There is no stopping Trump. Now, he's taking the handcuffs off the banks and going after the Fed.

[RandomPoster]

"A federal banking agency announced Wednesday that it plans to roll back Obama-era restrictions on payday and vehicle title loans"

Trump administration will roll back Obama-era restrictions on payday lenders

Additionally, Trump is pressuring the Fed to cut interest rates from 2.5% to .25%. These two thing combined could really make our economy take off. The Federal Reserve caused the Great Depression with their beaurocratic meddling and has been a disaster for our economy ever since it was created. It needs to go. They're hurting the country again.

MAGA!

 

[occupied]

So what you are saying is that Trump is going to make America Great by giving the banking lobby everything they want?

 

[Crepitus]

"A federal banking agency announced Wednesday that it plans to roll back Obama-era restrictions on payday and vehicle title loans"

Trump administration will roll back Obama-era restrictions on payday lenders

Additionally, Trump is pressuring the Fed to cut interest rates from 2.5% to .25%. These two thing combined could really make our economy take off. The Federal Reserve caused the Great Depression with their beaurocratic meddling and has been a disaster for our economy ever since it was created. It needs to go. They're hurting the country again.

MAGA!

You cut interest rates when the economy is bad. It would be incredibly stupid to cut them now.

 

[RandomPoster]

So what you are saying is that Trump is going to make America Great by giving the banking lobby everything they want?

The banks help people by lending them the money they need when they need it. Bankers are more beneficial to society and are more aptly described as public servants than government officials are.

 

[Lesh]

So what you are saying is that Trump is going to make America Great by giving the banking lobby everything they want?

And screwing over the poor...including the military guys

Anyone who has ever been in or around the military knows how much they use these payday lenders...and get screwed by them

What they are rolling back are mandates that the lenders explicitly explain their usury rates and practices.

 

[Lesh]

The banks help people by lending them the money they need when they need it.

At rates of like 520% APR.

Oh...

If that ain't loan sharking I don't know what is

 

[RandomPoster]

The banks help people by lending them the money they need when they need it.

At rates of like 520% APR.

Oh...

If that ain't loan sharking I don't know what is

If we're going to go off on a tangent regarding illegal lenders, I've never sympathized with the poor, innocent little victims of loan sharks. What did you think was going to happen when you searched out some shady character in some underground shithole and begged him to lend you a large sum of cash with no money down, no collateral, and no demonstrable means of paying it back at 100% interest and then didn't pay it back?

 

[occupied]

So what you are saying is that Trump is going to make America Great by giving the banking lobby everything they want?

The banks help people by lending them the money they need when they need it. Bankers are more beneficial to society and are more aptly described as public servants than government officials are.

You remember that unpleasant episode in 2008 where nearly all of us went broke? Fucking bankers do that again they will be hanging from lamp posts. Letting them run wild may the worst idea ever.

 

[Luddly Neddite]

So what you are saying is that Trump is going to make America Great by giving the banking lobby everything they want?

And screwing over the working class, working poor and poor.

OP doesn't seem to realize that this is just one more time that magat is taking from the poor to give to the 1%.

 

[Lesh]

The banks help people by lending them the money they need when they need it.

At rates of like 520% APR.

Oh...

If that ain't loan sharking I don't know what is

If we're going to go off on a tangent regarding illegal lenders, I've never sympathized with the poor, innocent little victims of loan sharks. What did you think was going to happen when you searched out some shady character in some underground shithole and begged him to lend you a large sum of cash with no money down, no collateral, and no demonstrable means of paying it back at 100% interest and then didn't pay it back?

Ya mean like that married broke Marine private who breaks down on his way to formation? He borrows $200 bucks to get his car towed and get a ride to base and now he's got to pay that back QUICK or the cost piles up.

If he ends up carrying that loan over a year that 200 bucks ends up being $720

It would be nice if he knew going in how expensive it could get. It would be even better if that loan shark rate were illegal

 

[Faun]

"A federal banking agency announced Wednesday that it plans to roll back Obama-era restrictions on payday and vehicle title loans"

Trump administration will roll back Obama-era restrictions on payday lenders

Additionally, Trump is pressuring the Fed to cut interest rates from 2.5% to .25%. These two thing combined could really make our economy take off. The Federal Reserve caused the Great Depression with their beaurocratic meddling and has been a disaster for our economy ever since it was created. It needs to go. They're hurting the country again.

MAGA!

Fucking stupid. If you cut the interest rates to their lowest possible level... what’s your plan to pull the economy out of a crater when the economy collapses?

 

[RandomPoster]

So what you are saying is that Trump is going to make America Great by giving the banking lobby everything they want?

The banks help people by lending them the money they need when they need it. Bankers are more beneficial to society and are more aptly described as public servants than government officials are.

You remember that unpleasant episode in 2008 where nearly all of us went broke? Fucking bankers do that again they will be hanging from lamp posts. Letting them run wild may the worst idea ever.

That was your beloved regulations forcing banks to give out loans they would have rejected. The banks should be free to reject bad loan propositions. Deregulation is always the answer economically.

 

[Oddball]

"A federal banking agency announced Wednesday that it plans to roll back Obama-era restrictions on payday and vehicle title loans"

Trump administration will roll back Obama-era restrictions on payday lenders

Additionally, Trump is pressuring the Fed to cut interest rates from 2.5% to .25%. These two thing combined could really make our economy take off. The Federal Reserve caused the Great Depression with their beaurocratic meddling and has been a disaster for our economy ever since it was created. It needs to go. They're hurting the country again.

MAGA!

He should demand that the Fed be audited.

 

[RandomPoster]

So what you are saying is that Trump is going to make America Great by giving the banking lobby everything they want?

And screwing over the poor...including the military guys

Anyone who has ever been in or around the military knows how much they use these payday lenders...and get screwed by them

What they are rolling back are mandates that the lenders explicitly explain their usury rates and practices.

Trump has increased military pay. I'd rather have a pay raise than a loan.

 

[Dont Taz Me Bro]

The banks help people by lending them the money they need when they need it.

At rates of like 520% APR.

Oh...

If that ain't loan sharking I don't know what is

Nobody is forced to go to a payday loan center.

 

[RandomPoster]

So what you are saying is that Trump is going to make America Great by giving the banking lobby everything they want?

And screwing over the working class, working poor and poor.

OP doesn't seem to realize that this is just one more time that magat is taking from the poor to give to the 1%.

The banks help people by lending them the money they need when they need it.

At rates of like 520% APR.

Oh...

If that ain't loan sharking I don't know what is

If we're going to go off on a tangent regarding illegal lenders, I've never sympathized with the poor, innocent little victims of loan sharks. What did you think was going to happen when you searched out some shady character in some underground shithole and begged him to lend you a large sum of cash with no money down, no collateral, and no demonstrable means of paying it back at 100% interest and then didn't pay it back?

Ya mean like that married broke Marine private who breaks down on his way to formation? He borrows $200 bucks to get his car towed and get a ride to base and now he's got to pay that back QUICK or the cost piles up.

If he ends up carrying that loan over a year that 200 bucks ends up being $720

It would be nice if he knew going in how expensive it could get. It would be even better if that loan shark rate were illegal

The bank did not cause his car to break down, nor does it force him to take the loan or prevent him from calling a friend to ask for a ride.

 

[BlackFlag]

Republicans have almost managed to make robber barons into heroes again

 

[RandomPoster]

Most people these days seem to define a public servant as someone employed by the government. By that definition, the tax collector who knocks on your door and takes your money without your consent is a public servant, whereas the banker who you had to seek out and ask to lend you money in a time of need to alleviate problems that he did not create is not a public servants, except someone to be maligned as a greedy capitalist if he in any way profits from the mutual transaction that both parties agreed to and was initiated at your request.

 

[McRocket]

"A federal banking agency announced Wednesday that it plans to roll back Obama-era restrictions on payday and vehicle title loans"

Trump administration will roll back Obama-era restrictions on payday lenders

Additionally, Trump is pressuring the Fed to cut interest rates from 2.5% to .25%. These two thing combined could really make our economy take off. The Federal Reserve caused the Great Depression with their beaurocratic meddling and has been a disaster for our economy ever since it was created. It needs to go. They're hurting the country again.

MAGA!

No offense, but you do not seem to fully understand how macroeconomics works.

Trump got it right during the campaign. He knew that too low interest rates creates a huge bubble:



But now that he is power, he wants the Fed to keep that 'big, fat ugly' bubble inflated - which he (rightly) said during the campaign was a terrible mistake.


Look at historic interest rates:

United States Prime Rate History

They are still way below historical norms (since the 1950's).


If the economy needs ultra low interest rates to grow - than the economy is NOT a healthy one. PERIOD. Ultra low interest rates are a crutch - not a staple.