I wonder who is funding all the negative adsSuperJail Warden wrote:
In NJ we have a ballot referendum whether to allow the construction of two casinos in northern New Jersey. It is expected to go down in defeat. I am happy about that. I think casinos hurt the poor and I don't want them to be more accessible.
How do you feel about casinos? Do you often go there? Do you gamble a lot? Would you be okay with one opening near you?
casinos are fucking greatSuperJail Warden wrote:
In NJ we have a ballot referendum whether to allow the construction of two casinos in northern New Jersey. It is expected to go down in defeat. I am happy about that. I think casinos hurt the poor and I don't want them to be more accessible.
How do you feel about casinos? Do you often go there? Do you gamble a lot? Would you be okay with one opening near you?
IIRC, Politico said the ads are being paid in large part by a Malaysian company that owns some New York casino.Jay wrote:
I wonder who is funding all the negative adsSuperJail Warden wrote:
In NJ we have a ballot referendum whether to allow the construction of two casinos in northern New Jersey. It is expected to go down in defeat. I am happy about that. I think casinos hurt the poor and I don't want them to be more accessible.
How do you feel about casinos? Do you often go there? Do you gamble a lot? Would you be okay with one opening near you?
But the idea is to pull people out of the city, not locals. And poor people buy scratch offs, they don't go to casinos. Casinos are mostly populated by granny's. Visit AC sometime. Bus after bus of grandma's.SuperJail Warden wrote:
IIRC, Politico said the ads are being paid in large part by a Malaysian company that owns some New York casino.Jay wrote:
I wonder who is funding all the negative adsSuperJail Warden wrote:
In NJ we have a ballot referendum whether to allow the construction of two casinos in northern New Jersey. It is expected to go down in defeat. I am happy about that. I think casinos hurt the poor and I don't want them to be more accessible.
How do you feel about casinos? Do you often go there? Do you gamble a lot? Would you be okay with one opening near you?
I wouldn't care if Putin himself ran ads against the casino. I think they exploit the poor and don't want northern Jersey poor people to have a place where they can blow all their money easily.
Depends on slot machines.SuperJail Warden wrote:
I don't care about tourist. Poor and lower income people are going to visit this Casino. This isn't isolated like AC is. Scratch offs and lottery tickets shouldn't be sold either.
Start with auto-lenders and pay day loans.SuperJail Warden wrote:
I think we have a responsibility to protect people from predatory business practices.
Payday loans are sometimes the only thing standing between people getting evicted or having their electricity shutoff. Yes, the interest rates are exorbitant, but so are the default rates. We're talking about people that don't have any savings, don't qualify for credit cards, and don't have any family members or friends that will loan to them. The problem is that they are already on the edge and by taking out a loan they are starting the next pay cycle in a hole that is very difficult to climb out of. I've been there. When I was in the army my bank allowed me to overdraft up to $100, so I always started every pay period minus $130 ($30 overdraft fee). When your paycheck is only $450 to begin with, it's really hard to dig yourself out. I did it to myself though, and have no one else to blame. I also had a car loan with a 17% interest rate that soaked up 1/3 of my pay. Tough life lessons, and it's ultimately what led to my interest in economics and finance.Cybargs wrote:
Start with auto-lenders and pay day loans.SuperJail Warden wrote:
I think we have a responsibility to protect people from predatory business practices.
It's not the level of interest I'm concerned about. It's not the interests in the loans I'm concerned about it, it's the downright misrepresentations that occur during those process' - Particularly in Car loans.Jay wrote:
Payday loans are sometimes the only thing standing between people getting evicted or having their electricity shutoff. Yes, the interest rates are exorbitant, but so are the default rates. We're talking about people that don't have any savings, don't qualify for credit cards, and don't have any family members or friends that will loan to them. The problem is that they are already on the edge and by taking out a loan they are starting the next pay cycle in a hole that is very difficult to climb out of. I've been there. When I was in the army my bank allowed me to overdraft up to $100, so I always started every pay period minus $130 ($30 overdraft fee). When your paycheck is only $450 to begin with, it's really hard to dig yourself out. I did it to myself though, and have no one else to blame. I also had a car loan with a 17% interest rate that soaked up 1/3 of my pay. Tough life lessons, and it's ultimately what led to my interest in economics and finance.Cybargs wrote:
Start with auto-lenders and pay day loans.SuperJail Warden wrote:
I think we have a responsibility to protect people from predatory business practices.
Anyway, if you tried to abolish the payday loans, or the usurious car loans, while the intentions are good, you might end up really hurting the people you're tying to help. Car dealers will disappear and the poor will have a harder time getting to work. When emergencies come up, they might be homeless instead of in debt.
I am pretty sure it is law that loans need to show how much a person is going to pay in total after interest is added. I know it is the law with student loans. My sister bought a car a few months back and in the loan agreement had how much she would pay with interest added to the loan.Cybargs wrote:
It's not the level of interest I'm concerned about. It's not the interests in the loans I'm concerned about it, it's the downright misrepresentations that occur during those process' - Particularly in Car loans.Jay wrote:
Payday loans are sometimes the only thing standing between people getting evicted or having their electricity shutoff. Yes, the interest rates are exorbitant, but so are the default rates. We're talking about people that don't have any savings, don't qualify for credit cards, and don't have any family members or friends that will loan to them. The problem is that they are already on the edge and by taking out a loan they are starting the next pay cycle in a hole that is very difficult to climb out of. I've been there. When I was in the army my bank allowed me to overdraft up to $100, so I always started every pay period minus $130 ($30 overdraft fee). When your paycheck is only $450 to begin with, it's really hard to dig yourself out. I did it to myself though, and have no one else to blame. I also had a car loan with a 17% interest rate that soaked up 1/3 of my pay. Tough life lessons, and it's ultimately what led to my interest in economics and finance.Cybargs wrote:
Start with auto-lenders and pay day loans.
Anyway, if you tried to abolish the payday loans, or the usurious car loans, while the intentions are good, you might end up really hurting the people you're tying to help. Car dealers will disappear and the poor will have a harder time getting to work. When emergencies come up, they might be homeless instead of in debt.
It's about informing people how much they really need to pay off to become debt free. Eg, my credit card fee statement states how much interest I would be paying if I only paid the minimum. That's an example of giving people an informed choice.
Already part of the contract.Cybargs wrote:
It's not the level of interest I'm concerned about. It's not the interests in the loans I'm concerned about it, it's the downright misrepresentations that occur during those process' - Particularly in Car loans.Jay wrote:
Payday loans are sometimes the only thing standing between people getting evicted or having their electricity shutoff. Yes, the interest rates are exorbitant, but so are the default rates. We're talking about people that don't have any savings, don't qualify for credit cards, and don't have any family members or friends that will loan to them. The problem is that they are already on the edge and by taking out a loan they are starting the next pay cycle in a hole that is very difficult to climb out of. I've been there. When I was in the army my bank allowed me to overdraft up to $100, so I always started every pay period minus $130 ($30 overdraft fee). When your paycheck is only $450 to begin with, it's really hard to dig yourself out. I did it to myself though, and have no one else to blame. I also had a car loan with a 17% interest rate that soaked up 1/3 of my pay. Tough life lessons, and it's ultimately what led to my interest in economics and finance.Cybargs wrote:
Start with auto-lenders and pay day loans.
Anyway, if you tried to abolish the payday loans, or the usurious car loans, while the intentions are good, you might end up really hurting the people you're tying to help. Car dealers will disappear and the poor will have a harder time getting to work. When emergencies come up, they might be homeless instead of in debt.
It's about informing people how much they really need to pay off to become debt free. Eg, my credit card fee statement states how much interest I would be paying if I only paid the minimum. That's an example of giving people an informed choice.
Then you create shortages.pirana6 wrote:
Enact a law with a max interest rate for loans depending on this or that
yes because contracts have never been misrepresented ever...Jay wrote:
Already part of the contract.Cybargs wrote:
It's not the level of interest I'm concerned about. It's not the interests in the loans I'm concerned about it, it's the downright misrepresentations that occur during those process' - Particularly in Car loans.Jay wrote:
Payday loans are sometimes the only thing standing between people getting evicted or having their electricity shutoff. Yes, the interest rates are exorbitant, but so are the default rates. We're talking about people that don't have any savings, don't qualify for credit cards, and don't have any family members or friends that will loan to them. The problem is that they are already on the edge and by taking out a loan they are starting the next pay cycle in a hole that is very difficult to climb out of. I've been there. When I was in the army my bank allowed me to overdraft up to $100, so I always started every pay period minus $130 ($30 overdraft fee). When your paycheck is only $450 to begin with, it's really hard to dig yourself out. I did it to myself though, and have no one else to blame. I also had a car loan with a 17% interest rate that soaked up 1/3 of my pay. Tough life lessons, and it's ultimately what led to my interest in economics and finance.
Anyway, if you tried to abolish the payday loans, or the usurious car loans, while the intentions are good, you might end up really hurting the people you're tying to help. Car dealers will disappear and the poor will have a harder time getting to work. When emergencies come up, they might be homeless instead of in debt.
It's about informing people how much they really need to pay off to become debt free. Eg, my credit card fee statement states how much interest I would be paying if I only paid the minimum. That's an example of giving people an informed choice.
Of what, money?Jay wrote:
Then you create shortages.pirana6 wrote:
Enact a law with a max interest rate for loans depending on this or that
usury laws are pree dumbDilbert_X wrote:
Of what, money?Jay wrote:
Then you create shortages.pirana6 wrote:
Enact a law with a max interest rate for loans depending on this or that
There should be a usury law, if only to bring the jews into line, but then Visa would be pissed so its not happening.
