Credit Card Cap
(media.greatawakening.win)
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The beauty of Trump is he can always make something out of nothing.
Does the executive have the power to do this? Probably not, at least not in a permanent, meaningful way. But Trump will pull a few levers, trigger some court cases that he may ultimately lose, get the Democrats riled up, start a national conversation, and somehow a few months later the legislation will be on the table ready for him to sign.
He turns irrational liberal rage into productive, bipartisan policy, and understands the benefits of doing something you're not allowed to do is it makes your opponent react.
Well said it’s a thing of beauty when he does it well
Agreed.
Citizens breaking their chains. They want us enslaved.
Please show me any Democrats complaining about this.
10% is still too much. The last card I had which was a few years back was 4%. Haven't had one since. There are nothing more than a bunch of loan sharks
Eh the problem is it’s unsecured debt so it’s more risky. You have to offer higher than normal returns because of the higher than normal default rates. Unless the govt is going to be insuring the debt or making it like student loans where you can’t discharge it.
They create the money when it is spent on your credit card. That is by its very nature, inflationary, which is the price we all pay with the destruction of the value of the dollar. They are lending you something they made out of thin air and are charging you interest on it. Think about it. Interest rates should be 0.
What happens when every single low income american racks up $50,000 worth of debt, buys all sorts of nonsense, and then defaults? Do you really think we can just infinitely print money out of thin air and NOT have hyperinflation?
Countries do NOT survive hyperinflation and infinite printing of money. If trump doesn't get this shit under control, America may not have survived our current trajectory.
You are pretending as if we have a functioning economy at the heart of it all, instead of a dead service economy where 99% of GDP is glorified transfers of money for minimal real, transformative work done.
Trump is betting the farm on restarting an actual functional economy that performs transformative work (manufacturing, construction, farming, resource exploitation), because if we fix the Fed banking problem without a real economy, we create a multi-generational depression that makes the Great Depression look like a sneeze.
Trump: "And for my next trick, I will make Democrats demand to pay more in interest fees!"
I know people are saying this is still too high, but where I'm at, that's cutting interest in half.
And my credit is above 700
800 and the best rate is 24%
Still too high, but this is a step.
The goal is abolition of interest, because interest is usury.
You are exactly right Fren
May so, but it is legal and has to be.
Dont go all half cocked about it like others here if you dont understand simple economics.
Even with the gold standard loans have been, are, and will be a neccesary part of business and economics.
Regulating it, such as a cap on interest is a way to allow it to exist and not destroy financial institutions or the businesses or individuals who want or need them. While you may not like it, properly executed loans are critical to business.
Agreed..IF everyone is on a Level Playing Field, which we are not. The System has already placed "Joe Average" at a disadvantage. Inflation, Taxes, Economy..etc,etc,etc. This was one of the reasons Ol Klaus said...You will own Nothing and be Happy. The System was already set up to eventually take most down. I am sure that there are those, that will "Charge it" until they drop...I wonder how many have used it to just pay groceries, or gas, or the car that just blew an engine..?
Correct. While it can certainly be abused as in your examples, not everyone has a deep well, reserve of funds. If that engine blows and the vehicle is a neccessity, you cannot tell the person "sorry, you can't take out a personal loan to fix it because of my beliefs on loans, you should have forseen the need and saved up money."
There is a thing called personal responsability, but there is also a thing called accidents/unforseeable expenses.
Cash is King. Hoping people can become debit free with this help. 0.5% is too high and that money looks better in your pocket than their pocket. Cash Baby!
Who -1’ed this? It’s true, but only because our currency is promissory notes instead of money.
For all the smooth brains who cant pay their debt off because of 20-30% credit cards… this is a very big deal and wooo people to trump
Yeah that shit adds up and becomes practically impossible for people living paycheck to paycheck to ever dream of their minimum payment going to anything but interest
CC companies show annual profits of higher than 50%. When you are dealing with hundreds of billions of dollars in charges, THAT is a lot of money!
more support for the cabal
I've never thought anything good could come from having a cc and avoided getting one. Even though they sure want me to! I could probably heat my room for the winter by burning the spam cc offers I get in the mail. But 10% is interesting, I'd be tempted to max one out to buy shiny rocks
And what about businesses charging an extra 3% for using a credit card? That never used to happen, now it seems more and more businesses are doing it! The high interest rates the credit card companies are charging are much more than criminals make off of some loans!
This needs to happen....
This is welcome news to me. I've got several cards I'm paying on.
Israel in shambles
Now do arrest with usury all together
Wonder how that works. I have really good credit, 770 range, but still have high interest rates on my cards. i use them and pay them off monthly, or use interest free payment option when i shop on amazon for a bigger ticket item. Except for the surgery my cat had but I took out a discover card where I had a year interest free.
now make 10% interest on savings accounts
I try to shop at local businesses that give a cash discount. Paying cash avoids the 3% merchant fee. The merchant fee is how the credit companies make money even when you pay them off every month. They always make money. People forget about the merchant fee when they tell you about all the cash back and airline miles they rack up. Those things are not free.