Trickle up policy.

[The Rabbi]

Demand side policies fail 100% of the time.

 

[EdwardBaiamonte]

As allways , no proof, no links Baiamonte. Last I heard those suicides were created by Monsanto's copyrighted seeds and not by microloans per se.

dear, the point is that if someone could figure out how to make the iphone 6 plus someone could figure out how to make a $10 loan to his neighbor without liberal Nazis designing a Federal trickle up program.

Nice try, changing the subject to suicides to avoid growing up.

 

[EdwardBaiamonte]

Demand side policies fail 100% of the time.

exactly, there is nothing to demand until Republicans invent or supply things. Handing everyone $1 million welfare cash so they could demand $1million of new goods and services would not improve anyones standard of living one tiny bit.

a liberal will not have anywhere near the IQ to understand that but it is routine for a conservative or libertarian.

 

[CultureCitizen]

Nope sorry, Not everyone is too poor to buy anything. Your theory is deeply flawed and not based on reality. For evidence, I offer...history. Where were all the socialist programs that got this country started and propelled it to the world's powerhouse? Capitalism and the freemarket did that, not loaning money to dirt poor people. Go back to your bong and stupid commie websites.

True "not everyone is too poor to buy anything". Regardless there are about a billion people which are in such condition.
Microloans are particularly usefull for that segment of the population.
People who earn more thant $10 per day are not in extreme poverty and can probably get a regular loan.
The US wasn't so poor even when it became independent.

 

[EdwardBaiamonte]

People with no purchasing power do not constitute a market, period..

dear, the entire human race was dirt poor and lived at subsistence 2000 ago but a few had a slight surplus, i.e, purchasing power and they traded for a simple wooden plow (after a Republican finally invented one) not a John Deere tractor. Now you understand the nature of sustainable capitalist eeconomic growth that made America the greatest economic power in the history of the world in an instant!

A brainwashed Nazi Marxist can't improve the process with a big idea.

 

[EdwardBaiamonte]

[
That's why micro-loans are such a great idea,.

OMG what total liberal idiocy!! The iphone six plus was a good idea, a small loan to a neighbor was an idea that 10 billion human beings thought of and 5 billion could impliment and 1 billion probably did.

You are no better than a Nazi. You will believe anything told to you no matter how insane as long as it supports your psychological prejudices.

 

[EdwardBaiamonte]

People who earn more thant $10 per day are not in extreme poverty and can probably get a regular loan.

total ignorance!! making a loan is the simplist business in the world. there are billions who would do it no matter what the size of the loan as long as they are making money.

Culturefreak said he supports trickle up and now he's talking about tiny loans in third world countries? I wonder why he had to change subject?

 

[CultureCitizen]

total ignorance!! making a loan is the simplist business in the world. there are billions who would do it no matter what the size of the loan as long as they are making money.

Culturefreak said he supports trickle up and now he's talking about tiny loans in third world countries? I wonder why he had to change subject?

Indeed! There are many entrepreneurs who engage in micro loans.
They usually charge outrageous interest rates ( above 60%) . The policy part is concerned with regulating this interest rates.
The correct logistics allows for low interest rates, hence grameen bank has only a 5% default rate.

 

[EdwardBaiamonte]

They usually charge outrageous interest rates ( above 60%) . The policy part is concerned with regulating this interest rates.
The correct logistics allows for low interest rates, hence grameen bank has only a 5% default rate.

dear,
1) as a liberal you should ask questions, not make a constant fool of yourself
2) if one bank charges 60% and another 59% who is going to get the business?
3) the beauty of capitalism is that it drives prices down, not up. Get it?
4) do you know why you started thread on trickle up then switched to micro loans?
5) did China eliminate 40% of world poverty with micro loans or micro loans?? How uttlerly idiotic can you be??

 

[CultureCitizen]

1) as a liberal you should ask questions, not make a constant fool of yourself
2) if one bank charges 60% and another 59% who is going to get the business?
3) the beauty of capitalism is that it drives prices down, not up. Get it?
4) do you know why you started thread on trickle up then switched to micro loans?
5) did China eliminate 40% of world poverty with micro loans or micro loans?? How uttlerly idiotic can you be??

Reality contradicts your nice theory.
If so, how would you explain the existence of payday loans in the USA ?
It is not to big, but it is a 40 billion industry.

 

[EdwardBaiamonte]

If so, how would you explain the existence of payday loans in the USA ?

not sure what explaining you want????

 

[CultureCitizen]

If so, how would you explain the existence of payday loans in the USA ?

not sure what explaining you want????

Payday loans with high interests has become a 40 B industry in the USA.
If market regulates the interest rates, how did interests get so high and how did it become a 40 B industry ?

 

[EdwardBaiamonte]

, how did interests get so high?

dear, its like asking me how did the price of a car get so high. I'm not really in the business so cant say exactly what the costs of each component and business function is, etc etc. but we do know that millions of Americans have banking experience and would go into the loan business at 5% lower rates if they could turn a profit there. Do you understand? If you think its really bad well thank God we have have Republican capitalism so you can go into business,correct it, and make a fortune doing so.

This is Econ 101 class one, day one, minute one.

PS: every soul on Ring of Fire is an open communist. That means 100% stupid.

 

[jasonnfree]

I can remember when an above about 10% was usury. Don't know when it changed but it was probably banks buying politicians to change the law.

 

[EdwardBaiamonte]

I can remember when an above about 10% was usury. Don't know when it changed but it was probably banks buying politicians to change the law.

too stupid why don't you go into business, offer a lower rate, take away all their business, get rich , get famous, and be a hero in the eyes of God and man??? Do you now understand the beauty of capitalism.

In fact the liberal clown could locate right next to the payday loan folks and advertise 4% loans as opposed to their 300-500% loans!!

 

[CultureCitizen]

In fact the liberal clown could locate right next to the payday loan folks and advertise 4% loans as opposed to their 300-500% loans!!

This is indeed what the Grameen bank does. Republican disbelief notwithstanding

 

[EdwardBaiamonte]

In fact the liberal clown could locate right next to the payday loan folks and advertise 4% loans as opposed to their 300-500% loans!!

This is indeed what the Grameen bank does. Republican disbelief notwithstanding

dear, the payday loans you brought up are in USA, not Bangladesh!!!!! Can you tell us why 4% competition has not emerged to counter the 300-500% payday loans charge.

You only prove you are a typical liberal fool by trying to change the subject.

 

[The Rabbi]

In fact the liberal clown could locate right next to the payday loan folks and advertise 4% loans as opposed to their 300-500% loans!!

This is indeed what the Grameen bank does. Republican disbelief notwithstanding

dear, the payday loans you brought up are in USA, not Bangladesh!!!!! Can you tell us why 4% competition has not emerged to counter the 300-500% payday loans charge.

You only prove you are a typical liberal fool by trying to change the subject.

Those opposed to payday loans simply dont understand the market.

Let's say Im a working class guy. My car breaks down. I need $350 to fix it. Today. What are my options? Credit card? Nope. Bad credit. Bank loan? Gettouttatown! Banks wont deal with guys with bad credit. Pawn? That's 22% a month too.
Now, if I dont have a car, I cant get to work. If I dont work I dont earn money. If I dont earn money I cant pay rent or buy food. I will be on the street homeless and hungry unless I get that car fixed.
So what is it worth to have it fixed? $20? $40? The answer is basically whatever it takes. So if I have to pay $35 to have the money now rather than in 2 weeks that's well worth it.
People dont understand the issues here.

 

[SwimExpert]

as well as gather evidence that tricke up can be as effective as tricke down.

In other words, you want to prove that it's an abject failure?

 

[CultureCitizen]

dear, the payday loans you brought up are in USA, not Bangladesh!!!!! Can you tell us why 4% competition has not emerged to counter the 300-500% payday loans charge.

You only prove you are a typical liberal fool by trying to change the subject.

Because it is a market failure. It is the kind of problem that the market can't solve correctly.

Grameen is non profit and has had many donors, which have helped it thrive.
Fair microloans benefit many : the local business, the debtors and harm very few people : those practicing predatory leanding.

An interesting fact : 95% of grameen debtors are women.

There is a proposal to turn post offices into banks. I like it.