sabbaroni 🧔🏻Jan 5, 2021·1 reply
Side Nigha· editedLol it’s basic psychology and evolution. If something does not bring you some sort of benefit, why would you do it? Even ‘selfless’ acts like charity bring you some intrinsic psychological sense of good. Whether the benefit is ‘emotive’ or monetary is irrelevant.
what are you even talking about? people do self-destructive things all the time. it’s not basic psychology at all lol
- Jan 5, 2021·1 replysabbaroni
what are you even talking about? people do self-destructive things all the time. it’s not basic psychology at all lol
Way to pivot lol
OPJan 5, 2021·1 replySide NighaThis is horrible logic. First of all they do not NEED the money. Who in their right mind is taking out loans for food and basics? Virtually no one. People take out loans on ventures or assets they believe will add EXCESS value to their lives.
Also recognize that virtually every institution or business out there has some outstanding debt. A loan does not mean you are impoverished. Aapl, the biggest company ever, has 200MM in outstanding debt, but they are in better financial shape than the vast majority of their creditors.
It’s simply a tool to allow more liquidity and leverage. Unfortunately most people do not understand it but that is irrelevant to it’s ‘intrinsic morality’. I will agree of course that predatory loan structures like the pre-2008 mortgages are cancerous but that is not representative of what debt/interest at large is.
the idea of interest does not only apply to loans. credit cards for example which someone may use for example are a prime example of why interest is immoral and wrong.
- OPJan 5, 2021Side Nigha
Lol it’s basic psychology and evolution. If something does not bring you some sort of benefit, why would you do it? Even ‘selfless’ acts like charity bring you some intrinsic psychological sense of good. Whether the benefit is ‘emotive’ or monetary is irrelevant.
nah man you just a greedy motherfucker
Jan 5, 2021your not wrong
- Jan 5, 2021Side Nigha
This is horrible logic. First of all they do not NEED the money. Who in their right mind is taking out loans for food and basics? Virtually no one. People take out loans on ventures or assets they believe will add EXCESS value to their lives.
Also recognize that virtually every institution or business out there has some outstanding debt. A loan does not mean you are impoverished. Aapl, the biggest company ever, has 200MM in outstanding debt, but they are in better financial shape than the vast majority of their creditors.
It’s simply a tool to allow more liquidity and leverage. Unfortunately most people do not understand it but that is irrelevant to it’s ‘intrinsic morality’. I will agree of course that predatory loan structures like the pre-2008 mortgages are cancerous but that is not representative of what debt/interest at large is.
The assumption that someone could never be in a position to where they would have to use a loan to pay for necessities in life (food, shelter/rent, or just having more money to get thru regular life until they are working stable/getting regular checks) and other similar assumptions that solely rely on how you grew up is how society/humanity as a whole got here re: capitalism
"virtually no one" nigga thats still a large percentage of people in a world of billions lol
- sabbaroni 🧔🏻Jan 5, 2021·2 repliesSide Nigha
Way to pivot lol
you gave a null hypothesis. i returned a statement to prove the null hypothesis wrong.
- Jan 5, 2021
thats why the jews did banking cause it was immoral for either religion to do what they did
its not anti-Semitic its just what happened
- Jan 5, 2021
hope to not see any ADL simps come and try clap me
Jan 5, 2021·1 replybanks and other lending places are businesses
how else would they make money
and what incentive would anyone have to lend money if they would get more in return
Jan 5, 2021Side NighaWhy would someone give you money you do not have for free.
It’s a way to boost liquidity and spur spending and therefore increase economic productivity. This is basic finance.
- Jan 5, 2021
Is this a "The jews" type thread?
Cause.... some of y'all..
Jan 5, 2021it's the lender's way to make risk palatable
you utilize their time and money to do what you want, there has to be something for it to make sense for lenders in return
- Jan 5, 2021·1 replyCody
banks and other lending places are businesses
how else would they make money
and what incentive would anyone have to lend money if they would get more in returnhow about eliminate the idea of giving out money to people if its useless to you without later profiting from it
in a pure business/investment/etc. setting where it's purely based off collecting from a business bc of your initial investment, fine.
but giving loans to regular people for school or just money for life knowing that it's highly unlikely they'll ever be out from under debt with you is f***ing sick
- Jan 5, 2021·2 replies
also not even hiding the anti-semitism itt
- Jan 5, 2021·1 replySolidSnaku
also not even hiding the anti-semitism itt
where is ur avatar from
- Jan 5, 2021Faygo
the idea of interest does not only apply to loans. credit cards for example which someone may use for example are a prime example of why interest is immoral and wrong.
Well obviously, but credit cards and loans are a similar concept. Interest still applies, of course with cards it will often be much higher interest and there’s different term structures but ultimately the same concept. There is more money being transferred through interest on loans than credit cards though so I would maybe change the title of the thread if you wanna focus on that.
- Jan 5, 2021user
where is ur avatar from
flcl
- Jan 5, 2021
PS. i don't believe the jews run the world thats not factually true they been hated for very long time
Jan 5, 2021·1 reply
Did he get a perma just for that?- Jan 5, 2021·2 replies
what is the logic behind the "the jews" posts ITT
and what is the logic behind it being anti semitism
im lost on both sides
im somewhat aware that "people" say that jews are all powerful in hollywood/banking but i never really got into it
genuinely asking
- Jan 5, 2021·1 reply
Because no one has to give you money anyway
- Jan 5, 2021·1 replyOoo
Because no one has to give you money anyway
So why dangle that option in front of broke people knowing that its going to just trap them into debt lol
Like why was that accepted to begin with
- Jan 5, 2021·1 replyuser
So why dangle that option in front of broke people knowing that its going to just trap them into debt lol
Like why was that accepted to begin with
To get more money
- Jan 5, 2021SolidSnaku
also not even hiding the anti-semitism itt