Trump proposes PRICE CONTROLS now w/cap for credit cards

[progressive hunter]

Credit cards serve a purpose. And yes, they should be regulated. And so should many other businesses. It's just that credit cards directly effect you that you agree there should be regulations. Other regulations that you can't see any direct consequence, eh not so much. Even though they do affect your life. Now please continue with your speech about how you believe in regulating businesses.

their main purpose is to make the banker richer,,

 

[john doe 101]

their main purpose is to make the banker richer,,

Are you saying businesses should not be able to make a profit and that people shouldnt be able to prosper. Why you sound like what do people like you call them.....oh yeah A COMMIE.

 

[Billiejeens]

their main purpose is to make the banker richer,,

Isn't that why people invest in business though, to make money?

 

[g5000]

credit cards have destroyed more lives and families than just about anything else,,

Then don't use them.

It's a free county.

 

[g5000]

Clear as day. The dude is just rambling but in his ramble Trump basically proposes what Harris was accused of proposing. She didn’t.

She opposes price gouging in emergencies and illegal collusion on pricing.

Capping credit card interest @ 10% is straight up price control. Would bankrupt companies too.

Sure, Donald, let’s cap interest rates - Kevin Drum

Sigh. It just doesn't matter what he says, does it? Most likely nobody will bother reporting this. Banks won't bother protesting it. Wonky bloggers like me won't bother explaining why Trump can't do it. Conservatives will mostly ignore the fact that this really is socialism, far worse than Kamala Harris's trivial price gouging proposal. In fact, just the opposite: His enablers will suddenly produce a spate of explanations for why it's a brilliant, far-reaching, and conservative proposal.

Stuff like this is a product of intersectionality: Trump is both mentally declining and willing to say any weird thing that pops into his fevered brain. Everyone knows it, so nobody takes anything he says seriously. He's treated like a five-year-old running for president.

Trump once again proves me right that he is a far left New York limousine liberal.

 

[AzogtheDefiler]

Why not just cap gas at $2?

I am Not an expert on usury rules. Usually states can get around it. Curious how he accomplishes this. I think Usury rates are anything above 18% now

 

[progressive hunter]

Isn't that why people invest in business though, to make money?

theres a difference between making a product or service that benefits peoples lives and this hat has only had negative effects on people and families while making the filthy rich richer,,

what would the negative effect of setting low interest rates??

 

[john doe 101]

Trump once again proves me right that he is a far left New York limousine liberal.

I'd love it if someone ask him the methodology he used to come up with that 10% figure. But as usual the press lets trump off the hook.

 

[g5000]

If Trump proposed universal health care, exactly two milliseconds later his entire cult would turn their brains inside out to find a reason to back him 100 percent.

 

[john doe 101]

theres a difference between making a product or service that benefits peoples lives and this hat has only had negative effects on people and families while making the filthy rich richer,,

what would the negative effect of setting low interest rates??

Because consumer debt would balloon to astronomically higher levels than the astronomically high levels they currently are at. Jesus.

 

[22lcidw]

Clear as day. The dude is just rambling but in his ramble Trump basically proposes what Harris was accused of proposing. She didn’t.

She opposes price gouging in emergencies and illegal collusion on pricing.

Capping credit card interest @ 10% is straight up price control. Would bankrupt companies too.

Sure, Donald, let’s cap interest rates - Kevin Drum

Sigh. It just doesn't matter what he says, does it? Most likely nobody will bother reporting this. Banks won't bother protesting it. Wonky bloggers like me won't bother explaining why Trump can't do it. Conservatives will mostly ignore the fact that this really is socialism, far worse than Kamala Harris's trivial price gouging proposal. In fact, just the opposite: His enablers will suddenly produce a spate of explanations for why it's a brilliant, far-reaching, and conservative proposal.

Stuff like this is a product of intersectionality: Trump is both mentally declining and willing to say any weird thing that pops into his fevered brain. Everyone knows it, so nobody takes anything he says seriously. He's treated like a five-year-old running for president.

This is not price controls. Those interest rates are blatant rip offs. You would find a lot of people in agreement. Perhaps there are dead beats not paying the off. Frankly, we need the cards to much of how we live today.

 

[progressive hunter]

Because consumer debt would balloon to astronomically higher levels than the astronomically high levels they currently are at. Jesus.

how??

if rates were low they would be able to pay off the debt faster,,

 

[g5000]

theres a difference between making a product or service that benefits peoples lives and this hat has only had negative effects on people and families while making the filthy rich richer,,

what would the negative effect of setting low interest rates??

You know what you should do?

You should start your own credit card company and undercut all the others and put them out of business.

Capitalism, yeah baby!

 

[progressive hunter]

You know what you should do?

You should start your own credit card company and undercut all the others and put them out of business.

Capitalism, yeah baby!

government wont allow it,,

as we speak banks are closing at higher rates thn ever before because of regulations,,

 

[john doe 101]

how??

if rates were low they would be able to pay off the debt faster,,

If rates were lower they'd borrow more.

 

[progressive hunter]

If rates were lower they'd borrow more.

exactly,,

that would be a good thing wouldnt it??

 

[john doe 101]

exactly,,

that would be a good thing wouldnt it??

No, it wouldnt.

 

[progressive hunter]

No, it wouldnt.

didnt you just say credit is good and people need it for emergency medical reasons??

people could even be able to buy bigger houses that couldnt before

 

[Dont Taz Me Bro]

credit cards have destroyed more lives and families than just about anything else,,

so if this will get rid of them is a good thing

regulating private bankers that prey on and profit off the people isnt socialism,, its common sense

Cutting credit card interest rates from 90% to 45%

Socialism?

I remember a time when people convicted of loan sharking would have time tacked on (enhanced charge) if they were charging more than 25% interest.

Today:

The average credit card interest rate is 27.80%, according to Forbes Advisor’s weekly credit card rates report.

Damn, I'd hate to see the higher end rates!

Blah, I don't have any answers to all of that but if CC companies were banned altogether the country would be far better off for it.

Did you listen to him?.... or just see the title and posted it?....
He said place a cap on interest rates for credit cards which are four and five times the nations interest rate...
Banks have been ripping borrowers off for years... this is a good thing and its nothing like what Kamala proposed....

What a weird weird article claiming CC debt isn't a real problem, right now:

Americans continue to rack up credit card debt, hitting a record $1.14 trillion​

The Wall Street prostitutes (aka DemoKKKrats) are definitely not going to like anything that impacts the profits of the billionaire banks.

For years I ran a balance, ironically the pandemic made me stay home and do nothing and led me to clearing my debt.

Interest rate caps aren't price controls, they may or may not be government overreach, but they aren't price controls.

This is not price controls. Those interest rates are blatant rip offs. You would find a lot of people in agreement. Perhaps there are dead beats not paying the off. Frankly, we need the cards to much of how we live today.

 

[Billiejeens]

theres a difference between making a product or service that benefits peoples lives and this hat has only had negative effects on people and families while making the filthy rich richer,,

what would the negative effect of setting low interest rates??

Same as every time the left meddles in the free market

It would start with higher fees.......

(credit is not inherently bad)