Earlier quoted context omitted.
I think being really broke greatly hinders your ability to think rationally. I never committed any violent crimes, but I know throughout most of 2016 I was really really broke (about $15,000 credit card debt, 3 months of unpaid rent, a lawsuit from my landlord for the back rent). In the process I debated reaching out to one of those payday loan places, despite the fact that I knew they were scams. My desperate brain…
> In the process I debated reaching out to one of those payday loan places, despite the fact that I knew they were scams. Because they're not, the idea that they are is paternalistic bullshit from the kind of people who get their news from John Oliver. Debt can be dangerous, and payday loans are commensurately more so due to their high rates. But debt is a _tool_, and just like middle- and upper-income folks can use…
Not sure where you get your news/experience from ;), but I don't see how any of those arguments apply to payday loan places - in every country, city, society I've lived in, they a) were shut down for fraud and exploitation anytime anybody bothered to look & investigate b) are universally demonstrated and proven to prey upon those who can least afford it. These are not benevolent capitalists trying to help those who nobody else would help - the owners are shameless sharks exploiting and manipulating people into a vicious cycle.
(FWIW I'm not going to downvote, I actually upvoted - your perspective is interesting and must as I may disagree I'd like to hear more and maybe be educated, rather than shut the debate down; but I'd like to see some "counter-John-Oliver" studies and stats to go against the ones I think most of us have seen)
Edit: I mean heck, like with smoking, government here will try their best to talk you out of it; you can still do it, as an adult human being... but it's just a bad, bad idea
https://www.canada.ca/en/financial-consumer-agency/services/...