2024 Presidential Election thread

[Tiger337]

He does have an unhealthy alliance with Putin, but there are conservatives in this country that are driving him as well.  There are multiple forces which are using him as a conduit. 

[Mr.TaterSalad]

[Tiger337]

Apparently Sanders and Trump agree on somethng.  MTB will love that!

They both want to save stupid people from themselves.  

https://www.indiatoday.in/world/us-news/story/bernie-sanders-open-to-teaming-with-trump-on-curbing-credit-card-interests-2634568-2024-11-16

[Mr.TaterSalad]

6 minutes ago, Tiger337 said:

Apparently Sanders and Trump agree on somethng.  MTB will love that!

They both want to save stupid people from themselves.  

https://www.indiatoday.in/world/us-news/story/bernie-sanders-open-to-teaming-with-trump-on-curbing-credit-card-interests-2634568-2024-11-16

I think this is a good idea in theory. I do think absorbent credit card fees need to be curtailed and interest rate increases need to be more transparent. I guess I do fear that people with limited, no, or poor credit will be increasingly denied credit. But I do support what Bernie is trying to do hear. We'll see if it's a campaign promise Trump actually intends to deliver on. 

[Tiger337]

1 minute ago, Mr.TaterSalad said:

I think this is a good idea in theory. I do think absorbent credit card fees need to be curtailed and interest rate increases need to be more transparent. I guess I do fear that people with limited, no, or poor credit will be increasingly denied credit. But I do support what Bernie is trying to do hear. We'll see if it's a campaign promise Trump actually intends to deliver on. 

I also think it's good in theory, even though I am very much against running up any credit card debt.  The Republican Congress will never go for it.  

[Mr.TaterSalad]

4 minutes ago, Tiger337 said:

I also think it's good in theory, even though I am very much against running up any credit card debt.  The Republican Congress will never go for it.  

Not with Bernie as the lead sponsor anyways. 

[gehringer_2]

5 minutes ago, Mr.TaterSalad said:

Not with Bernie as the lead sponsor anyways. 

actually this is another one you can blame on SCOTUS, but it was the Burger court. Ruled in 1978 that states could not prevent nationally chartered banks from charging higher rates than a state allowed by its own regs. Before that a lot of states had pretty reasonable caps. The problem in that era was that inflation was taking off, making the locally legislated caps a loser for the banks. And of course in 1978 credit cards didn't have nearly the market penetration they do now.

This is why if they do something it should be more nuanced than a simple caps on rates. If you cap them at say 10% and inflation goes about 7% no bank is going to offer you credit at that low a return and suddenly you have a big drag on the economy, If you cap the rate so high that the business/inflation cycle is never a problem, it's probably too high to give consumers any serious relief.

[Edman85]

https://www.washingtonpost.com/politics/2024/11/16/pete-hegseth-sexual-assault-accuser-paid/
 

[Deleterious]

Maybe they wouldn't need to lower CC interest rates if they educated the populace about the negative results of CC debt.  

[Mr.TaterSalad]

43 minutes ago, Deleterious said:

Maybe they wouldn't need to lower CC interest rates if they educated the populace about the negative results of CC debt.  

Good luck with that. They've created a consumer based economy and have marketed to people for decades that the ticket to having a good life is to buy more and save less. You can only keep up with the Jones' if you have the most and latest stuff. 

[Tiger337]

27 minutes ago, Mr.TaterSalad said:

Good luck with that. They've created a consumer based economy and have marketed to people for decades that the ticket to having a good life is to buy more and save less. You can only keep up with the Jones' if you have the most and latest stuff. 

That's what it's all about.  Selling stuff that people don't need to people who can't afford it.