goldfly
<B>if my thought dreams could be seen</B>
I'm not even accusing you of being in a cult
you're in a cult
but your reply (that I quoted) doesn't say what you said and it doesn't disagree with what I actually said
Economics Thread
- Thread starter sturg33
- Start date
I'm not even accusing you of being in a cult
you're in a cult
but your reply (that I quoted) doesn't say what you said and it doesn't disagree with what I actually said
Yeah, just because i mocked Colbert with his ridiculous TDS statements I'm now in a cult.
You really do have **** for brains.
acesfull86
Well-known member
cajunrevenge
Well-known member
Thats something I would actually give credit to Trump for. He is good at marketing and censoring his own party so they only say good things about him and his results. Any dared to criticize anything and he started a blood feud over it and his supporters treated them like they were a RINO no matter what their voting record was. Say what you will about that strategy but it worked.
acesfull86
Well-known member
https://www.wsj.com/articles/credit-card-late-payment-fees-consumer-financial-protection-bureau-rule-rohit-chopra-joe-biden-108d41a3?mod=hp_opin_pos_1
The CFPB’s rule slashes the cap to $8 and eliminates the annual inflation adjustment. Yet as even the CFPB acknowledges, the lower penalty may cause more borrowers to pay late, and as a result incur higher “interest charges, penalty rates, credit reporting, and the loss of a grace period.” This would make it harder to qualify for an auto loan or mortgage.
The agency concedes that credit-card issuers may also raise interest rates, reduce rewards, “increase minimum payment amounts or adjust credit limits to reduce credit risk associated with consumers who make late payments.” Because some states cap credit-card interest rates, “some consumers’ access to credit could fall.” Thanks, Mr. President.
By the way, the rule comes as credit-card delinquencies have risen to the highest level in more than a decade. Issuers are tightening credit to reduce charge-offs. The rule could force more borrowers to turn to higher-cost credit such as payday loans. Businesses that contract with banks to offer credit cards will also take a hit. Late fees account for between 14% and 30% of department store credit-card revenue. They’ll have to offset the rule’s impact somehow, perhaps with higher prices.
…
The Biden Administration is playing up its price controls as an election-year gambit, but it never explains the unseen effects down the road. The forgotten man always pays.
The CFPB’s rule slashes the cap to $8 and eliminates the annual inflation adjustment. Yet as even the CFPB acknowledges, the lower penalty may cause more borrowers to pay late, and as a result incur higher “interest charges, penalty rates, credit reporting, and the loss of a grace period.” This would make it harder to qualify for an auto loan or mortgage.
The agency concedes that credit-card issuers may also raise interest rates, reduce rewards, “increase minimum payment amounts or adjust credit limits to reduce credit risk associated with consumers who make late payments.” Because some states cap credit-card interest rates, “some consumers’ access to credit could fall.” Thanks, Mr. President.
By the way, the rule comes as credit-card delinquencies have risen to the highest level in more than a decade. Issuers are tightening credit to reduce charge-offs. The rule could force more borrowers to turn to higher-cost credit such as payday loans. Businesses that contract with banks to offer credit cards will also take a hit. Late fees account for between 14% and 30% of department store credit-card revenue. They’ll have to offset the rule’s impact somehow, perhaps with higher prices.
…
The Biden Administration is playing up its price controls as an election-year gambit, but it never explains the unseen effects down the road. The forgotten man always pays.
57Brave
Well-known member
Ed Krassenstein
@EdKrassen
BREAKING:
Senator Bernie Sanders calls for a four-day work week.
His reasoning is that American workers are 400 times more productive than they were in the 1940s, and CEOs are making around 350 times more than their employees.
Robotics and AI are going to take many jobs, while making the jobs that remain, even more efficient.
Who reaps the rewards of that progress? Right now it’s the large corporations and CEOs. Sanders argues that some of that benefit should be passed down to the workers in the form of 4-day work weeks.
What do you think?
@EdKrassen
BREAKING:
Senator Bernie Sanders calls for a four-day work week.
His reasoning is that American workers are 400 times more productive than they were in the 1940s, and CEOs are making around 350 times more than their employees.
Robotics and AI are going to take many jobs, while making the jobs that remain, even more efficient.
Who reaps the rewards of that progress? Right now it’s the large corporations and CEOs. Sanders argues that some of that benefit should be passed down to the workers in the form of 4-day work weeks.
What do you think?
acesfull86
Well-known member
Easy …let the market figure it out …not a place for Congress to mettle.
57Brave
Well-known member
What a ridiculous notion, let the markets figure it out!
The markets had their way, children would be in coal mines at 12 or younger.
You couldn't buy a step ladder without wondering whether you'd fall or not
and the warranty on that $70 PU truck wouldn't be worth the paper it is written on
Are you so naive to believe the markets are an honest arbiter of public policy ?
What a sophomoric notion.
The markets had their way, children would be in coal mines at 12 or younger.
You couldn't buy a step ladder without wondering whether you'd fall or not
and the warranty on that $70 PU truck wouldn't be worth the paper it is written on
Are you so naive to believe the markets are an honest arbiter of public policy ?
What a sophomoric notion.
acesfull86
Well-known member
The gentleman who just posted a meme comparing MAGA and the Taliban calling my notions sophomoric is a compliment
Tapate50
Well-known member
Zero self awareness
acesfull86
Well-known member
False equivalences abound. A 4 day vs 5 day workweek is comparable to children working in coal mines? I don’t think so.
A more apt comparison might be remote/hybrid/in person work. Today, the breakdown is something like 50% hybrid, 25% remote, 25% fully onsite. 5-10 years ago, those numbers were vastly different. Yes COVID accelerated trends that were slowly evolving, but no act of Congress was/is required to drive change. Companies and employees will continue to figure out the best working arrangements for their individual situations. They can do the same for a 4 day vs 5 day work week.