"Encouraging consumers to buy luxuries on credit..." is very good business.

Flame » in reply to I'm not vilifying anybody.

alcaray — 10/3/2012 7:31:08 PM (archived)

Banks have made a fortune doing this since the BankAmericard was invented. It may not be ethical, but certainly it is profitable.

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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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