djd09
Elite Member
- Joined
- May 20, 2009
- Professional Status
- Licensed Appraiser
- State
- Ohio
Ah, another classic !"I reject your premise" response—basically a way of saying, I don’t have a real counterargument, so I’ll just dismiss what you said outright.
Reject it all you want, but that doesn’t change reality. The modern U.S. economy is absolutely built on usury and debt dependence. Just look around—credit card interest rates at 30%, student loans people can’t escape even in bankruptcy, subprime auto loans trapping people in cycles of debt, and businesses more focused on stock buybacks (funded by cheap debt) than actual production. If that’s not an economy propped up by usury, then what is?
And your argument that banking and credit must work this way is just ideology talking. There’s a difference between productive lending—where capital funds real industry and innovation—and parasitic finance, where banks make money off endless fees, predatory lending, and speculation while wages stagnate. The fact that banks now make more off fees and interest than actual loans to businesses should tell you something.
But hey, at least you admit that bankers need regulation. Too bad Volcker’s policies laid the groundwork for the exact opposite—a deregulated financial system where banks became too big to fail and working people became too small to save.
Anyway, I appreciate the discussion. Good luck to you too—you’re gonna need it when the next debt bubble pops.
you forgot payday lenders...wear your mask
