Earlier quoted context omitted.
> 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…
Spoken like someone who has never lived paycheck to paycheck and been caught in a debt spiral. You are correct, not having access to credit is a bad thing. But having access to predatory credit is a WORSE thing. There's a reason we outlawed indentured slavery and "company scrip", and payday loans are a half a step up from that situation.
https://news.ycombinator.com/newsguidelines.html
* well, the guidelines do also ask not to use allcaps for emphasis, but that's minor