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06-07-2019, 12:14 PM
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#16
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,887
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Not saying banks are evil, but they are taking opportunities they should not be. Like selling bottled water for $10 a bottle in a disaster area, same thing.
We have laws about ticket scalping, but CCs go unchecked.
Not looking for a free ride for anyone, just an honest and fair chance. If they still don't take it and get ahead, then they brought it on themselves.
Maybe make CC interest hinged to annual income?
__________________
Who does the Racing Form Detective like in this one?
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06-07-2019, 12:34 PM
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#17
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Registered User
Join Date: Oct 2004
Posts: 14,036
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Quote:
Originally Posted by Saratoga_Mike
Snip
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So you're seeing the juice of the tax cuts and spending boost working their way through and a return to the normalized levels of the past few previous years?
Economy coming off of its sugar high and facing trade spats?
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06-07-2019, 01:30 PM
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#18
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Registered User
Join Date: May 2010
Posts: 5,005
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Quote:
Originally Posted by elysiantraveller
Economy coming off of its sugar high and facing trade spats?
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Thank you. Meant to put that in the topic lead-in but decided to adopt an "I report, you decide" approach. Beginning of the "not really all that great" economy?
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06-07-2019, 01:46 PM
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#19
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Veteran
Join Date: May 2014
Location: Lincoln, NE
Posts: 11,474
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Quote:
Originally Posted by elysiantraveller
So you're seeing the juice of the tax cuts and spending boost working their way through and a return to the normalized levels of the past few previous years?
Economy coming off of its sugar high and facing trade spats?
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Trade spats?
China has been blatantly taking advantage of America for a couple of decades. I guess we should just 'Obama' and do nothing per normal, right?
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06-07-2019, 02:08 PM
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#20
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Registered User
Join Date: Dec 2011
Posts: 4,285
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Quote:
Originally Posted by Tom
My thinking is the vast majority of people will not need to borrow with the burden erased. and with CC harder to get and with limits, it could last. Banks have been preditating on people for years with ursurous interest rates. the purpose of banks originally was to serve people, and the need to get back to that......
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So the only reason people need to borrow is because they have the burden of paying for what they borrowed? Many people run up debt for crap they don't need. Many people drive cars they can ill afford, spend lavishly on vacations and entertainment and then wonder why they have so much debt and no savings. The banks are hardly at fault for the consumers behavior.
As for interest rates, yes they are high and the default rate is also high. If the rates are too high and the banks are reaping outlandish profits why wouldn't new lenders come in and offer much lower rates and just make a reasonable profit?
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Best writing advice ever received: Never use a long word when a diminutive one will suffice.
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06-07-2019, 02:12 PM
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#21
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Registered User
Join Date: Dec 2011
Posts: 4,285
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Quote:
Originally Posted by Ocala Mike
Thank you. Meant to put that in the topic lead-in but decided to adopt an "I report, you decide" approach. Beginning of the "not really all that great" economy?
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Record high employment for minorities and women with wages rising in those categories as well. Does that make for a not so great economy?
__________________
Best writing advice ever received: Never use a long word when a diminutive one will suffice.
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06-07-2019, 02:19 PM
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#22
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Registered User
Join Date: Oct 2004
Posts: 14,036
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Quote:
Originally Posted by AndyC
Record high employment for minorities and women with wages rising in those categories as well. Does that make for a not so great economy?
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It's a bigger macro level issue and I think SM hit it on the head pretty well.
Low unemployment is great but on the flip side a lot of money was freed up, corporations are debt laden, there is a worker shortage as our workforce is still aging.
All those great indicators have underpinnings that aren't great. We still only managed 3% growth.
In your previous post you discussed consumer habits. I think on a macro level the economy is still strong but with some endemic unhealthiness.
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06-07-2019, 02:21 PM
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#23
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Registered User
Join Date: Oct 2004
Posts: 14,036
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Quote:
Originally Posted by Lemon Drop Husker
Trade spats?
China has been blatantly taking advantage of America for a couple of decades. I guess we should just 'Obama' and do nothing per normal, right?
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I don't want to pollute this thread with tariff talk... there is plenty of other places for it.
Tariffs cause economic pain plain and simple... that's not a partisan, nationalist, or political take.
Economies have to react to them.
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06-07-2019, 02:29 PM
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#24
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Veteran
Join Date: May 2014
Location: Lincoln, NE
Posts: 11,474
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Quote:
Originally Posted by elysiantraveller
I don't want to pollute this thread with tariff talk... there is plenty of other places for it.
Tariffs cause economic pain plain and simple... that's not a partisan, nationalist, or political take.
Economies have to react to them.
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Good grief.
China tariffs US products all over the board. I guess you are fine with those, right?
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06-07-2019, 05:41 PM
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#25
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Registered User
Join Date: Dec 2011
Posts: 4,285
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Quote:
Originally Posted by elysiantraveller
It's a bigger macro level issue and I think SM hit it on the head pretty well.
Low unemployment is great but on the flip side a lot of money was freed up, corporations are debt laden, there is a worker shortage as our workforce is still aging.
All those great indicators have underpinnings that aren't great. We still only managed 3% growth.
In your previous post you discussed consumer habits. I think on a macro level the economy is still strong but with some endemic unhealthiness.
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Low unemployment has not been driven by the labor participation rate which has been pretty steady for the last several years. An aging population will certainly take its toll on several fronts.
Corporate debt can be a huge bonus or a big negative based on the utilization of funds. With a good economy and low interest rates issuing bonds is a great move for companies with the ability to leverage their earnings.
__________________
Best writing advice ever received: Never use a long word when a diminutive one will suffice.
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06-07-2019, 08:55 PM
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#26
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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Credit cards are fine and necessary as long as the interest rates are reasonable.
If you want to eliminate something that will keep countless thousands, maybe even millions of people out of unrepayable debt eliminate cash advances.
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06-07-2019, 09:09 PM
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#27
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Veteran
Join Date: May 2014
Location: Lincoln, NE
Posts: 11,474
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Quote:
Originally Posted by barn32
Credit cards are fine and necessary as long as the interest rates are reasonable.
If you want to eliminate something that will keep countless thousands, maybe even millions of people out of unrepayable debt eliminate cash advances.
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Exactly.
You want to call out those that prey on the poor, just look at your Cash Advance places. Legalized loan sharks.
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06-07-2019, 09:31 PM
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#28
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Registered User
Join Date: Oct 2004
Posts: 14,036
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Quote:
Originally Posted by AndyC
Low unemployment has not been driven by the labor participation rate which has been pretty steady for the last several years. An aging population will certainly take its toll on several fronts.
Corporate debt can be a huge bonus or a big negative based on the utilization of funds. With a good economy and low interest rates issuing bonds is a great move for companies with the ability to leverage their earnings.
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I agree on both...
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06-08-2019, 01:16 AM
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#29
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Just another Facist
Join Date: Mar 2002
Location: Now in Houston
Posts: 52,808
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Here in Texas, if you don't have a job.......and want one. You are comatose.
We are beyond full employment.........
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