It should be illegal to charge compound interest, and the highest a person should ever have to pay is 10% of the total borrowed. So $100 is $110 back, max.
I hate this argument.
What happened to being an adult and not signing your name to stupid shit you can’t afford?
Predatory business practices.
Compound interest has been a thing since the Babylonians, 2,000BC, and they understood it from clay tablets.
If you don’t understand it 4,023 years later with a iPhone in your pocket, you’re an idiot.
I mean, you’re not wrong, but I think their point was it’s morally wrong, not confusing.
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Predatory capitalism happened. And a system of society that doesn’t afford everyone an equal opportunity to take advantage of such a system.
Then what’s to stop people from borrowing money and waiting until the amount they have to pay back is less than what they borrowed due to inflation?
What’s to stop people from borrowing money and waiting until they die?
Forfeitures. Credit ratings.
I guess nothing. Make things cheaper.
It’s a bit more complicated than that, I’m afraid
Greedy Billionaires aren’t complicated.
No, but economics are.
They’re complicated by manipulation. I wonder who is doing the manipulating?
Kill the billionaires.
