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128
RWSGFY
2024 Oct 26, 9:29am
RWSGFY
2024 Oct 26, 9:29am
Writing off debt is already allowed. Cucker apparently wants government to cap the interest. These things don't work together without someone stepping in and compensating the loss from the artificially lowered rates with risks staying the same. And by someone we mean government, because who else. So basically he demands governmemt subsidies for "poor people". Which basically means further expansion of the wellfare state. Which is the epitomy of conservatism (sarcasm alert). 🤡
129
mell
2024 Oct 26, 9:49am
RWSGFY says
This is not a monetary subsidy such as money printing and bank bailouts. It's impact could be to deny people credit who are too high risk which may not be a bad thing. The banks only loan out money at 20%+ currently because they get max revenues when the party is good and get bailed out when it's bad. I'm fine with free market credit rates IF we abolish the FED today and banks have to get money from other banks and savers at free market rates. AND let states enforce their own usury laws if they have em, so banks can and will decide where to do business. That's more Libertarian a la Stossel and not conservative (Tucker), although there is a small govt by any means conservative wing. Stossel is also more aligned with big ag food and letting consimers decide if they want to consume it.
Writing off debt is already allowed. Cucker apparently wants government to cap the interest. These things don't work together without someone stepping in and compensating the loss from the artificially lowered rates with risks staying the same. And by someone we mean government, because who else. So basically he demands governmemt subsidies for "poor people". Which basically means further expansion of the wellfare state. Which is the epitomy of conservatism (sarcasm alert). 🤡
This is not a monetary subsidy such as money printing and bank bailouts. It's impact could be to deny people credit who are too high risk which may not be a bad thing. The banks only loan out money at 20%+ currently because they get max revenues when the party is good and get bailed out when it's bad. I'm fine with free market credit rates IF we abolish the FED today and banks have to get money from other banks and savers at free market rates. AND let states enforce their own usury laws if they have em, so banks can and will decide where to do business. That's more Libertarian a la Stossel and not conservative (Tucker), although there is a small govt by any means conservative wing. Stossel is also more aligned with big ag food and letting consimers decide if they want to consume it.
131
HeadSet
2024 Nov 5, 3:36pm
HeadSet
2024 Nov 5, 3:36pm
DemocratsAreTotallyFucked says
Yes, and those few women with paid off loans likely had payment help from hubby or daddy.
Yes, and those few women with paid off loans likely had payment help from hubby or daddy.
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As interest rates rise, the math says that it's better if invest any spare cash rather than pay down debt, which is at a low fixed rate (house, student loan, small car loan). However, particularly with the mortgage, there is something to be said for the peace of mind of having it behind me and owning my home outright. I'm fully funding my 401(k), and have a six month emergency fund, but until now, any "free cash" beyond that, I've been diverting to the mortgage. As I sit right now, the goal is have it paid off in the next 5 to 7 years. With high yield savings paying about 4% right now, that's a 1% spread relative to my 3% mortgage.
As much as I could try to invest in the market 1) I'm not that good, and 2) the market has more or less peaked, and I don't see another major bull market given that we are seeing the end of the "everything bubble". Once I own the house free and clear, then I'll have plenty of "play money" to invest or whatever and hopefully catch the next upswing.