Like I said, credit is not evil, it is just easily abused, by both borrower and lender.

Flame » in reply to A lot of truth but banks allow us to pay over time. We voluntarily enter into contract to finance houses and businesses. I wouldn't want save and wait 30 years to buy a house. n/t

ER — 10/3/2012 2:56:53 PM (archived)

Like I said, credit is not evil, it is just easily abused, by both borrower and lender.

But borrower abuse only hurts him. Lender abuse can hurt many. When finance capital abuses the system, even people who never borrow or loan can be ruined.

The whole thread (36 posts)

An essay on finance capital - ER - 10/3/2012 1:42:47 PM
- Real capitalists. - SDAI-Tech - 10/4/2012 12:39:23 AM
- In the first part you left out something. - alcaray - 10/3/2012 7:09:07 PM
  - Google QE3, see what you think n/t - RobVG - 10/4/2012 12:38:03 AM
    - I think it does not have anything to do with the fact I related. - alcaray - 10/4/2012 5:50:19 AM
      - I thought you were talking about the Fed feeding money into the economy. - RobVG - 10/4/2012 3:35:58 PM
        
        Well, it is a completely different tool. - alcaray - 10/4/2012 6:56:23 PM
        
        You have me confused for an antagonist. I'll leave you be... n/t - RobVG - 10/5/2012 2:29:45 AM
        
        I really wasn't trying to sound antagonistic. I am bewildered. - alcaray - 10/5/2012 3:39:34 AM
        
        No problem. Sometimes I just want to talk economics with someone. - RobVG - 10/5/2012 4:14:19 PM
        
        So you want to discuss QE, then. - alcaray - 10/5/2012 8:45:25 PM
        
        I know what you mean - Robert - 10/5/2012 5:47:40 PM
        
        I think it's all Tom's fault. - RobVG - 10/6/2012 12:03:31 AM
  - It's turtles all the way down - Robert - 10/3/2012 7:55:48 PM
    - Yes, and Hamilton's thinking was dead wrong. - TB - 10/4/2012 6:28:35 PM
      - I have read the Founders, TB. I have read Hamilton, TB. And you, TB, are no Founder - Robert - 10/4/2012 10:52:24 PM
        
        Talk to 16th century Spain for pointers on how trouble-free the gold standard is. (or the Hunt brothers) - alcaray - 10/5/2012 6:06:05 PM
        
        Oh, sorry. - TB - 10/4/2012 11:42:19 PM
        
        Here's something interesting: - alcaray - 10/5/2012 6:19:37 PM
        
        Re: Oh, sorry. - Jody - 10/5/2012 12:04:04 AM
    - Once you go beyond the barter system, it's a natural progression that governments all over the world have felt their way through for many centuries. - alcaray - 10/3/2012 8:41:12 PM
  - It had something to do with the Andrew Jackson Administration, didn't it?. - ER - 10/3/2012 7:17:50 PM
    - Honestly, I don't know. - alcaray - 10/3/2012 7:23:58 PM
- Control and abuse - TB - 10/3/2012 4:24:11 PM
  - Never have I seen you argue for regulation. - alcaray - 10/3/2012 7:16:51 PM
  - Don't know much 'bout economee... - ER - 10/3/2012 7:13:39 PM
    - Someone needs to install a fusible link. n/t - RobVG - 10/5/2012 2:43:17 AM
    - Re: Don't know much 'bout economee... - Jody - 10/4/2012 9:55:07 AM
    - Holy cripes, you went there. - alcaray - 10/3/2012 7:18:42 PM
- A lot of truth but banks allow us to pay over time. We voluntarily enter into contract to finance houses and businesses. I wouldn't want save and wait 30 years to buy a house. n/t - RobVG - 10/3/2012 2:52:30 PM
  - Another way to look at this that's closer to your pov. - RobVG - 10/3/2012 3:05:34 PM
    - You might want to look at the money you spent on rent. It should probably be added to the cost of the home with interest forgone. - RobVG - 10/3/2012 3:41:15 PM
      - I'm not vilifying anybody. - ER - 10/3/2012 6:40:49 PM
        
        "Encouraging consumers to buy luxuries on credit..." is very good business. - alcaray - 10/3/2012 7:31:08 PM
        
        What's profitable isn't always ethical. - ER - 10/3/2012 8:14:52 PM
  - Like I said, credit is not evil, it is just easily abused, by both borrower and lender. - ER - 10/3/2012 2:56:53 PM

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