/biz/ - Business & Finance

It's almost as if someone is trying to keep poor people poor.

>>11363891
More work and more risk for your wagekek fag loans.

>>11363891
>payday loan
>credit card
>car loan
retardation

>>11363933

1,5% on my delicious almost new car loan.
Enjoy riding the bus.

Loans can be your friend if you know how to manage them.

>>11363891
>billions and billions of dollars in TARP money given to the banks to save the financial system
>0% interest rate

>>11363961

How do i become a bank?
I want to borrow some billions for 0% also.

It's almost as if the system is rigged or something?
MIND BLOWING ISN'T IT?

>>11363891
When small debtors can't pay back, it's a loss/writeoff

When big debtors can't pay back, it's a bailout

wow its almost like larger institutions are more reliable than a deadbeat trying to get a payday advance

>>11363986
>reliable
>all go broke circa 2008

>>11363891
Where interest rates are that high? My car loan interest rate is 0,5%, credit car is under 4%, mortgage 0,9%.

>>11363914
>People with money should just lend people without money without expecting any return

What is the time value of money?

>>11364007
nothing kike

>>11363994
>reliable
>reliably lose every dollar they ever made and then some during any kind of economic turmoil

The better inference is that maybe they're not playing the same game of profits and losses as everyone else. JUST MAYBE they have huge financial incentives (bailout) to ensure that when the inevitable fuckup happens, they would do so much damage to the economy (depositors losing all their savings etc) that lawmakers basically have a gun to their head whenever a bank gets in trouble.

>>11364031
Brainlet detected

>>11363948
>Enjoy riding the bus.

s-shut up

At least i can take a nap while the bus takes me to the wagecuckery at 7am. It's like 1 additional hour of sleep for free, because (you) have to stay awake while driving AND you have to pay insurance AND you also get cucked by the loan.

carfags BTFO.

>>11363891
>knowing you will forever be Shylock's debt slave- priceless

>>11363891
Where do I get an investment loan at 2% op, send that shit my way

GAS THE KIKES

RACE WAR NOW

>>11363914

>>11363891

got 1.85% interest rate on my mortgage (200k)

>>11364104
>be me
>NYC carfag
>live quiet, white, suburban neighborhood
>ample street parking
>drive a beater so no payments
>reverse commute to suburbs
>no sitting hobos or ratchet normies
>all perks of the city without living like a canned sardine.
>food delivery as a side gig- my car pays for itself
>can go anywhere I want without relying on a bus schedule
>can help out friends and family when they need a ride = appreciated by people, feeling of usefulness and purpose in life
Cope harder, busfag.

>>11364148
>Working 2 jobs

Why would anyone want to do this? Not even the guy you replied to or a busfag, but I'd rather ride the bus than work two jobs.

>>11364163
So I have more money to put into crypto? What kind of question is that? I'm a New Yorker, you gotta hustle here to make it.

>>11364163
Also free pizza, get paid to literally just drive around lisyening to music, work with a bunch of degenerates, it's pretty dope.

>>11364148
>drive a beater
>one morning car breaks down
>"oh noes, i'm going to be late, Mr. Goldberg will be mad at me again! I already have two streaks, can't afford to get fired now! I'm already late on my rent this month!"
>desperately looking for a cab
>all are taken
>have to pay extra to catch one in a nick of time
>still late to work
>Mr. Goldberg rubs his hands in glee as he fires you for being late
>meanwhile busfags get bonuses and promotions for being diligent and punctual

carfags absolutely BTFO

>>11364212
>I gotta have a car to be able to work an additional job to afford a car
>I could just take public transportation to work one job and still have enough to invest in my internet coins

Not going to make it

>>11363891
almost as if you get a discount when you buy in bulk

>>11364238
>taking a crowded bus full of dindus
>ever
I've done it, absolutely not happening again.
>not hustling to your fullest potential to escape a life of wagecuckery
>making fun of cars
Eurocuck confirmed. You are the one who isn't going to make it
>>11364234
>implying they don't love me at my job
I do in fact work for a Jew but is never around because he pays people to worry about the business for him. They will not fire me and I am comfy.

It costs me $9.42 in fees and takes 1.5 hours to take public transport to work and back.

On the other hand it costs me $4.25 in fuel and takes 40 minutes to drive to work and back.

>>11364280
This too. 20 minute drive vs 1 hour on public transit

>>11364280
>$4.25 in fuel

you forgot to factor in insurance + maintenance costs + vehicle tax + annual technical examination fee + unexpected repairs (if you have an old car) / car loan (if you have a new car)

>>11364139
isnt that lower than the rate of inflation?

>>11363891
>>$1,000,000 mortgage - 5% interest rate
Got 1.1% on my 300k€ interest rate. Where do you find such ridiculous rates ?

>>11364393
i dont get it, why would a bank lend out at 1.1% when its lower than inflation?

>>11364393
You do understand that different countries have different interest rates, right? The OP statement is broadly true.

>>11364438
Because getting 1.1% is better than getting 0%.

>>11364438
Here the central bank rates are about 0%.

>>11364438
because bank can lend out that amount to 10 people if they hold that in their reserve.
-> their reserve gets hit by inflation -1.1%
-> they get paid 11% in interest

>>11364457
>>11364458
true, but their asset (the loan) is losing value every day due to inflation.

>>11364483
suppose this makes sense, inflation is a banks best friend when they have a big pile of debt owed to other institutions

>>11364007
you're right, anything less than 400% interest is no return at all

>>11364067

The “too important to fail” thing is what is said publicly. In reality, bailouts were just politicians doing the bidding of their corporate masters under the guise of “muh workers and economy.”

>>11364539

>suppose this makes sense,

It doesn't, the guy is a retard and you are gullible

>>11364752
dont be rude

>he thinks the bank is stupid
It's all about credit you retarded mongs.
The type of people who take out payday loans are exactly the type who most likely won't be able to pay it back.
The chad who needs 20 milly on the other hand is probably spending it on his business/other investments and has miles and miles of collateral to cover the bank's ass in the worst case.

>>11363891
Stupid goy.

>>11363914
Almost like lending to poor people is way riskier because they're so shitty with money.

>>11364755
>I'm a retard who wants to be poor

>>11363891
>$20,000 car loan - 14% interest rate
nani the fuck

>>11364981
but im not the ecb nor do i live in europe anon

>>11363891
who the fuck gets
>20% credit card? barclays is 8%
>14% car loan i got a $40,000 and it was 5%?

>>11363891
I know of only one way to escape this. You know what to do.

Don't you see? The interest rate trickles down.

The system works.

>>11363891
i'm an engineer at a payday loan company

>poor people suck and don't pay us back
>we have to charge that much money in order to make a profit
>even with charging that much we barely profit
>most of our profit comes from "serial borrowers" who can't actually pay us back so they immediately take out another payday loan when they pay one off

yeah there's a reason they're poor and that's why they pay more.

>unsecured loans have higher interest rates than secured loans

good thread op. really made me think

>>11363891
That's because poor people suck at money, so they need to put higher interest to still profit from all the losers that can't pay.
Not trying to justifiy jewishness, but if I was in their place I would do the same thing.

>>11364003
How did you get a .9% interest rate on your home?

>>11365310
Guess who eventually pays.
Everyone else including you.

>>11363914
shut the fuck up goy

>>11366705
>recklessly lend to people who can't afford it
>make profit off the top of the loan
>uh-oh, turns out these people can't pay back
>socialize the losses across the entire economy
>don't socialize the gains across the entire economy
Can't wait for this bullshit system to die. Boom and bust cycles are completely unnatural and a cancer on society.

Friendly reminder that banks are an oligopoly and this sort of lending is intrinsically value destroying withing the societal production boundary, despite this sort of lending looking good on banks balance sheets and fluffing the GDP growth due to FISIM calculations

It shouldn't be hard to understand, that lending to build wealth creating assets makes sense, lending to purchase consumption or bad (risky) investments sucks wealth out of society. In addition, it shouldn't be hard to understand that when a company makes profit, dividends, new acquisitions that load companies down with debt etc are all a value extraction mechanism that often take any profits And usually a chunk of the original equity. Businesses making profit should exclusively reinvest in more business, wealth creation, r&d, etc etc - NOT have their value extracted and then put into financial products, to be traded around in circles by the oligopoly of banks until society realized the value was destroyed and we end up with 2008 all over again.

Banks know this but don't care, because they know they can make these value destroying loans (high risk loans) without actually bearing the risk, because tax payers are the ones bearing said risk.
This is how 2008 crisis happened, and how the next one will happen. Banks and the finance sector are rent seeking leeches that destroy a considerable portion of the wealth society creates, and either need to be stopped with regulation or forced to ACTUALLY compete (no bullshit protection from governments)

>>11364139
I have 1.49% on 190k, current canada inflation is ~3%. Feels good man.

>>11363891
>$500 pay day loan - 400% interest rate
High risk, zero collateral if the lendee never pays back, lendee likely doesn't have a bank account or give a fuck about their credit score, not worth the cost to hire a collection agency.

>$5,000 credit card charge - 20% interest rate
High risk, zero collateral if the lendee never pays back, but the lendee is more likely to pay it back because they have to have a a decent credit score and proof of income to be approved for the card in the first place.

>$20,000 car loan - 14% interest rate
High risk but can highly depreciated car as collateral in the case of non-payment or default.

>$100,000 business loan - 8% interest rate
Moderate risk since the loan will be used to generate income. Will likely have a significant amount of assets as collateral.

>$1,000,000 mortgage - 5% interest rate
Moderate risk, collateralized by the house itself, and subsidized by the government to encourage home ownership.

>$20,000,000 investment bank loan - 2% interest rate
Low risk because the loan will be used to generate profit but with intensive due diligence, auditing, and assets up for collateral.

>what is risk
>why can't jamal get a 20 mil loan for the (((banks)))
>must be a conspiracy or something