You don't say. Where I live, we have a service where every transaction can be paid as a long term loan. Such services are just so bad that encourages horrible spending limits. I can't believe how people fall into all of this. No wonder people seem to have way better everything in terms of luxury, and they earn less than us.
Once you learn the lesson that buying more stuff does NOT make you happier you can then start to build a more meaningful life. Treat the advertising industry and online influencers as your enemy not your ally. If you have to use a credit card or debt to buy it, you cannot afford it.
@@blade86ca This it incorrect, it is not ok. The reason is psychological. Once you have extra credit, you spend more and pay more than without credit. Even if you pay it off on time. you end up buying more than if you have to wait, i.e it leads to overconsumption. You also pay full price rather than waiting until the price drops (as often happens with lack of sales). So overall, having available credit is bad for your wealth even if you pay off the credit on time.
@@COOLARUL "Once you have extra credit, you spend more and pay more than without credit" , your statement is illogical. The price of an item does not go up just because you have credit. That why I said it is fine as long as it is paid off asap that is why there is the 0% interest Grace period all Credit cards offer. Price Inflation occured due to Gouvernment terrible decision making and poor decision making by people with credit but that does not mean credit is bad for your wealth.
@@blade86ca We humans are irrational. It may seem illogical but that is exactly what we do. Our cognitive bias at work. 2 books I recommend, Predictably irrational by Daniel Ariely and Thinking fast and slow by Daniel Kahneman.
The record credit card debt has multiple reasons behind it: - Our education system no longer teaches kids about money/debt, and its consequences (especially when it comes to student loans). - Social media impose the need for luxury goods/lifestyle's on more impressionable kids. - The banks themselves who will literally throw credit cards your way regardless of your financial situation. I have been automatically approved on multiple occasions by my bank and am repeatedly notified of how much credit I can access, which is tempting for the vulnerable person. - Lack of willingness to take personal responsibility in modern generations. - Inflation and subsequent wage stagnation created by our governments/federal bank monetary policy.
Surprisingly, I side with Trump on this one. I would go even further than he does. Credit availability contributes to positive feedback loops in the economy, making it inherently unstable and leading to boom/bust cycles. Not to mention that it leads to exploitation of human weaknesses. Historically, the (social) cost of these exploited weaknesses will be distributed over the many, while the exploitation itself will only benefit the few. Risk taking is for entrepreneurs, not for consumers, consumer credit should be strongly discouraged.
Initially it sounds good but I am against it. First it makes no sense to be temporary, either permanent until a new law is passed or not do it at all. I agree with the disclaimers afterwards would say it would likely be replaced with high fees or some other mechanism for the banks to get their money. I think a better solution would be education of how credit cards, debt, and interest bankrupt individuals. The American education system did not teach that at all much less to people who dropped out of school. I think the town should advertise and have a counselor or something for free to teach this amongst other important things. I say this with an open mind not just as a Trump hater. Trump has legitimately bankrupted every company he attempted except land/real estate and even those are riddled with fraud or crazy lawsuits.
@@MyExcellentOpinion I'm afraid that you overestimate the effect of education. As Western Europeans, we do receive such education. However, this doesn't change the distribution of intelligence amongst our population. Nor does it fix the low impulse control in certain individuals. Now take a guess which characteristics set apart the group with problematic debts from the general population... Isn't there an English saying like: "You can't fix stupid."? In some (maybe even all?) EU member states, the interest rates on creditcards are already capped below 15% without it leading to extra fees. I don't see why a law limiting rates wouldn't be able to forbid extra fees at the same time. This seems like a non-issue. I'd still rather see the consumer credit card industry perish altogether. They serve no real economic purpose.
I am almost always on the side of open markets. Interest rates are, however, the area where I deviate. I really like the point brought up in a recent comment though that this makes no sense being temporary. I would add to that. I think we need a permanent rate cap, tied to the fed funds rate. It needs to be introduced slowly, however. If we go cold turkey, the very groups that we’re trying to protect are going to be hurt the most. I don’t agree with the idea that education is enough of an answer. It’s not an education issue. These people are, very often, brilliant and fully aware. The problem is self control and desperation. My parents are a great example. To this day, I can not convince them to cut up the damn things. They went into credit card debt shortly after moving across the country when they caught a bad short term break. That was 27 years ago. They both have their masters in mathematics. It’s always been too easy to push off getting off these leeches until next year to get them out for good. I refuse to touch these. Too dangerous! (At least for going on a balance)
I started out as a responsible user of my credit card. But ran into trouble and maxed it out at $7000. Took me a long time to pay it off. Once I did i took a pair of scissors and cut it up. Never to use one again that was 18 years ago.
Short of a couple utilities, rent, and payments to the gov't that charge an extra fee way higher than reward points using a credit card, I legitimately cannot remember the last time I paid for something not using a credit card. Over 15 years and have not once paid so much as a penny in interest, pay off in full every month.
Same. I even do the whole credit card shuffle thing where I get 4% for gas, 5% for groceries, etc. Credit cards are great for those who are intelligent.
Around here (Belgium) people mostly use their debit card. And I only use my credit card for online purchases or when abroad. And even then, I use it as a debit card. Every month the bill is settled. Some people don't seem to realise that a maxed out credit card (and only paying back partly) means they give a fifth of their salary to the bank...
This is why I laugh at the “deflation is bad because people will delay purchases” nonsense… oh then why is there a trillion+ in credit card debt… clearly people are willing to pay more now than wait and pay less in the future.
Once upon a time, there was store credit or "layaway" with the alternative being some form of "Shylock". From there to here in time, the poorest are still the most exploited.
I found it surprisingly high. It's probably artificially inflated too if it's just total debt, not revolving debt. Because total debt also includes everyone who pays credit cards off in full every month. So for me, it'd count for like $600-1000 in an average month, despite never having not paid a credit card off in full every month for the entire 15+ years I've had a credit card. Total credit available to people drowning in credit card debt is likely not super high on a per person basis.
Good video. The 1.2T of CC debit numbers don't include the various buy now pay later schemes that have grown significantly in the last few years. I don't think there is good data yet on how big that number is, but if I am wrong it would make for an excellent video :)
I dunno guys. Most people with credit card debt drive much nicer cars than I do and have an RV to boot parked in their third car garage. I drive a 2013 Honda Civic and have $0 credit card debt. In fact, I'm doing quite alright. It really boils down to living within your means and not spending what you don't have. Most people in credit card debt deserve their fate, they shouldn't have the RV and the boat. Embracing the struggle and saving your money until you get to a certain point in order to 'get ahead' is what you need to do. My overall sympathy is pretty low.
The credit card debt is bad enough, but the money people have wasted on RVs, boats, oversized trucks, motorcycles and travel is extraordinary. Even if you have the the cash, it doesn't mean you can afford to waste those savings on an oversized toy. We are surrounded by people who are childishly self indulgent, and then they are broke or in debt when they reach retirement age.
the problem with these graphs - not adjusted for inflation, growing population/household size. The value of dollar has depreciated, everything costs more. so, it seems natural to have a "larger" debt in non-normalized terms.
Like, seriously yeah? Are people THAT short minded where you are like "I'll wait a month, that will come next decade" I can't even buy eggs without thinking why am I overpaying for these, could've gone there and got it for cheaper
I am probably misunderstanding the rationale and several comments below... but surely the idea to reduce interest rates on credit cards would encourage people to put MORE debt on their credit cards? I'm certain that would happen.
You can look at lots of problems in our current world as it going from a Christian society to a post Christian society. Usury is a sin for a reason, but obviously as we move away it isn’t obvious to those making decisions why the removal of this from law would be so damaging.
I hate consumer credit because it inflates prices. Those consumers who are willing to go in debt and pay usurious interest rates are the customers who set the prices for the rest of us.
There should be rules for getting and continuing to use credit cards. Similar to buying a house, where you need certain income. To me, an european, credit card is a weird thing. Never had one and donmt see a point in it. I mean, if I can't buy something small with cash I already have, I probably should not buy it. From smartphone to pizza. A house or a car is different story, but you should not use credit card for it.
There are rules for maintaining credit cards and credit lines. Haven't you been reading about people's credit card limits being reduced, and at times, credit card accounts closed? Financial reviews, constant credit monitoring...they're watching...
Rebel Economist Professor Steve Keen's analysis of the real cause of the Great Depression exposes this. Private debt excess presages "issues" {other known as "$hit $hit were fkd" 2008 is like WW1 differing to WW2!}
0:18 In fairness, not having a credit card is objectively bad management of finances because credit card rewards are implicitly paid for by a combo of: cash/debit buyers, business revenue, and card company revenue. Not even to get into it being safer against fraud and whatnot. 100% of people should have credit cards, they should just use them responsibly by paying in full every month.
Humans are.programmed to want things we.dont need...that's where credit comes in..u want it?...here's a card that let's u get it...walk down any street..and the chances are u will have spent something on something u didn't want...
Mortgages..credit cards....store cards...holidays...deposit now...pay later...car loans...endless forms of credit to satisfy the hunger for stuff which we don't need but gives minutes of instant gratification...then u get it home..put it a cupboard and forget about it
Interest rate caps would inevitably make the rich, richer and the poor, poorer. It's "Too Big To Fail" at the consumer level. If you want bigger businesses and bigger government, interest rate caps are a great idea. "Specifically, caps on lending rates lead to a reduction in the overall supply of credit, with non-trivial effects on financial inclusion as banks are forced to reallocate credit from small, risky borrowers to large commercial borrowers and the government."
I am 22 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
I am 22 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
Yeah. Back in the day(2007) built up a credit line of about 250 k on thirteen cards. Then the companies realized there was a crunch coming. Bank f am. cut my line from 30K to 2K. for no reason. It took my FICO from 807 to 670 in one swoop. The other cards saw that and closed a bunch. A few years later my FICO was back to 823 , so I borrowed a bunch and defaulted. Now I'm at 650 again and in a few months will start it over again. Free money, can't beat it.
@@dougsheldon5560 I've had to start over many a times in my life too. I try to get back up stronger than ever. I also try not to give into being self-serving like these Charltons around me. My edge over them is that they are predictable in their nature of greed and folly.
As much as I like Trump, I am deeply disappointed that that Trump wants to implement interest rate price controls on credit cards at 10% That is price controls, and has been tried and failed numerous times throughout all human history!
Join the 90 million MyHeritage users and discover your family origins with a 14 day free trial: bit.ly/HamishHodder2_MH
Instant gratification is a good friend of credit cards.
In other words, human nature is a good friend of credit cards?
"Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants, but debt is the money of slaves" Norm Franz.
credit cards have ruined many respectable households
sadly yes
Then they weren't very respectful to begin with. Respect your future self so much that you say NO, I'm not buying this.
You don't say. Where I live, we have a service where every transaction can be paid as a long term loan. Such services are just so bad that encourages horrible spending limits. I can't believe how people fall into all of this. No wonder people seem to have way better everything in terms of luxury, and they earn less than us.
Their bad habits and relationship with "money" ruined them long before credit cards came across their path...
Once you learn the lesson that buying more stuff does NOT make you happier you can then start to build a more meaningful life.
Treat the advertising industry and online influencers as your enemy not your ally.
If you have to use a credit card or debt to buy it, you cannot afford it.
Using Credit card or debt is fine AS LONG AS one can pay it off asap or within a very short amount of time.
@@blade86ca This it incorrect, it is not ok. The reason is psychological. Once you have extra credit, you spend more and pay more than without credit. Even if you pay it off on time. you end up buying more than if you have to wait, i.e it leads to overconsumption. You also pay full price rather than waiting until the price drops (as often happens with lack of sales). So overall, having available credit is bad for your wealth even if you pay off the credit on time.
@@COOLARUL "Once you have extra credit, you spend more and pay more than without credit" , your statement is illogical. The price of an item does not go up just because you have credit. That why I said it is fine as long as it is paid off asap that is why there is the 0% interest Grace period all Credit cards offer. Price Inflation occured due to Gouvernment terrible decision making and poor decision making by people with credit but that does not mean credit is bad for your wealth.
@@blade86ca We humans are irrational. It may seem illogical but that is exactly what we do. Our cognitive bias at work. 2 books I recommend, Predictably irrational by Daniel Ariely and Thinking fast and slow by Daniel Kahneman.
@@COOLARUL What are you talking about??
There are so many stats crimes in this video. Not adjusting dollar values for inflation, using averages for individual credit card debt.
Agree, average is not a good measure, median is better.
Provide a list of revisions.
The record credit card debt has multiple reasons behind it:
- Our education system no longer teaches kids about money/debt, and its consequences (especially when it comes to student loans).
- Social media impose the need for luxury goods/lifestyle's on more impressionable kids.
- The banks themselves who will literally throw credit cards your way regardless of your financial situation. I have been automatically approved on multiple occasions by my bank and am repeatedly notified of how much credit I can access, which is tempting for the vulnerable person.
- Lack of willingness to take personal responsibility in modern generations.
- Inflation and subsequent wage stagnation created by our governments/federal bank monetary policy.
And low salaries
@@Al-yu6bq
No.
That's commie nonsense.
Productivity failure.
If you add value. You get paid.
Surprisingly, I side with Trump on this one. I would go even further than he does. Credit availability contributes to positive feedback loops in the economy, making it inherently unstable and leading to boom/bust cycles. Not to mention that it leads to exploitation of human weaknesses. Historically, the (social) cost of these exploited weaknesses will be distributed over the many, while the exploitation itself will only benefit the few. Risk taking is for entrepreneurs, not for consumers, consumer credit should be strongly discouraged.
Initially it sounds good but I am against it. First it makes no sense to be temporary, either permanent until a new law is passed or not do it at all. I agree with the disclaimers afterwards would say it would likely be replaced with high fees or some other mechanism for the banks to get their money. I think a better solution would be education of how credit cards, debt, and interest bankrupt individuals. The American education system did not teach that at all much less to people who dropped out of school. I think the town should advertise and have a counselor or something for free to teach this amongst other important things. I say this with an open mind not just as a Trump hater. Trump has legitimately bankrupted every company he attempted except land/real estate and even those are riddled with fraud or crazy lawsuits.
I pausedt the video when I replied. Cool that he mentioned financial education is being part of a solution.
@@MyExcellentOpinion I'm afraid that you overestimate the effect of education. As Western Europeans, we do receive such education. However, this doesn't change the distribution of intelligence amongst our population. Nor does it fix the low impulse control in certain individuals. Now take a guess which characteristics set apart the group with problematic debts from the general population... Isn't there an English saying like: "You can't fix stupid."?
In some (maybe even all?) EU member states, the interest rates on creditcards are already capped below 15% without it leading to extra fees. I don't see why a law limiting rates wouldn't be able to forbid extra fees at the same time. This seems like a non-issue.
I'd still rather see the consumer credit card industry perish altogether. They serve no real economic purpose.
I am almost always on the side of open markets. Interest rates are, however, the area where I deviate.
I really like the point brought up in a recent comment though that this makes no sense being temporary. I would add to that.
I think we need a permanent rate cap, tied to the fed funds rate. It needs to be introduced slowly, however. If we go cold turkey, the very groups that we’re trying to protect are going to be hurt the most.
I don’t agree with the idea that education is enough of an answer. It’s not an education issue. These people are, very often, brilliant and fully aware. The problem is self control and desperation.
My parents are a great example. To this day, I can not convince them to cut up the damn things. They went into credit card debt shortly after moving across the country when they caught a bad short term break. That was 27 years ago. They both have their masters in mathematics. It’s always been too easy to push off getting off these leeches until next year to get them out for good. I refuse to touch these. Too dangerous! (At least for going on a balance)
Trump wants to limit his interest rates to 10%. Maybe they see him as a high risk, and his credit rating in JNK...
I started out as a responsible user of my credit card. But ran into trouble and maxed it out at $7000. Took me a long time to pay it off. Once I did i took a pair of scissors and cut it up. Never to use one again that was 18 years ago.
Fantastic, informative video. Thank you for creating this!
Short of a couple utilities, rent, and payments to the gov't that charge an extra fee way higher than reward points using a credit card, I legitimately cannot remember the last time I paid for something not using a credit card. Over 15 years and have not once paid so much as a penny in interest, pay off in full every month.
Same. I even do the whole credit card shuffle thing where I get 4% for gas, 5% for groceries, etc. Credit cards are great for those who are intelligent.
I spend LESS with credit cards because I don't end up with $hundreds of pocket change sitting around. I hate pocket change...
Around here (Belgium) people mostly use their debit card. And I only use my credit card for online purchases or when abroad. And even then, I use it as a debit card. Every month the bill is settled. Some people don't seem to realise that a maxed out credit card (and only paying back partly) means they give a fifth of their salary to the bank...
Debt to GDP is out of control...
Solution: %0 interest and money printing... Inflate away the debt.
Is that possible with this level of debt? I don't think it can be done without dangerously devaluing the dollar.
This is why I laugh at the “deflation is bad because people will delay purchases” nonsense… oh then why is there a trillion+ in credit card debt… clearly people are willing to pay more now than wait and pay less in the future.
People are not econs. Econs would delay purchases, but as you say, humans don’t.
Once upon a time, there was store credit or "layaway" with the alternative being some form of "Shylock". From there to here in time, the poorest are still the most exploited.
Credit cards are fine it is the consumer who has responsibility on the usage of credit cards.
Credit card companies are your friends
Approximately $7,500 for each adult in the country. I'm surprised the figure is that low.
It is an average. Some people have 0 debt. Others will have 30000 CC debt.
@@Ferdinand208 Yes, average.
I found it surprisingly high. It's probably artificially inflated too if it's just total debt, not revolving debt. Because total debt also includes everyone who pays credit cards off in full every month. So for me, it'd count for like $600-1000 in an average month, despite never having not paid a credit card off in full every month for the entire 15+ years I've had a credit card.
Total credit available to people drowning in credit card debt is likely not super high on a per person basis.
I have zero. My bother has zero. My wife has zero. Both my parents have zero… that’s a lot of zeros to average in.
@@jonathantaylor6926 I have zero!!!
Good video.
The 1.2T of CC debit numbers don't include the various buy now pay later schemes that have grown significantly in the last few years. I don't think there is good data yet on how big that number is, but if I am wrong it would make for an excellent video :)
Get ready… for the greatest rug pull of all times!!
Awesome video, mate! Really well-researched.
I dunno guys. Most people with credit card debt drive much nicer cars than I do and have an RV to boot parked in their third car garage. I drive a 2013 Honda Civic and have $0 credit card debt. In fact, I'm doing quite alright. It really boils down to living within your means and not spending what you don't have. Most people in credit card debt deserve their fate, they shouldn't have the RV and the boat. Embracing the struggle and saving your money until you get to a certain point in order to 'get ahead' is what you need to do. My overall sympathy is pretty low.
The credit card debt is bad enough, but the money people have wasted on RVs, boats, oversized trucks, motorcycles and travel is extraordinary. Even if you have the the cash, it doesn't mean you can afford to waste those savings on an oversized toy. We are surrounded by people who are childishly self indulgent, and then they are broke or in debt when they reach retirement age.
Verse and versus are not interchangeable FYI...
the problem with these graphs - not adjusted for inflation, growing population/household size. The value of dollar has depreciated, everything costs more. so, it seems natural to have a "larger" debt in non-normalized terms.
I dont get using a credit card without repaying it a month later. Why would you even do it.
Like, seriously yeah? Are people THAT short minded where you are like "I'll wait a month, that will come next decade"
I can't even buy eggs without thinking why am I overpaying for these, could've gone there and got it for cheaper
Credit cards have destroyed many people's lives. However people also need to be accountable for their actions and do their research and homework first
I am probably misunderstanding the rationale and several comments below... but surely the idea to reduce interest rates on credit cards would encourage people to put MORE debt on their credit cards? I'm certain that would happen.
You can look at lots of problems in our current world as it going from a Christian society to a post Christian society. Usury is a sin for a reason, but obviously as we move away it isn’t obvious to those making decisions why the removal of this from law would be so damaging.
I hate consumer credit because it inflates prices. Those consumers who are willing to go in debt and pay usurious interest rates are the customers who set the prices for the rest of us.
Interesting video, thanks!
People aren't paying their bills!!!!!!!!!!
There should be rules for getting and continuing to use credit cards. Similar to buying a house, where you need certain income.
To me, an european, credit card is a weird thing. Never had one and donmt see a point in it. I mean, if I can't buy something small with cash I already have, I probably should not buy it. From smartphone to pizza. A house or a car is different story, but you should not use credit card for it.
There are rules for maintaining credit cards and credit lines. Haven't you been reading about people's credit card limits being reduced, and at times, credit card accounts closed? Financial reviews, constant credit monitoring...they're watching...
Rebel Economist Professor Steve Keen's analysis of the real cause of the Great Depression exposes this. Private debt excess presages "issues" {other known as "$hit $hit were fkd" 2008 is like WW1 differing to WW2!}
I think another issue is that you are taught to get a couple cards/lines of credit with different kinds of payments to get a good credit score
Taught completely correctly, but having a good score necessitates paying it properly.
i got a few cards to get a credit score and i bought a house then i maxed out all my cards and im not paying any of them off, easy 20k
0:18 In fairness, not having a credit card is objectively bad management of finances because credit card rewards are implicitly paid for by a combo of: cash/debit buyers, business revenue, and card company revenue. Not even to get into it being safer against fraud and whatnot. 100% of people should have credit cards, they should just use them responsibly by paying in full every month.
Humans are.programmed to want things we.dont need...that's where credit comes in..u want it?...here's a card that let's u get it...walk down any street..and the chances are u will have spent something on something u didn't want...
Mortgages..credit cards....store cards...holidays...deposit now...pay later...car loans...endless forms of credit to satisfy the hunger for stuff which we don't need but gives minutes of instant gratification...then u get it home..put it a cupboard and forget about it
@@darrenhudson5503Up your self discipline son. If you can’t handle the credit card, cancel it.
80% of people why accept the banks giving them a higher max balance will surpass their existing credit card balance at some point.
Stock market acted like nothing happened.
Interest rate caps would inevitably make the rich, richer and the poor, poorer. It's "Too Big To Fail" at the consumer level. If you want bigger businesses and bigger government, interest rate caps are a great idea.
"Specifically, caps on lending rates lead to a reduction in the overall supply of credit, with non-trivial effects
on financial inclusion as banks are forced to reallocate credit from small, risky borrowers to large commercial borrowers and
the government."
That's a sign that interest rate caps will happen.
Love your videos man!
Responsible vonsumers know that credit cards are a great and strengthening tool.
Great video!!! Thank you so much 💪
thank you!!
It might be more revealing to analyse this as a ratio of GDP or Total debt. The nominal value just isn't very intuitive to look at for humans
Ukraine 1 trillion.Isarel.
I am 22 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
I am 22 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
Yeah. Back in the day(2007) built up a credit line of about 250 k on thirteen cards. Then the companies realized there was a crunch coming. Bank f am. cut my line from 30K to 2K. for no reason. It took my FICO from 807 to 670 in one swoop. The other cards saw that and closed a bunch. A few years later my FICO was back to 823 , so I borrowed a bunch and defaulted. Now I'm at 650 again and in a few months will start it over again. Free money, can't beat it.
😂😂 only if you applied those brains in school... and the stock market
@@waysofzen Have a B.S. in Microbiology and had a nice portfolio until I got conned out of it.
@@dougsheldon5560 I've had to start over many a times in my life too. I try to get back up stronger than ever. I also try not to give into being self-serving like these Charltons around me. My edge over them is that they are predictable in their nature of greed and folly.
As much as I like Trump, I am deeply disappointed that that Trump wants to implement interest rate price controls on credit cards at 10%
That is price controls, and has been tried and failed numerous times throughout all human history!
Are you making a joke or what
@@milkdrinker7 Are you harassing me over a disagreement on politics or what