Trump just running up the score at this point
- Thread starter JohnHughsPartner
- Start date
Sounds like a blatant attempt to buy votes but it's too bad he can't legally require them to do it without Congressional approval and since he treats the Congessional branch like a red-headed stepchild, these are just empty words. Pretty but empty.
Aaaannnnddd lying? He doesn’t have these powers.
Or there is already a bipartisan bill in Congress and trumpster just wants to ride those coat tails like it was his idea and he did something.
You're the only one who will be FAFO'd when you realize you still can't pay off the balance you ran up on mommy's credit card.
Yes, like Hitler he's impotent and cannot do this by himself.He’s literally Hitler
Let me ask. Do you think this 10% cap on credit card interest rates is going to become a reality? Your use of the term "Trump kicking @$$" suggests that you do. Which, although you certainly did not intend it, is pretty damn funny.
I realize that its not a guarantee. Let's see what he makes happen. He's pretty good at making things happen.
This is a terrible idea. Just going to encourage more debt. Not to mention it’s a clear overreach into the private sector. And htf are CC companies going to continue to afford the rich benefits and points on my Amex platinum, delta reserve and sapphire reserve cards? Those save me thousands per year.
IMO, it would never pass Congress without trump backing. Do you know how strong the financial services lobby is in DC. Every member has a bank or some financial service company on his/her district. That's jobs. One thing members understand is creation or loss of jobs in their district. And credit card companies will have great calculations on the number of jobs to be lost when their revenue is decrease by half....or if they have to eleimate cards for lower income people.
Besides, I'm not sure Trump has the authority to just implement thing. But who knows, he seems to be on a roll.
Yep. The dumbasses who pay 20%+ interest help finance my family’s vacations. Let’s keep that train rolling.
Lowering interest on usury type loans is ridiculous. I can’t believe he’s trying to get relief to Americans. This is crazy. What amendment is being violated here? The CC companies must be allowed to charge 30-40% interest rates. Cheeto man is such an embarrassment, who’s he think he is trying to help middle class Americans. Absolutely vile.
What’s the appropriate POA here then? I see you typically just **** on Trump. What would have been acceptable to you?
I was not a fan of student loan forgiveness and not a fan of this either.
This is even worse bc you have the government telling private companies what they can charge their customers, especially when they and their customers have a binding agreement.
so funny to see all the cult members in here excited about this. They would hate it if Biden had propelled it.
beside the point. If he had you would all be screaming socialism! Communism! But Trump says it, and it is the greatest idea ever.
and make no mistake. This is a very dangerous road to go down. I can’t imagine in my own business if the government showed up one day and said that I can no longer charge my clients what they already agreed to pay.
This sounds like a great idea…if you want to eradicate consumer credit liquidity for millions.
20 percent interest exists for a reason. It’s a risk hedge. Take away the hedge, take away the willingness to risk
I don't think everyone has said "greatest idea ever". I know I didn't. But unlike Trump's "best idea ever, never been an idea like it" sayings, I also have trepidations. And as I posted I am not a fan of government ownership in American businesses.
If Biden would have done the same thing, I guarantee I would not have yelled "socialism or communism".
My point to you was that this is not the first time the government - federal or state - has gotten involved in the free market system. Heck, the entire housing crisis was caused by government intervention in the markets
What happened to MAGA being against big government introducing on private enterprise?
Another dumb tweet geared towards the uneducated MAGA crowd.
Another dumb tweet geared towards the uneducated MAGA crowd.
No one ever accused them of being intelligent. Point in fact, many are mentally weak - it’s why/how they can be manipulated to proclaim something contrary to obvious evidence. They can’t think for themselves so they become megaphones for whatever is the new narrative within their echo chamber.
It’s quite clear the administration doesn’t have any unique ideas on how to address affordability. Instead, they’re opting for these zero impact EOs (announced via Trump’s twitter) to provide the allusion that Trump is actively addressing affordability.
MAGA loves social issues because they’re generally a matter of person opinion/perspective. Unfortunately for them, economic and financial topics require some degree of education and sophistication to engage on.
not sure I agree with your first statement. Going after the high gas prices was a necessary first step and depending where you live and get gas prices are down as much as $1/gal since Jan 20th. Low gas prices should translate into lower transportation costs for good as well as lower farming costs.
Going after mortgage rates and the most recent credit card rates (not that will ever happen) are also important cost reducers. I'm not sure in the short term what can be done to lower housing prices, short of reducing demand, and I just read that we're 4.7 million units short. It will take a while to get that many units on the market.
Importing more beef and eggs (when that was an issue) helped consumer prices and prices from some cereals have decreased.
So the admin has some unique ideas if you assume Biden didn't come up with the same things.
Now tariffs are a drag on prices and I'm not sure we've seen the impact of them yet. But trump's removal of some - coffee, furniture - show a couple of things, first he understood the cost impact to consumers and second, he made a mistake in implementing them.
And, on the other side of the equation, real wages have gone up since 1/20.
So, while we have a way to go, some prices are coming down