United States Heading towards a Depression?

I'm not one to feel too sorry for anyone who gets in over their head in payday loans. If you can't pay it back on your next payday, then you shouldn't have taken the loan.

However I do think that there needs to be regulations that keep interest rates down for those who can't pay it back when they should. The high interest rates can stay in place for a short period (several weeks), and then they drop down to something a little higher than typical rates.

 

I have not understood why people even use them. It seems those who use them, use it every paycheck, I just thought they were cashing their checks at a high fee because they messed up a checking account so that no bank will let them use their services.

Basically there should be some regulation, but like gambling, should it be outlawed? If someone is against payday loans should they not be against the lottery, welfare and cigarettes? (Sure that may seem random, but they are all ways of imprisoning people.)

 

Maybe we should regulate pawn shops too?

 

Pawn shops profit from drugs. Either people getting rid of their stuff for their drug addiction or stuff they stole. (Maybe not where you live, but here it is 99% of their business)

 

Sometimes it helps to step back from the propaganda and rhetoric of the day and look back to what our forefathers had to say on these issues:

"The general (federal) government will tend to monarchy, which will fortify itself from day to day, instead of working its own cures." — Thomas Jefferson

"Good intentions will always be pleaded for every assumption of authority. It is hardly too strong to say that the Constitution was made to guard the people against the dangers of good intentions. There are men in all ages who mean to govern well, but they mean to govern. They promise to be good masters, but they mean to be masters." — Daniel Webster

"When all government, in little as in great things, shall be drawn to Washington as the Center of all power, it will render powerless the checks provided of one government on another and will become as venal and oppressive as the government from which we separated" — Thomas Jefferson

"Society in every state is a blessing, but government, even in its best state, is but a necessary evil; in its worst state, an intolerable one." — Thomas Paine

"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." — Thomas Jefferson

"Whenever there is an interest and power to do wrong, wrong will generally be done and not less readily by a powerful and interested Party, than by a prince." — James Madison

"To take from one, because it is thought that his own industry and that of his fathers has acquired too much, in order to spare others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, ‘the guarantee to every one of a free exercise of his industry, and the fruits acquired by it.’" — Thomas Jefferson

"The legitimate powers of government extend to such acts only as they are injurious to others." — Thomas Jefferson

"No man has a natural right to commit aggression on the equal rights of another, and this is all from which the laws ought to restrain him. …the idea is quite unfounded that on entering into society we give up any natural rights." — Thomas Jefferson

"I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it." — Thomas Jefferson

"The policy of the American government is to leave its citizens free, neither restraining them nor aiding them in their pursuits." — Thomas Jefferson

"A wise and frugal government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement." — Thomas Jefferson, First Inaugural Address, 1801
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I hear they are really big in Canada for that purpose

 

One more utterly stupid, non substantiated comment. Not surprising. There is not a dictionary, accepted book of economics, or any person with a modicum of intelligence on the topic of economics that would support this twisted analysis.
Mia is the guy that agrees with the academic who erroneously reported that Obama did not win a plurality of states and furthermore believes that people should be allowed a vote based on the volume of land they have.

In that context, GWorld lives in Canada which is far bigger than the US. Lets have a vote as to whether the above comment made by Mia is an example of an ignorant statement or not. GWorld and Mia can vote. Since Mia called it, GWorld's vote counts more than Mia.

Go ahead and vote.

 

Standard democrat voting procedures.

 

LOL....hey, Mia supported and published the idea.

 

Profit seldom portends a stocks performance....often the disguise for pending disasters.

By the way, the right wing longing for a Depression must be giving them a few extra cramps over the ones already caused by the historical Healthcare legislation - - Dow Jones Industrials 10,850.00 only 30 pts. from 11000 in last weeks trading before settling by Friday.

Healthcare was a one day event without much carryover for those particular stocks - the verdict is apparently still pending for traders but overall that Legislation may be the rallying point to look back on for several years to come, than had it failed......the politics not withstanding.

 

Wow, talk about stupid? Pot, meet kettle...
What bothers you more, the fact that I am right, or that you're incapable admitting it?

 

Seldom stocks perfomance disguise profit for pending portends disasters.

The garden right wing healthcare cramps caused depression giving them the historical legislation trading Dow Jones Industrials by 10,850 settling from 11000 only 30 pts longing a few extra traders rallying on for several yesrs to come. Politics failed not withstanding particular stocks - the verdict. Apparently by Friday already over the ones in last week. Before the overall rallying point to look back.

 

- What bothers you more, the fact, or that you're incapable admitting it?

 

Are you replying to my post?

 

True, very true.

Don't be silly - no one longs for depression, because it hurts both parties. But it's true that a depressed economy hurts the party in power more - and isn't that as it should be?

Did the left-wing long for the banks to crash in 2008 to help the Democrats win the White House? No, they didn't long for it, but they certainly enjoyed every viable and (even non-viable) advantage to use the recession to get Obama elected. That's politics.

So, it's hypocritical for the left-wing to rejoice at the recession that got Obama elected, then cry and whine that the very same recession that Democrats failed to stop now threatens their seats in Congress!.

 

I think he's started drinking early today...

 

Are you the only one who caught what I did?

 

It looks like you downloaded whatever script Breeze Wood is using to write his posts.

 

If mia is loyal to you, she should be the only one.

 

Yes, I agree those responsible for a recession should be held accountable and no one should long for a catastrophe.


....the very same recession that Democrats failed to stop now threatens their seats in Congress!

This is what I was alluding to - - The recession is resolved, the liberals have accomplished their task for being elected. Lets hope the right wing catches on before they are made into bigger fools than they already are....as in ever having supporting the previous administration in the first place.