Shit-talking Capitalists

Capitalism is predatory by nature. Thats how it works, the weaker entities make bad choices and fail or are taken advantage of while the smarter, stronger or better positioned profit and survive. The market isn't a zero sum game but everyone will take a loss eventually.

g0zen you of all people shouldn't be asking the government to coddle the dumb with this socialist bullshit. Variable rate loans have the inherit risk of going UP or SPIKING as well as going down. Thats why fixed rate loans exist, why we have credit scores and reviews.

Market up, market down, rate up rate down. Capitalism does not mean everyone makes money all the time. Also: who didn't see this bubble coming? Its been talked about for months, people wondering: "When o' when will the housing bubble burst?"

I don't recall anyone asking the government to coddle us here, it's moreso I think a call out to people to fucking get with it, and hopefully turn the public against these scum that are following in such acts. I thought of it as more of a cry to the people not the government to organize and do something.

Or in your terms, become a larger entity.

But if the government is going to interject into these businesses, and back them, shouldn't there be government backing to the people as well?

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Originally Posted by Thief Silver

I don't recall anyone asking the government to coddle us here.
But if the government is going to interject into these businesses, and back them, shouldn't there be government backing to the people as well?

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Originally Posted by g0zen

It's a shame and while it isn't technically illegal it's scummy as fuck.

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Implied call of: This should be illegal.

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Originally Posted by MarsKitten

g0zen you of all people shouldn't be asking the government to coddle the dumb with this socialist bullshit.

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What does this even mean? Telling the fed to cut the rate at which lenders can advertise to stop them from doing this bullshit in the middle of a market downturn isn't socialism. It's what the fed is supposed to do in this situation.

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Originally Posted by MarsKitten

Implied call of: This should be illegal.

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If you're implying that I personally think it should be illegal, then I'll just go ahead and say that yes I do. I don't want people duped and them and their families becoming homeless. I guess that makes me Lenin reborn, right?

Its direct government control. The loan rates aren't the problem, its the fact that these lenders are making BAD FINANCIAL CHOICES by lending to people who would be able to repay at a higher rate should their VARIABLE (meaning it can change) rate loan go up too far.
Like we've been expecting, forever.

Its not Leninist, just uncharacteristically socialist for you g0zen. I haven't seen you call for the working masses to cast down their chains and rise up yet.

Can someone please explain it in laymen's terms? I didn't quite understand everything he was saying.

All I got was that companies are worried now that the people they've given loans to won't be able to pay back because the interest rate hike will put people into foreclosure.

The rate hike also affects the bond market too. The price of bond is dropping (fixed income he was ranting about).

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Originally Posted by MarsKitten

Its direct government control. The loan rates aren't the problem, its the fact that these lenders are making BAD FINANCIAL CHOICES by lending to people who would be able to repay at a higher rate should their VARIABLE (meaning it can change) rate loan go up too far.
Like we've been expecting, forever.

Its not Leninist, just uncharacteristically socialist for you g0zen. I haven't seen you call for the working masses to cast down their chains and rise up yet.

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Direct government control? LOL, have you been dating Ayn Rand's corpse lately or something? The financial market has plenty of regulation and has for decades. In fact the last time we had an unregulated market it totally collapsed and lead to a little thing you might have heard of, the Great Depression.

I don't know where you got that I was ever a free-marketeer to begin with, because I'm definitely not. I'm not a socialist either, and neither is Kramer.

Variable interest rate loans are for suckers.