Lightsxo 🌈Jan 5, 2021Cant pickit seems like you understand it
Bro lmfao
Jan 5, 2021·1 reply
Side 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.
Exactly it's an option for people who want the capital to start something. You can live your entire life not choosing to take out a loan. If there was no financial incentive why the f*** would people just hand out large amounts of money they could potentially lose?
- Hi-C 🦌Jan 5, 2021·1 replySide 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.
Ahh yes, like you know... school which is basically essential to have any degree of social mobility and not be stuck working a factory job that will disappear in 10 years.
Or a house. Yeah definitely not a basic human right to have shelter.
Saying loans are only used for excess value isn’t really considering systemic oppression that had made it impossible for groups of individuals to even gain marginal opportunities at building their own wealth.
Jan 5, 2021Agree on student loans other than that it makes sense or there would be no incentive to invest in anything
- Jan 5, 2021
u·su·ry
/ˈyo͞oZH(ə)rē/
Learn to pronounce
noun
the illegal action or practice of lending money at unreasonably high rates of interest.
"the medieval prohibition on usury"
Similar:
extortionate moneylending
payday lending
loan-sharking
offensiveshylocking
ARCHAIC
interest at unreasonably high rates.
Definitions from Oxford Languages - Hi-C 🦌Jan 5, 2021·3 repliesSide Nigha
Because that is how the world works. Incentives drive productivity.
Why would you do anything in life unless it serves some sort of benefit to you?
Lmfao your neoliberal ass gotta go
Incentives drives productivity is such a s***ty conservative take.
Counterpoint: being a landlord. There is no incentive for landlords to renovate certain properties if you are in it for profit alone. That doesn’t drive productivity.
Capitalism doesn’t incentivize productivity, it actually works in the opposite direction. The less productive you are, the more you gain. If you own capital, you don’t have to do s***, you pay others to do the work and reap the rewards.
Jan 5, 2021PainPapiis dr peterson what people immediately think of when someone brings up basic evolutionary psychology these days
Nah the pairing of psychology to defend neo-liberal capitalism (or rather absolve it from any critique) is what made me mention dr.peterson.
- Hi-C 🦌Jan 5, 2021·2 replies
The amount of stupid ass neoliberals who cape for CEOs and capital owners while also seeing none of that reward on here is kind of disgusting. You think any person who owns a corporation did it ethically and didn’t have to exploit people to do it?
“Incentivization drives productivity”
- Lightsxo 🌈Jan 5, 2021
If you don’t want to pay interest don’t take out a loan
Easy solve.
- Jan 5, 2021·1 replyHi-C
Lmfao your neoliberal ass gotta go
Incentives drives productivity is such a s***ty conservative take.
Counterpoint: being a landlord. There is no incentive for landlords to renovate certain properties if you are in it for profit alone. That doesn’t drive productivity.
Capitalism doesn’t incentivize productivity, it actually works in the opposite direction. The less productive you are, the more you gain. If you own capital, you don’t have to do s***, you pay others to do the work and reap the rewards.
um landlords renovate properties for the sole purpose of driving the value up
- Jan 5, 2021Hi-C
The amount of stupid ass neoliberals who cape for CEOs and capital owners while also seeing none of that reward on here is kind of disgusting. You think any person who owns a corporation did it ethically and didn’t have to exploit people to do it?
“Incentivization drives productivity”
CEOs and corporations can at least afford to sell equity
If you remove debt ur mostly f***ing over small businesses - Lightsxo 🌈Jan 5, 2021·1 replyHi-C
Lmfao your neoliberal ass gotta go
Incentives drives productivity is such a s***ty conservative take.
Counterpoint: being a landlord. There is no incentive for landlords to renovate certain properties if you are in it for profit alone. That doesn’t drive productivity.
Capitalism doesn’t incentivize productivity, it actually works in the opposite direction. The less productive you are, the more you gain. If you own capital, you don’t have to do s***, you pay others to do the work and reap the rewards.
This isn’t true at all lol
- Hi-C 🦌Jan 5, 2021PainPapi
um landlords renovate properties for the sole purpose of driving the value up
Oh gentrification?
Yeah that’s a different thing. I’m talking about people who specifically rent in urban areas who buy up awful properties with no intention to ever renovate and take advantage of the poor people who live in the area who basically plan to take their deposit and evict them for any minor nuisance. It’s predatory as f***.
- Hi-C 🦌Jan 5, 2021·2 repliesLightsxo
This isn’t true at all lol
Way to counter my argument. It’s absolutely true. You don’t think slum lords are a thing?
- Lightsxo 🌈Jan 5, 2021Hi-C
Way to counter my argument. It’s absolutely true. You don’t think slum lords are a thing?
Speaking as a landlord, we need to make capital improvements to the properties just to remain competitive in pricing.
If you let it go to the bushes then rent falls and then the investments gives less return.
You cannot be this dense
- Hi-C 🦌Jan 5, 2021·2 replies
Have people legitimately never heard of slum lords? Or are y’all just that ducking privileged thet your parents just pay for all of your s*** and you think being a landlord actually is a legitimately equitable way to make money
Jan 5, 2021thread just gets worse and worse
- Lightsxo 🌈Jan 5, 2021Hi-C
Have people legitimately never heard of slum lords? Or are y’all just that ducking privileged thet your parents just pay for all of your s*** and you think being a landlord actually is a legitimately equitable way to make money
It’s. An. Investment.
- Hi-C 🦌Jan 5, 2021·1 reply
Lol which means that it’s a problematic system. You literally are admitting it’s faulty and set up by design.
- Jan 5, 2021Hi-C
Ahh yes, like you know... school which is basically essential to have any degree of social mobility and not be stuck working a factory job that will disappear in 10 years.
Or a house. Yeah definitely not a basic human right to have shelter.
Saying loans are only used for excess value isn’t really considering systemic oppression that had made it impossible for groups of individuals to even gain marginal opportunities at building their own wealth.
School is not essential to build wealth. It’s a great tool, but not a necessity. But if you do want to go the educational route you don’t have to leverage yourself to the t*** in debt to do so. There’s smart ways to acquire an education for cheap.
You don’t need to take a loan out for a home, is it commonplace and advisable? Sure, but not a necessity. I’d argue you should and that’s a good use of leverage though. Maybe reread my post. There’s also other ways to have shelter without buying a home. Most notably, renting. Again, I’d recommend equity any day over renting, but it is an option if you care so much about avoiding loans. It’s not a ‘necessity’ but rather a boost to your financial situation. As I said in my first post “adding excess value”.
- Jan 5, 2021Hi-C
Lol which means that it’s a problematic system. You literally are admitting it’s faulty and set up by design.
no one is arguing that its not broken holy s***
- Jan 5, 2021·3 repliesHi-C
Lmfao your neoliberal ass gotta go
Incentives drives productivity is such a s***ty conservative take.
Counterpoint: being a landlord. There is no incentive for landlords to renovate certain properties if you are in it for profit alone. That doesn’t drive productivity.
Capitalism doesn’t incentivize productivity, it actually works in the opposite direction. The less productive you are, the more you gain. If you own capital, you don’t have to do s***, you pay others to do the work and reap the rewards.
This is such an ass backwards take. Oh god here come the stupid socialists. I don’t got time today. “The less productive you are the more you gain”.
- Jan 5, 2021·edited·2 repliesHi-C
Have people legitimately never heard of slum lords? Or are y’all just that ducking privileged thet your parents just pay for all of your s*** and you think being a landlord actually is a legitimately equitable way to make money
also great assumption d***head, and of course no one is going to renovate a house in the slums, property valuation takes in socio-demographic factors of whatever area its in, there’s no incentive to renovate a house if the collar behind the investment thinks its going to be trashed, at the end of the day they’re going to get money from it one way or another and thats all that matters to them
- Jan 5, 2021·2 replies
Actually interested no pun how do muslim countries do without interest
