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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”.
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.
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?
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.
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.
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
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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