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Old 05-10-2018, 11:36 AM
 
17,634 posts, read 12,229,563 times
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Quote:
Originally Posted by Hoonose View Post
No, not those low rates. Rates over 10%, for instance some credit card rates.

You mean unsecured revolving credit lines? Aren’t we moving into a different conversation?
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Old 05-10-2018, 11:44 AM
 
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Quote:
Originally Posted by Hoonose View Post
No, not those low rates. Rates over 10%, for instance some credit card rates.
That’s another topic. The OP has stated he believes mortgage lending is highway robbery. Mostly based on his poor understanding of how it works and the rest just because that’s how he “feels”.
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Old 05-10-2018, 11:51 AM
 
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Quote:
Originally Posted by TaxPhd View Post
Tell us how this works. Be specific.
The Feds QE program resulted in huge excess bank reserves. And as there were not enough qualified borrowers since the crash, the vast majority of the money just sat/sits.

https://www.federalreserve.gov/monet...esbalances.htm
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Old 05-10-2018, 11:52 AM
 
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Quote:
Originally Posted by Lowexpectations View Post
You mean unsecured revolving credit lines? Aren’t we moving into a different conversation?
Sorry if I'm going off track.
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Old 05-10-2018, 11:56 AM
 
2,360 posts, read 1,031,855 times
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Quote:
Originally Posted by UNC4Me View Post
That’s another topic. The OP has stated he believes mortgage lending is highway robbery. Mostly based on his poor understanding of how it works and the rest just because that’s how he “feels”.
Didnt say highway robbery, but amount of money they are banking on interest is just painful to look at. I absolute hate things that wants to "bank" off interest on everything we buy. Borrowing/Lending and nearly paying double back the amount funded is just not right. If it wasnt for all the "extra" fees, a simple 100k house can be paid back quickly in a 15 year loan, but once you add all the BS fees your just in more debt longer, and that is what i have a problem with. ( in your case feel).

Back to the topic.. were consistently inflating prices for what reason? How about we just stop inflation all together?
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Old 05-10-2018, 12:04 PM
 
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Quote:
Originally Posted by hitpausebutton2 View Post
Didnt say highway robbery, but amount of money they are banking on interest is just painful to look at. I absolute hate things that wants to "bank" off interest on everything we buy. Borrowing/Lending and nearly paying double back the amount funded is just not right. If it wasnt for all the "extra" fees, a simple 100k house can be paid back quickly in a 15 year loan, but once you add all the BS fees your just in more debt longer, and that is what i have a problem with. ( in your case feel).

Back to the topic.. were consistently inflating prices for what reason? How about we just stop inflation all together?
I like 0%, as in my wife's Lincoln we bought back in 2015. Almost silly to pay cash.
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Old 05-10-2018, 12:06 PM
 
2,252 posts, read 1,393,549 times
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Quote:
Originally Posted by hitpausebutton2 View Post
Didnt say highway robbery, but amount of money they are banking on interest is just painful to look at. I absolute hate things that wants to "bank" off interest on everything we buy. Borrowing/Lending and nearly paying double back the amount funded is just not right. If it wasnt for all the "extra" fees, a simple 100k house can be paid back quickly in a 15 year loan, but once you add all the BS fees your just in more debt longer, and that is what i have a problem with. ( in your case feel).

Back to the topic.. were consistently inflating prices for what reason? How about we just stop inflation all together?

You’re free to loan your money out to others without charging interest.
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Old 05-10-2018, 12:26 PM
 
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Quote:
Originally Posted by Thatsright19 View Post
You’re free to loan your money out to others without charging interest.
Of course you are. But you are also not a bank that can create money. Risk to you is high if you don't have all the applicable information and collateral with your borrower. Much less risk for banks. Unless of course you got Leroy or Vito to lower your risk! lol
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Old 05-10-2018, 12:38 PM
 
3,568 posts, read 2,000,887 times
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Quote:
Originally Posted by hitpausebutton2 View Post
If your sitting on alot of money in the bank or couch, are you the partial reason for inflation?
Do you understanding market pricing and supply / demand basic assumptions?

If so what does the lack of consumption or demand have on prices.
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Old 05-10-2018, 12:45 PM
 
Location: Prepperland
13,127 posts, read 9,212,549 times
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Though classic inflation is defined as “too much money chasing too few goods,” the obvious fact that there is both inflation (or devaluation of the current money supply) and money scarcity (driving the demand for credit) as well as surplus labor (unemployed / underemployed), surplus productive capacity (closed retailers, closed factories) and unmet demand rebuts that assertion. Current inflation is a complex web of usury, socialism, and tax shift inflation from income taxation, as past tax bills are shifted into future retail prices.

However, keeping money tokens out of circulation by hoarding them defeats the purpose and function of money - a medium of exchange to facilitate trade when barter is insufficient.
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