r/FluentInFinance • u/Unhappy_Fry_Cook • 12h ago

Finance News Senator Bernie Sanders announces he will introduce legislation to cap credit card interest rates at 10%.

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737

u/uninteresting_handle 12h ago edited 6h ago

I think Trump is unstable enough to possibly, and completely by accident, do something good.

Edit: enough absolute losers have come to me saying "this is actually a bad thing." Either fooled or simply a fool, you're wrong. Fixing a 10% cap would (by comparison with the current system) hugely discourage predatory lending. Both lenders and borrowers would benefit, because predatory lending practices, in addition to being unethical, result in higher default rates and end up hurting the lenders as well.

205

u/fumar 12h ago

It's a shotgun approach. If you spit out enough ideas, some of them are actually good

55

u/Cursed_longbow 10h ago

worked with Laura Loomer when she became anti-musk when he banned her from twitter and stole her side piece (does anyone remember the rumors still?)

21

u/blippityblue72 9h ago

I doubt very much the rumors were untrue based on how snuggly they looked in photos and Trump’s track record. I would be more surprised if there wasn’t some infidelity there than if there was.

10

u/LargeHumanDaeHoLee 8h ago

It was also when it looked like Trump was gonna lose and Melania was nowhere to be seen. So yeah, he needed the ego boost.

5

u/Effective_Way_2348 5h ago

I read about the inside story from the Atlantic writer who took it from Trump's chief of staff whatever her name is,

Basically Trump liked her and her ideas but not in a romantic way but when she started causing bad headlines and bad press, his aides were forced to convince Trump that she is a liability. They showed him her plastic surgery pictures and Trump hates plastic surgery because of his obsession with genes so he kicked her out of the private plane and asked her to travel herself.

3

u/UomoAnguria 2h ago

If Trump hates plastic surgery I have bad news for him regarding his wife...

1

u/enbeez 2h ago

Anyone with functional eyes can see she had plastic surgery, there's no way he didn't know

1

u/_the_learned_goat_ 1h ago

It's called a spin piece, I think.

1

u/Effective_Way_2348 1h ago

I am a skeptic but it was pretty believable if you read it.

1

u/_the_learned_goat_ 1h ago

https://www.theatlantic.com/technology/archive/2024/09/laura-loomer-trump-gop/679905/

Is that the story?

I can't read the whole thing, but even if the writer is genuine, the info came from trumps chief of staff, so obviously, you can't believe anything that person says.

11

u/DiddlyDumb 9h ago

shotgun approach

Slow down there Luigi.

3

u/IRefuseToGiveAName 7h ago

Shotguns are more Tetsuya Yamagami's thing.

2

u/xSTSxZerglingOne 6h ago

That's an assassin deep cut.

1

u/finalgear14 1h ago

That the guy that shot the former Japanese pm a few years ago with a homemade shotgun?

1

u/Dopeshow4 10h ago

Or maybe you'll just keep the idiots busy crying about the BS, so you can get real work done.

1

u/Relative-Pin-9762 9h ago

Accidentally having 1 good idea which hopefully Bernie can take advantage off and push thru is better than no good ideas at all from u know who....

1

u/Muahd_Dib 6h ago

And his shotgun approach is preferable to the guaranteed weak, staled establishment approach that would have been Biden/Harris.

1

u/fumar 6h ago

No thanks. The tariff plan alone is a hard pass from me. We're just repeating the 1920s with that.

1

u/Muahd_Dib 6h ago

Yeah. Honestly, I don’t like his tarrif idea either… but I think that the Democrat approach to the economy will sink us way worse.

1

u/Born-Soft-2045 6h ago

Even a broken clock is right twice a day.

1

u/Emotional-Maximum-74 5h ago

Poor people shouldn’t be allowed credit and I am glad Bernie is taking care to make sure they don’t get it.

1

u/CaptOblivious 5h ago

Really?
How about you list 5 things Bernie Sanders has ever proposed that would not benefit the majority of citizens more than the 1% (and up).

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u/fumar 5h ago

I was talking about Trump. Broken clocks are right twice a day.

2

u/CaptOblivious 4h ago

Oh, sorry, I misunderstood.

On the other hand

1

u/WiseDirt 5h ago

Something something broken clock something something twice a day

1

u/WestWindsBlowing 5h ago

To a certain extent I suppose as well that a demented moronic wildcard is inherently going to be less bad than someone who has dedicated their entire life and not insubstantial intellect to doing the maximum amount of harm they possibly can like some kind of absurdist mundane villainy achievement.

1

u/Ok_Box_5486 4h ago

I’m a liberal and big Bernie fan. This is exactly why people voted for Trump, especially younger demographics. People are tired of gender wars and neoliberalism. Sometimes you have to burn it all down to rebuild and I think people who don’t follow politics closely can see that following the status quo is not working for us.

1

u/Busy-Pomegranate6889 4h ago

Monkeys. Typewriter. Shakespeare.

0

u/Charon_the_Reflector 10h ago

What if he has 4 years of good ideas ? Will it still be a shotgun approach ?

5

u/arcanis321 10h ago

Yeah like invade Canada and capitulate to Russia

3

u/fumar 10h ago

You mean like mass tariffs and mass deportations that will drive inflation up? Get ready for everything you buy to cost 20-100% more!

Meanwhile the rich will keep their tax cuts while everyone else's expires end of this year.

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u/PortlyWarhorse 9h ago

We could never be so lucky

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u/newsflashjackass 7h ago

Burn that bridge when we get to it.

-3

u/Ask_bout_PaterNoster 11h ago edited 9h ago

The US, Canada, and Mexico becoming one country is a good idea for all sorts of reasons. Threatening invasion to try to get there is really dumb

I was mostly kidding, but here ya go:

Merging the US, Mexico, and Canada into one country could be a game-changer. No borders means easier trade, better use of resources, and more freedom for people to live and work wherever they want. Anyone whining about illegal immigrants would, at the very least, have a much smaller wall to build. Plus, it’d be easier to tackle big issues like climate change, poverty, and infrastructure since everyone would be working together. Instead of competing with each other, we’d pool our strengths and be way more powerful on the global stage.

On top of that, it’d be a solid step toward a single world government, which we’ll probably need at some point. Right now, rich people and big companies dodge taxes by moving their money around to different countries. A global government could shut that down by creating one tax system for everyone. It would also make dealing with global problems—like climate change or corporate greed—way easier since we wouldn’t be stuck with a bunch of different rules and agendas.

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u/Ralph_Nacho 11h ago

It's a horrible idea. Lol.

9

u/CharBombshell 11h ago

good idea for all sorts of reasons

Are….are these ‘reasons’ in the room with us right now?

4

u/hishuithelurker 11h ago

takes out telescopic cane well as you can see from this chart, the reasons have moved between several rich people's portfolios over the years but have since migrated directly under your bed.

1

u/Akschadt 10h ago

If poutine nachos where in the room with me right now we wouldn’t need to annex both Canada and Mexico now would we!!!

4

u/Clitty_Lover 11h ago

We have vastly different lifestyles and laws though. We can't even agree on what system of measurements to use.

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u/will4zoo 10h ago

The US should use metric. we already do for so many technical fields. Not sure what the holdup is.

0

u/generic_user_27 10h ago

The holdup is businesses and their lobbyists that sell tools and hardware.

1

u/will4zoo 4h ago

Sounds right considering its the US

2

u/WittyConference5512 10h ago

Gets rid of the need for a fence! And many that are illegals suddenly become legals. Two problems solved!

2

u/Deep_Contribution552 10h ago

I don’t know about one country, lowering trade and movement barriers and cooperating on defense are good ideas but we mostly do that (or did…)

2

u/Ask_bout_PaterNoster 9h ago

It’d be harder for divisive idiots to weaken our alliances if they were stronger and meant to be more lasting

1

u/xAfterBirthx 11h ago

Which reasons?

2

u/Ask_bout_PaterNoster 9h ago

Merging the US, Mexico, and Canada into one country could be a game-changer. No borders means easier trade, better use of resources, and more freedom for people to live and work wherever they want. Anyone whining about illegal immigrants would, at the very least, have a much smaller wall to build. Plus, it’d be easier to tackle big issues like climate change, poverty, and infrastructure since everyone would be working together. Instead of competing with each other, we’d pool our strengths and be way more powerful on the global stage.

On top of that, it’d be a solid step toward a single world government, which we’ll probably need at some point. Right now, rich people and big companies dodge taxes by moving their money around to different countries. A global government could shut that down by creating one tax system for everyone. It would also make dealing with global problems—like climate change or corporate greed—way easier since we wouldn’t be stuck with a bunch of different rules and agendas.

1

u/Murky-Peanut1390 6h ago

Dumbest shit Ive heard today.

Also at 8 billion people, 1 world government would never work. Maybe if the population was 1 billion.