle him in his crib?

[DrYouth]

But don't worry DB... Han Mon is just a contender.

You have a lock on it with your Economics series...

But let's see how this plays out shall we...

[DBTrek]

Am I coming off as triggered?

I think it is an interesting topic, and am enjoying the discussion. Maybe I am getting the tone wrong.

I am drinking hot toddies in rapid succession, made from the cheapest Kentucky Bourbon the store offered, so I might be getting excitable.

Right on.
Happy Thursday morning!

[Hanarchy Montanarchy]

Troof! (I have a weird schedule.)

In all fairness, I live in a world where I can get liquor, tacos, and pot edibles delivered to my front door for pennies on the damn dollar, so I can never be all that anti-market.

[Speaker to Animals]

Admittedly, I do get a kick out of lawyers telling me that certain industries are predatory and feed off society like vampires.

[heydaralon]

I assumed everyone knew that payday places charged high rates due to the untrustworthiness of the borrowers lol. Someone posted an article on here a month ago defending "price gouging", during national disasters. It was pretty much verbatim, the same way this one was, to the dozens of boilerplate reason.com articles that have been coming out for the last five years after a hurricane or flood happens with just the date changing. I am not arguing for or against payday loans, nor price gouging, but it is a little strange to act like this is untreaded ground. Many of the arguments used in this series were used in the high school econ classes that we all took. If there is anything we have seen from watching the news, financial and business practices that make money are in no danger of going away lol. Whether or not payday loans are a good or bad practice is immaterial. They (or something identical with slightly different legal wording should they get outlawed) will be with us for the foreseeable future. They don't need our orayers and support, or consideration honestly, and Payday stores are gonna do just fine as long as poor people are bad with money. The next post in the series should be about how great it is that Saudi Arabia is pumping oil out of the ground and selling it to the world. I'm sure our opinions will help educate the House of Saud to help make the best call... They need our help just like Payday stores, and give a fuck about public opinion.