I blame my family. Curse them for making me curious about the state of politics in this country! And it seems that the state is “we tell them what they’d prefer to hear, rather than what’s true,” at least as far as encouraging fiscal responsibility is concerned. “Consumer advocacy” should stand for making sure consumers get a fair deal, rather than deny them the option to do whatever the hell they want. Unfortunately, that’s what some groups intend to do, what with that new payday loan cap.
I talked to Marcelo, the guy behind the counter at the center down the street, and he was worried that they might have to close up, because their overall profit margins were thinner than the envelopes Wal-Mart benefits packages come in. So many people skip out on the loans they take that the higher fees are what they need to stay afloat, and they’d never get that money from most people even if they WERE as horrifying monsters as the media and advocates make them out to be (protip: they aren’t).
If we’d learned anything from the state of the economy, it’s that risk should levy appropriate costs. Hedge fund CEOs and the golden-parachute execs of the corporate fiascos this decade took such gigantic leaps because they had no personal investment in the moves they took. They’d make out well either way. Not the best of plans for folks who WEREN’T them. On the smaller scale, subprime borrowers are high-risk, and thus should be willing to shoulder higher fees. Credit unions, churches and the like are hawking alternatives to this “menace” but really, how much money and customers can they afford to carry? Can they shoulder the estimated 5 million that take out these loans in the name of public safety? Doubtful.
All that’s happening here is that people are going to lose another options, and the subprime sinks lower.
Honestly, do we need to “admit” it? Something like 80% of Americans have played some form of video game, and yet when we say we do, we’re labeled as socially retarded basement-dwellers. And yes, I live in a basement, but that’s because my landlady had converted it into a perfect little studio. So SHOVE IT. And why are we constantly subjected to “expert” debates featuring people who’ve obviously only heard about games from picket lines claiming they were Satan’s own creation? I’ve always thought that Fox News got a bad rap for being a conservative mouthpiece (sadly, conservatives are not good comedy writers), but this sort of drivel:
is what gives its critics ammunition. Geoff Keighly has the upper hand in logic and common sense, but he’s clearly being railroaded by the pundits.
And what was with MacCullum? What the hell was she thinking by saying “yes, UNFORTUNATELY” to “it’s up to parents to control what their kids are seeing?” Jeez.
All the media attention this month has made everyone a pundit, it seems. My auntie Lexy was visiting this weekend from Madison, and after rearranging my furniture, she noticed a payday loan shop down the street. And as aunts do, she went flying off the handle. My modest neighborhood was transformed into a ghetto in her eyes once she spotted it. Payday lending was the source of all the troubles of the world, their being legal loan sharks, she said. “500% percent interest year!” she said, “those things should be banned, so the crackheads and gangbangers all go away!”
Now I’m hearing “payday lending” everywhere. It’s like a political version of last song syndrome (betcha didn’t know that was a syndrome!). It’s everywhere, I tell you. In the Union Leader.
It’s my understanding that most payday loans last a couple of weeks, a month at most. So why is everyone whining about a yearly rate? That just makes them look ridiculously high. And who takes out a payday loan FOR A YEAR?! That’s what banks and family members are for!
And why FORCE a 36% rate cap? Anything over 36% is driven by the cost of wrting such a high risk loan for such a small amount. forcing a rate cap is just a sneaky way of hamstringing these businesses and forcing them to go under. Then what will the people who need these loans do? If someone knew a way to make it work at lower rates, they’d be doing it. Last I checked, credit unions and church orgs are also offering alternatives to their members/congregations, but they’ll be taking a loss. More options are better, which is why there are 31 flavors at baskin-robbins and why there are just as many places to get a payday advance as there are ways to buy a subway. But hey, I’m just a guy with a sweet hat.
Days and days later, the biggest event of every 4 years happening, and where was our noble rider?! Sick in bed! So sick the internets could not help?! Yes, I say. But not sick enough to rock the vote, with the lord as my witness. Watch as I eat a Huckaburger, then go to the toilet to drop a Barack O-Bomb. Of course, I mean no offense to either of our two victorious candidates.
I’ve discovered an interesting site that possible has more credibility than any professional game journalism site I’ve seen besides Game Politics. It’s called the escapist, and for “comedy relief” it contains video rants by a charismatic stallion named Yahtzee. Check it out and turn your christmas cranky.
Filed under: News
For an area known as “New England”, we’re rather patriotic about America, aren’t we? Funny thought, that.
Anyway, kids, you’ve until April Fool’s to tell us, in writing, why liberty (or rather “Human Energy and Individual Freedom) is no fool’s errand. You might win a c-bill.
On a personal note, just a hundred? Make it double, then the kids can grab a copy of Rock Band.
I’ll have you know that I’m not going to make every post a video embed, I just happened to find a few worth putting in…
The Japanese seem completely committed to replacing us with cute, saucer-eyed software-powered robots, and this is the next step. It’s a program called Vocaloid, with a mascot voice named “Miku Hatsune”. This is “her” singing the march cadence from “Full Metal Jacket”. The engrish is almost incomprehensible, but hilarious (“she’s” apparently more proficient singing in Japanese). The language may not be safe for work, but CLICK IT ANYWAY.