Thom vs Wayne Root - Payday lenders - necessary evil or loan sharks?

[atoms2atoms]

Complexity is how Wall street steals.

[conradjulian]

I don't have a problem with payday loan businesses. They charge high interest rates because they're lending to people who are bad credit risks, often because of stupid lifestyle choices like getting knocked up in their teens; dropping out of high school; buying alcohol, tobacco, junk food and lottery tickets instead of living frugally, etc.

[conradjulian]

Libertarianism is really more about class snobbery. Libertarians love military dictatorships which suppress the mob's freedom as long as the dictators maintain a good business climate.

[mikepalomino]

Libertarianism should considerd a religion: its adherents worship at the altar of this mystical "Free Market" - speak of Economic Miracles that never were - And offer up only platitudes and half-truths as evidence.

This guy Wayne Root is the epitome of this religious fervor. His ignorance shows when compares Haiti to Chile.

His use of the Chilean "Miracle" is particularly telling.

Do a search for "The Chicago boys

and the Chilean 'economic miracle' " by Steve Kangas for more info.

[shakaama]

@mikepalomino wayne root is not a libertarian.

A libertarian would have said, if the country liberterian there would not be a need for payday loans because the economy wouldn't be lopsided and corporatism [no capitalism] would not exist.

[mikepalomino]

@shakaama I see what you're saying. But that's kind of arguing semantics. A person's political / economic alignment is set by the beliefs & tenets they espouse not external factors that seem to contradict them.

(I think a fair analogy would be to argue: Is someone NOT a Christian because other Christians act less-than-virtuous and in contradiction to Christian teachings?)

The guy clearly believes in free market ideals which he is espousing, even if its to the detriment of inner city residents.

[shakaama]

@mikepalomino no no Wayne Allyn Root is not a Libertarian. I'm trying to get him ousted from the party. He weaseled his way into the party and weaseled his way into the vice president candidate position. NOW he's trying to weasel his way into the chairman of the libertarian party position.

He is not a Libertarian. He is a card carrying member of the Republican party and is trying to force the libertarian party into the tea party and under the thumb of Karl Friggin Rove. this guy is a sham

[mikepalomino]

@shakaama Oh... I see. I guess you know more about him than I do lol - sorry for the confusion : )

[jimlaregina]

Thom is right to say there is no such thing as a "free market."

[MaryJesusJoseph]

I'm kind of stunned you could find anyone to say this is a good thing. I'm not sure you can say this libertarian has a conscience when he's supporting legal loan sharks. I'm sure they would never support raising minimum wage or fair pay.

[shakaama]

@MaryJesusJoseph he's not a libertarian

[sonnybrakes]

a social evil is exactly what it is and it is wrong.