Amusing Reader Comments on Credit Card Interest Rate Caps – Mish Talk

President Donald Trump proposes capping interest rates on credit cards. I made a comment earlier. Now, my readers also understand the point.

The comments below and my replies are to my post President Trump proposes capping credit card interest rates, as do AOC and Bernie

The competitive self-destruction of the Republican Party as we once understood it is on full display today.

forgotten people

Reader: President Trump wants to help the forgotten. Trump understands small businesses.

Mish: What partisan nonsense. Note that AOC and Bernie Sanders support Cap, and Trump just joined the Socialist Party. Did I fail to point that out?

What the reader receives next is irony.

I'm a Republican and I love the free market.

Reader: But I'm a Republican and I love the free market…unless you like Trump…then I hate you!!!! /Sarcasm

Mish: Lol. One other reader commented: “You need that laugh button, Mish 🙂 This part is really high comedy.”

Don't tax social security

Reader: Why should we tax Social Security? Tariffs and taxes on producers are bad, but I prefer taxing foreign companies first.

Mish: But if you tell me how you're going to pay for it, I'll consider any benefits. This idea would cost hundreds of billions of dollars. So please tell me how to pay.

Also, please tell me how foreign corporations are taxed. If you think tariffs are taxes on foreign companies, you are economically ignorant. That's a shame considering we've discussed it many times before.

Bravo!

Reader: Bravomish! You are the only one blaming Trump and the Republican Party for their growing socialism. This is why I keep saying that politicians don't save anyone, they have to focus on themselves.

Mish: Thank you! Thank you very much. But that costs me the reader. So is every criticism of Trump.

I especially like your comment about having to focus on your own being. To this I would add: “Because the government would never do that.”

clown show

Background: I ended my first post on this subject with this: “Trump is trying to beat Harris on the free money proposal and now on the price cap. This is truly pathetic.”

Reader: The word “pathetic” is too technical to describe a clown show.

Mish: I accept that idea.

It's better not to lend

Reader: If a credit card company can't get more than 10% to make a profit on cardholders who are on the verge of bankruptcy, then the company has stopped lending to them. We might all be better off.

Mish: I think this is an unfortunate state of affairs. But who decides what is better for whom? you? government? Or a flea market?

Will all pawn shops and payday loan businesses be abolished? (Because it's the only option).

What better chance than some? That's effectively what you're saying.

grasp reality

Reader: Price controls lead to shortages. Limiting interest rates on risky loans (credit cards) creates a lack of credit. I don't have a problem because I pay the balance right away, but there are many people who don't.

Misch: Some of my readers have a firm grasp on reality without being partisan. congratulations!

I'm not interested at all

Reader: I'm not interested at all. Charging interest on money is a scam all together.

Mish: Thank you. I'll make a note of it.

Misch's note to self: Money and default risk are not worth your time.

“I'll be happy to pay for today's hamburger on Tuesday.”

blame biden

Reader: Blame all this on the worst president ever, Joe Biden, and the useless Kamala, who destroyed the American economy.

Mish: Trump would be better off talking about the economy than talking like Bernie Sanders!

Today's lesson (repeat)

You can't (well, what I'm saying, you shouldn't) try to compete with Democrats on free benefits. They can always do more or appear more fair.

Worse, President Trump is proposing things that will cause massive inflation unless he makes clear how he will pay for these ideas. But he doesn't.

If you think you can get away with tariffs, you're just crazy. Additionally, tariffs are regressive taxes on consumers.

The proposed fee will be explained separately.

Harris and Trump talk about food costs

If you like silly answers, see more answers Harris and Trump's ridiculous answer on food costs

Both candidates have been asked what they will do about rising food prices. Discuss their answers.

Kamala's changing EV position

On September 21st I pointed out Harris declines to comment on changes in EV position (and more)

“My values ​​haven't changed.”

After reflecting on it, I think you can take it to the bank.

Her values ​​haven't changed. What has changed is that Harris is pretending that the policies she supports have changed.

Trump talks too much about the wrong things. Harris doesn't speak at all. This is a very wise policy by Mr. Harris.

Why talk when the other person keeps putting their foot in their mouth?

This is a real clown show.

Thank you, readers.