41–46 of 46 posts
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Debt forgiveness might be more palatable if it is accompanied by changes to the system that allowed an unsustainable amount of debt to be generated in the first place.
A recurring debt forgiveness schedule would do just that. If all debts expired after 10 years lenders would be much more cautious.
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> he admitted he knew what they were doing, but had an insane burn rate (wife, kids, expensive house and shit) so he couldn't just quit. A core belief I have, and I try to spread it where possible, is that a person owes it to themselves and to those around them to live in such a way that they have personal freedom. This is precisely the way in which debt is pernicious. This man is trapped in a debt cycle - just as th…
These entities are very much like hostile AIs, or at least the closest we have to them in our world. Since solid state AI is not yet good enough, they use tactics like the ones you describe to assimilate meat brains and use them as components. The whole financial industry seems very much like this. There are all these conspiracy theories that propose that someone -- some group of actual humans -- is on top, but look…
The remaining problems are the hard ones. No surprise they are hard to solve. Ones that can be solved with our current intelligence already have a known solution.
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That's not really so. If you have a bunch of bad luck in one month, you sometimes need a line of credit to get to the next. Did you have a flat tire? Did the baby need three trips to the doctor because of croup? Banks exist to make our life better when we need extra spending cash. If we ban lending to the poor than it will be one more thing that only the rich will have. I agree that the lending rates are insanely hig…
>you sometimes need a line of credit to get to the next Not in a society that looks after it's people. >Did you have a flat tire? Did the baby need three trips to the doctor because of croup? You shouldn't be paying for healthcare, guaranteed minimum income and social connections should suffice for the other stuff. >If we ban lending to the poor than it will be one more thing that only the rich will have. We shouldn'…
We brought it back because it’s useful for finding business enterprises - then they looked at private individuals and businesses wondered why they couldn’t expand into those markets too - and here we are
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That's not really so. If you have a bunch of bad luck in one month, you sometimes need a line of credit to get to the next. Did you have a flat tire? Did the baby need three trips to the doctor because of croup? Banks exist to make our life better when we need extra spending cash. If we ban lending to the poor than it will be one more thing that only the rich will have. I agree that the lending rates are insanely hig…
Uh, car loans are below 2% only for people like you and me with excellent credit scores. "The other half" can only get financing directly from shady used car lots, where good luck even getting them to tell you the interest rate (or the purchase price) -- they focus instead on the monthly payment (and try to downplay the fact that it's for 72 months).
And, yes, the rates do go up for people with a bad credit history. You can call them "the other half" but the simplest way for you to demonstrate your devotion to helping them is to quit writing comments and go lend your retirement savings to them. You seem to imply the banks are just overcharging out of some evil motive. Now is your chance to prove how wrong they are by cashing out your trust fund (you sound like a trustafarian) and loaning it out at "fair" rates.
Just remember that every default by "the other half" destroys hard earned capital of retirees. The low rates really hurt the older savers. They're part of the "other half" too.
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>you sometimes need a line of credit to get to the next Not in a society that looks after it's people. >Did you have a flat tire? Did the baby need three trips to the doctor because of croup? You shouldn't be paying for healthcare, guaranteed minimum income and social connections should suffice for the other stuff. >If we ban lending to the poor than it will be one more thing that only the rich will have. We shouldn'…
We already banned interest, it’s even criticized in the Bible We brought it back because it’s useful for finding business enterprises - then they looked at private individuals and businesses wondered why they couldn’t expand into those markets too - and here we are
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>you sometimes need a line of credit to get to the next Not in a society that looks after it's people. >Did you have a flat tire? Did the baby need three trips to the doctor because of croup? You shouldn't be paying for healthcare, guaranteed minimum income and social connections should suffice for the other stuff. >If we ban lending to the poor than it will be one more thing that only the rich will have. We shouldn'…
> We shouldn't ban lending to the poor, we should ban lending with interest period. This is the worst opinion I have ever read on HN.
https://www.coindesk.com/sharia-goldbugs-how-isis-created-a-...