This is stupid back in 2002 he warned us of too much spending and the housing bubble. He didn't support the bailouts, all he wants is small government and a free market . People don't understand soon enough you won't be able to but crap on you Credit Card and suffer much worse.
All of your videos expose you as a collectivist. Not a free-market advocate. Therefore I consider you my enemy or foolish dupe of the left. Which is it?
Besides the fact that I disagree with your biased, incomplete and twisted political loyalties, you do have good skills at video production. Too bad you cannot see the errors of your ways and come over the side of freedom and liberty for the individual. True freedom is not without its problems but it beats your communist style collectivism!
This vid makes me like Ron Paul even more. . Govt has no right to "clamp" down anything to do with private contracts, unless of course fraud was committed then govt can enforce the law.
Ron Paul supports the protection of contracts, as the Constitution requires. All these people who spend beyond their income all agreed to a contract before using these credit cards. If they didn't understand it then they shouldn't have agreed to it.
The problem of high credit card interest rates is much deeper than this single piece of legislation. It stems form our entire financial system, and monetary system. A simple bill won't fix it. Look at the big picture Mr. Big Brother
i find it scary that you think the government has the right to change or void private contracts at will. you sign a contract when you get a credit card....don't buy things with money you don't have. If we did that, we wouldn't be in this mess. you are completely clueless! I take it you supported the bailouts for the banks too. Explain to me where in the constitution does it give the federal government the power to void contracts??? If you had it your way, government power would be limitless.
government is only there to protect you against a breach of contract. that is its only constitutional power regarding this issue. so correct, government can't change private contracts. And if credit card companies breach contract, they are punished. But the legislation you are referring to basically tells companies what interest rates they are going to have and when. sounds a little Stalin-esque to me. People should read what they are signing up for or not sign up at all.
@UnsavoryMen actually any contract for a credit card will state that they have the power to change interest rates and fees with given notice to the customer, in better legal terms of course but this case has been fought and lost numerous times
guys you are idiots RP openly opposes the federal reserve and the current financial system. and quite frankly like me...you are in canada and like most of my fellow canadians you probably bought all of that "change" and "hope" bullshit obama promised. have you even read the guy's history in congress? its pretty scary
This video is not about Federal Reserve. It is much better to share your grievance about Federal Reserve on relevant videos.
Though it is not related to this video, since you brought up the issue of 'hope' and 'change' actually I'm disappointed at Obama for not moving towards single payer health care system
Acutally I find Ron Paul's record in Congress scary. He tried to dismantle things like workplace Health and Safety Act, tried to bailout private nursing homes out of tax payers' money etc
@UnsavoryMen Your dual citizenship doesn't mean shit to me! Have you read and support the US Constitution or NOT? It is VERY clear you do not! You have loyalties to something other than to it and are clearly a left of center collectivist that loves a government solution to every "problem". Attitudes like yours leads to tyranny of government and therefore you cannot be trusted. I suggest you open your closed mind and read The Law, by Frederic Bastiat, available online. You can escape ignorance!
He voted agianst it because it does not address the problem, its just more political hoop jumping.
The problem is the FED setting artificially low intrest rates which cause people to make bad decisions they would not have made if the intrest rate was determined by the market forces. When interest rates were at 1% A few years back..everyone couldnt wait to take out loans, it was free money.. but debts have to be repaid sometime.
The federal govt has no authority to force laws appon the states get over it. I tend to try not to make judegments apon people but you unsavorymen are very confused about how the country is intended to run why i dont know but the fed has no authority to pass laws apon the states. If you dont like that paolice get active in state politics. propisition 215 in california is a good example of state laws over turning fed law. state laws are the final word in maerica not the fed
Again, this video and the pursuit to villainize Ron Paul is absolutely pathetic. You are a total idiot to think anybody but Ron Paul has actual intentions of fixing this problem. UnsavoryMen needs to get his head out of his ass.
Step 5: "Centralisation of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly. " - The Communist Manifesto
This is the Federal Reserve and the IMF. Get with it and join the good fight.
The initial statement is that the tax payers gave 700 billion to wall street - the truth is that money was extorted against the tax payers will and Ron voted against that bad bill.
If you had a clue you would understand how Paul has fought for decades against wall street raiding the tax payers pockets.
Sound money, gold backed - not backed by fool faith in politicians
So basically Ron Paul gave wanted to give more excuses for these very Wall Street corporations to extort more from the tax payers by voting against the credit card reform bill ?
Credit card holders choose to get the credit card, they choose to use the credit card, they choose to make minimum payments - all bad choices yet choices that credit card holders indicidually made.
Tax payers have no choice - CONgress holds a gun to our heads and says pay or go to jail, CONgress voted to make these bails outs - republicans and democrats hand in hand robbing the people.
PAUL voted against the government forcing bad decisions, using a credit card is individually a bad choice.
The fed is extorting money from you more than wall street when americans have no say about the value of there currency tomas jefferson said it would only end in a disaster. tis why we didnt have a nationa bank in the begining. fed pumping out endless money causeing inflation to soar to the dollar dropping 95%. Yea lets try to make ron paul out to something he isnt after all he is the only person tring to audit the fed or even point at them in congress
Fed does not issue credit cards to people so there is no point in blaming the Fed for sudden retroactive interest rates hikes on credit cards.
Fed is not responsible for issuing credit cards to people with a high risk of loan defaults.
Fed is not responsible for forcing people to make payments on loans with the lowest interest rates first and the highest interest rate the last so the credit card holders will find themselves hard to get out of credit card debt.
It's your fault for getting a credit card. You know the deal.
It's the corrupt politicians and businessmen over the past 90 years that have adopted and defended an economic system that revolves around borrowed money backed by nothing.
The Federal Reserve and it's owners are behind the whole thing. If we were fighting a bear that was trying to swat us, you'd be arguing that we need to get rid of his paw. People like Ron Paul and me are telling you that you need to get rid of the bear.
You obviously don't know anything about banking. The Federal Reserve is all the banks. So how can you say it doesn't have anything to do with the Fed? Do some research.
Instead of wasting everyone's time, Ron Paul is working on auditing the Fed. That would do so much more to help struggling Americans than voting for legislation that will just make banks rape you in some other way.
Oh but it is about the Federal Reserve. The Fed is the bank that you so boldly call "dubious" above. Now you defend it?
We can obviously agree that Ron Paul, then, is trying to solve "all the problems" as you put it. He just didn't vote to supposedly solve some of the problems? So Ron Paul is doing more than most. Besides, I work in the financial industry and I can tell you that this will solve no problems. They already begin talking about different fees that can make up for it.
The FED controls all the commercial banking institutions and credit unions through buying and selling govt. securities, changing the federal funds rate, controlling the discount rate, and controlling the lending capabilities of these banks. If you are going to mention commercial banks than it is not off topic to talk about the power of the FED. There is practically no oversight of the FED and it can initiate fiscal policies totally contradicting those of the govt. if it wishes to do so.
Your confused, that's not what I'm arguing. The FED controls the lending capabilities of the commercial banks which issue the cards. I don't know where you're coming from, nobody said the FED issues credit cards.
Ron Paul does not want a shred of oversight of financial institutions and exotic financial instruments like Credit Default Swaps that got into this big mess because he is boxed into his own 'deregulation' mindset yet when it comes to FED he is more than eager to do 'oversight' of FED.
You're an idiot. Ron Paul wants to get rid of the Federal Reserve altogether. Voting to "regulate" the industry does not GET RID of credit problems. He's not "supporting hikes", he just knows that this is no solution to any problem. Keep watching TV douche bag.
This video is not about Federal Reserve so your concern will be better addressed by commenting on FED on relevant videos.
Voting to regulate industry does not get rid of all credit related problem and voting not to regulate will not solve any problem at all. So which is better ? At least solving some problems or solving none ?
I'm a dual citizen of US and Canada. Canada is a fine country without any influence of fringe and absurd elements like Ron Paul.
The Congress made Occupational Health and Safety Act. If Congress cant make laws may be you are looking for some unelected body to make laws I guess. That would be considered fascism.
Ron Paul understands that too much credit is the problem. We let credit run free and wild and look what happened a bunch of people who shouldn't of even gotten loans defaulted on those loans, which also led to the housing bubble.
Now the tax payers are being asked to pay for their mistakes...not their own.
Your video has nice effects but ridiculously stupid content.
If Ron Paul understands that too much credit is the problem then why is he so eager to let credit card companies continue do the same by voting against that legislation ? Isnt he undercutting his own argument ?
By the way this video is not about housing bubble and please make the remark about housing bubble to relevant videos put out by concerned users.
Maybe the answer is not found in restricting credit card companies. How about this idea: pass a law that makes minors not liable for debt on credit cards. This would solve the problem of the minors going into debt and still allow the card companies to issue them cards if they would like to.
Your idea seems like giving minors a pass to drive on highways with no speed limits because they wont be liable for any accidents on highway due to their reckless speeding.
It shouldnt matter what credit card interest rates are because if you can`t pay the balance every month, you shouldn`t be using one. Unless of course you agree with Obama that the way out of the current economic crisis is MORE DEBT. using a credit card is not a right. Its a privilege that you should be extremely careful with.
You wrote, "It shouldnt matter what credit card interest rates are because if you can`t pay the balance every month, you shouldn`t be using one."
That is exactly the reason why the bill passed by the Congress last week puts severe limits on credit card companies from issuing credit cards to people under 18 who are most likely not going to be careful about their spending
"Cites the Constitution as an 'excuse'" to not violate contract rights? You want majority vote of unrepresentative elected officials to govern over the Constitution?
And you see nothing wrong with that?
I have to rethink sending my kids to public schools.
If you consider the Congress as "unrepresentative" body...well I have nothing to say. I presume you consider elections as useless. By your definition Ron Paul is a unrepresentative elected official I suspect.
To the author of this video and everyone that agrees with him: The reason he supports no interference with the credit card companies is that if goverment does control credit card interest rates, the credit card companies will be SUPER selective on who they give credit too. Thus, many people with poor to average credit (80%) of americans will not get any credit due too it's risk profile. This seems to be undermining what the current administration is trying to do, i.e keep credit flowing.
In future I would like credit card companies be super selective on who they give credit to. Why give credit to people with risk of high rate of default (like people under 18) who are likely going to spend themselves into debt. It's a lose-lose situation for both parties. Borrowers cant get out debts and the lenders cant collect these debts
Ron Paul is helping companies that enable people to sink themselves in to debt and make it harder for people to get out debt who are already in the sinkhole
No people that get credit cards means they didn't have the money to buy anything. These people shouldn't be getting credit cards. They are even miss used by people that have money as well.
if you use one, you pay it off on the first bill. If you can't do that, you don't need one.
during ron paul's "answer" to the question, he only says that he 'voted against that bill' clearly this was taken from another question asked to him. what a faker. unsavory men has proven that it is a dumbass and jealous of the campaign 4 liberty movement.
To the idiot that posted this video: The federal government does not have the power to interfere with contracts and dictate to credit card companies how much interest they can charge. The problem is the people using the cards. Stop using the cards and they will lower interest to try to get new customers. That is how a free market works. We need a free market, not a fascist government.
Votes have consequences. The Constitution is meant to serve the will of the people not the other way around. The Constitution does not give Credit Card companies right to engage in deceptive practices like forcing people to pay the loan with lowest interest rate first so the loan with the highest interest rate stays as it is and people cant get out debt. Nor does the Constitution give these companies right to make surprise retroactive interest rate hikes .
The Constitution is silent on what free people may contract between themselves. If what the credit card companies are doing is illegal, then sue them. Interest rates hikes were no surprise if you were paying attention. They will send you a letter. Of course there is an argument to be made that this is not a valid attempt to alter the contract. More people should sue the credit card companies in small claims court. In fact, I smell a fat juicy class action.
Ron Paul doesn't need to pay your bills, and I don't either. YOU need to pay your own bills!!!!! If you are not responsible enough to use a credit card then DON'T!!!!
Your credit card interest rates must go up to reflect the coming inflation. The interest rates are to low right now because of the fed manipulation in the marketplace to create this artificial bubble that helps elevate some burden on the short term, but hurts the economy much more in the long run. If you cannot understand that the interest rates and the home values of the past decade or 2 were artificially to low and to high respectively, then you obviously cannot understand why he voted no...
By the way, nice video. Of course, propoganda usually has the best production values. The truth is harder to present in a flashy video. Needs more nuance.
Besides credit card companies can't hike your interest rate if you just cancel the card. All of my credit card companies attempted to hike my rate. I just said no, canceled my card and pay the interest rate I originally contracted for.
Ron Paul is one of the few that voted against the bailouts. He used the Constitution to justify that vote as well. Paul has integrity and is consistent in his voting record. My guess is that the credit card legislation will do very little to help must credit card holders. Government legislation rarely does anything for the average joe, but is usually a back-door method for the powers that be to fleece you.
I agree with Ron Paul. You cannot get involved in this as a government. We need to get off credit as a nation anyhow. That just makes the bankers rich and allows them to take more power.
Ron Paul encourages saving and spending wisely. How many people do you know that can use a creditcard with control? Mabey these people who got themselves in trouble could get a bailout? Mabey there is a North American county that could use a bailout also. We should ask unsavoryman if his country..Canada...needs a bailout. How is your pistol permit comming along? Oh yeah your in Canada you can't own a gun. Now that is unsavory. I look forward to being blocked, censorship is a final desperate act.
Actually we don't need a bailout and we can own guns. Unfortunately not semi-autos and some handguns though.
That said I don't why someone from a different country would try and slander Ron Paul. Probably the most honest politician I have seen in any country in my lifetime.
This is stupid back in 2002 he warned us of too much spending and the housing bubble. He didn't support the bailouts, all he wants is small government and a free market . People don't understand soon enough you won't be able to but crap on you Credit Card and suffer much worse.
warmoviesboy 7 months ago
This has been flagged as spam show
All of your videos expose you as a collectivist. Not a free-market advocate. Therefore I consider you my enemy or foolish dupe of the left. Which is it?
Besides the fact that I disagree with your biased, incomplete and twisted political loyalties, you do have good skills at video production. Too bad you cannot see the errors of your ways and come over the side of freedom and liberty for the individual. True freedom is not without its problems but it beats your communist style collectivism!
nalejbank 8 months ago
This vid makes me like Ron Paul even more. . Govt has no right to "clamp" down anything to do with private contracts, unless of course fraud was committed then govt can enforce the law.
19TEC85 1 year ago
@19TEC85 Ron Paul 2012 dot com Woot!
nalejbank 8 months ago
Ron Paul supports the protection of contracts, as the Constitution requires. All these people who spend beyond their income all agreed to a contract before using these credit cards. If they didn't understand it then they shouldn't have agreed to it.
The problem of high credit card interest rates is much deeper than this single piece of legislation. It stems form our entire financial system, and monetary system. A simple bill won't fix it. Look at the big picture Mr. Big Brother
serfdomthwart 2 years ago
i find it scary that you think the government has the right to change or void private contracts at will. you sign a contract when you get a credit card....don't buy things with money you don't have. If we did that, we wouldn't be in this mess. you are completely clueless! I take it you supported the bailouts for the banks too. Explain to me where in the constitution does it give the federal government the power to void contracts??? If you had it your way, government power would be limitless.
anatnaSAbraxas 2 years ago 2
So govt cant change private contracts but credit card companies can ?
By the way I dont think any credit card holders signed up for unexpected and dubious practices by credit card companies
UnsavoryMen 2 years ago
government is only there to protect you against a breach of contract. that is its only constitutional power regarding this issue. so correct, government can't change private contracts. And if credit card companies breach contract, they are punished. But the legislation you are referring to basically tells companies what interest rates they are going to have and when. sounds a little Stalin-esque to me. People should read what they are signing up for or not sign up at all.
anatnaSAbraxas 2 years ago
@UnsavoryMen actually any contract for a credit card will state that they have the power to change interest rates and fees with given notice to the customer, in better legal terms of course but this case has been fought and lost numerous times
spatownunderground 5 months ago
guys you are idiots RP openly opposes the federal reserve and the current financial system. and quite frankly like me...you are in canada and like most of my fellow canadians you probably bought all of that "change" and "hope" bullshit obama promised. have you even read the guy's history in congress? its pretty scary
Warrivar 2 years ago
This video is not about Federal Reserve. It is much better to share your grievance about Federal Reserve on relevant videos.
Though it is not related to this video, since you brought up the issue of 'hope' and 'change' actually I'm disappointed at Obama for not moving towards single payer health care system
Acutally I find Ron Paul's record in Congress scary. He tried to dismantle things like workplace Health and Safety Act, tried to bailout private nursing homes out of tax payers' money etc
UnsavoryMen 2 years ago
Did I tell you that I'm a dual citizen of US and Canada.
UnsavoryMen 2 years ago
Whoa that has to be difficult.. LOL
Mychaels 2 years ago
@UnsavoryMen Your dual citizenship doesn't mean shit to me! Have you read and support the US Constitution or NOT? It is VERY clear you do not! You have loyalties to something other than to it and are clearly a left of center collectivist that loves a government solution to every "problem". Attitudes like yours leads to tyranny of government and therefore you cannot be trusted. I suggest you open your closed mind and read The Law, by Frederic Bastiat, available online. You can escape ignorance!
nalejbank 8 months ago
He voted agianst it because it does not address the problem, its just more political hoop jumping.
The problem is the FED setting artificially low intrest rates which cause people to make bad decisions they would not have made if the intrest rate was determined by the market forces. When interest rates were at 1% A few years back..everyone couldnt wait to take out loans, it was free money.. but debts have to be repaid sometime.
jased30 2 years ago
The federal govt has no authority to force laws appon the states get over it. I tend to try not to make judegments apon people but you unsavorymen are very confused about how the country is intended to run why i dont know but the fed has no authority to pass laws apon the states. If you dont like that paolice get active in state politics. propisition 215 in california is a good example of state laws over turning fed law. state laws are the final word in maerica not the fed
anthonyw713 2 years ago
Again, this video and the pursuit to villainize Ron Paul is absolutely pathetic. You are a total idiot to think anybody but Ron Paul has actual intentions of fixing this problem. UnsavoryMen needs to get his head out of his ass.
Step 5: "Centralisation of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly. " - The Communist Manifesto
This is the Federal Reserve and the IMF. Get with it and join the good fight.
theamericanwarrior 2 years ago
Unsavory lies:
The initial statement is that the tax payers gave 700 billion to wall street - the truth is that money was extorted against the tax payers will and Ron voted against that bad bill.
If you had a clue you would understand how Paul has fought for decades against wall street raiding the tax payers pockets.
Sound money, gold backed - not backed by fool faith in politicians
Martintfre 2 years ago 2
So basically Ron Paul gave wanted to give more excuses for these very Wall Street corporations to extort more from the tax payers by voting against the credit card reform bill ?
UnsavoryMen 2 years ago
Credit card holders choose to get the credit card, they choose to use the credit card, they choose to make minimum payments - all bad choices yet choices that credit card holders indicidually made.
Tax payers have no choice - CONgress holds a gun to our heads and says pay or go to jail, CONgress voted to make these bails outs - republicans and democrats hand in hand robbing the people.
PAUL voted against the government forcing bad decisions, using a credit card is individually a bad choice.
Martintfre 2 years ago 4
The fed is extorting money from you more than wall street when americans have no say about the value of there currency tomas jefferson said it would only end in a disaster. tis why we didnt have a nationa bank in the begining. fed pumping out endless money causeing inflation to soar to the dollar dropping 95%. Yea lets try to make ron paul out to something he isnt after all he is the only person tring to audit the fed or even point at them in congress
anthonyw713 2 years ago
Watch Money as Debt. It's on YouTUBE.
theamericanwarrior 2 years ago 2
I'm a penny pincher here...do I need to get lesson on debt ?
UnsavoryMen 2 years ago
You don't understand the correlation between the Fed and the credit card companies. I'd say yes you do.
theamericanwarrior 2 years ago
Fed does not issue credit cards to people so there is no point in blaming the Fed for sudden retroactive interest rates hikes on credit cards.
Fed is not responsible for issuing credit cards to people with a high risk of loan defaults.
Fed is not responsible for forcing people to make payments on loans with the lowest interest rates first and the highest interest rate the last so the credit card holders will find themselves hard to get out of credit card debt.
UnsavoryMen 2 years ago
It's your fault for getting a credit card. You know the deal.
It's the corrupt politicians and businessmen over the past 90 years that have adopted and defended an economic system that revolves around borrowed money backed by nothing.
The Federal Reserve and it's owners are behind the whole thing. If we were fighting a bear that was trying to swat us, you'd be arguing that we need to get rid of his paw. People like Ron Paul and me are telling you that you need to get rid of the bear.
theamericanwarrior 2 years ago 2
You obviously don't know anything about banking. The Federal Reserve is all the banks. So how can you say it doesn't have anything to do with the Fed? Do some research.
theamericanwarrior 2 years ago
Instead of wasting everyone's time, Ron Paul is working on auditing the Fed. That would do so much more to help struggling Americans than voting for legislation that will just make banks rape you in some other way.
theamericanwarrior 2 years ago 2
Oh but it is about the Federal Reserve. The Fed is the bank that you so boldly call "dubious" above. Now you defend it?
We can obviously agree that Ron Paul, then, is trying to solve "all the problems" as you put it. He just didn't vote to supposedly solve some of the problems? So Ron Paul is doing more than most. Besides, I work in the financial industry and I can tell you that this will solve no problems. They already begin talking about different fees that can make up for it.
theamericanwarrior 2 years ago
First of all, the FED does not issue credit cards to people.
Second, this video does not mention a word about the FED. All it talks about is about private commercial banks and the credit cards companies.
UnsavoryMen 2 years ago
The FED controls all the commercial banking institutions and credit unions through buying and selling govt. securities, changing the federal funds rate, controlling the discount rate, and controlling the lending capabilities of these banks. If you are going to mention commercial banks than it is not off topic to talk about the power of the FED. There is practically no oversight of the FED and it can initiate fiscal policies totally contradicting those of the govt. if it wishes to do so.
matthew1722 2 years ago
FED does not issue credit cards to consumers. I dont think you have FED issued credit card.
UnsavoryMen 2 years ago
Your confused, that's not what I'm arguing. The FED controls the lending capabilities of the commercial banks which issue the cards. I don't know where you're coming from, nobody said the FED issues credit cards.
matthew1722 2 years ago
Ron Paul does not want a shred of oversight of financial institutions and exotic financial instruments like Credit Default Swaps that got into this big mess because he is boxed into his own 'deregulation' mindset yet when it comes to FED he is more than eager to do 'oversight' of FED.
TheFringeCult 2 years ago
I never said I agree with every stance Ron Paul takes. I think he's right about some things, but not everything.
matthew1722 2 years ago
You're an idiot. Ron Paul wants to get rid of the Federal Reserve altogether. Voting to "regulate" the industry does not GET RID of credit problems. He's not "supporting hikes", he just knows that this is no solution to any problem. Keep watching TV douche bag.
theamericanwarrior 2 years ago 2
This video is not about Federal Reserve so your concern will be better addressed by commenting on FED on relevant videos.
Voting to regulate industry does not get rid of all credit related problem and voting not to regulate will not solve any problem at all. So which is better ? At least solving some problems or solving none ?
UnsavoryMen 2 years ago
By the way ...since you went off topic by commenting on the FED. Let me add my off topic comment as well.
It appears Ron Paul does not oppose govt. bailouts of private enterprises in all cases.
UnsavoryMen 2 years ago
UnsaveryMen is from the People's Republic of Canada.
That explaines EVERYTHING.
He hates freedom, he hates America, he hates the Rule of Law, he hates the right of contract and he embraces federal fascism.
SHEEPLE!
yakyakyak69 2 years ago
I'm a dual citizen of US and Canada. Canada is a fine country without any influence of fringe and absurd elements like Ron Paul.
The Congress made Occupational Health and Safety Act. If Congress cant make laws may be you are looking for some unelected body to make laws I guess. That would be considered fascism.
UnsavoryMen 2 years ago
By the way there is a party called Libertarian Party of Canada in Canada which promotes almost exact things Ron Paul likes to promote.
In the last election in 2008 they received just over three thousand votes out of 33 million Canadians.
UnsavoryMen 2 years ago
How hard is it for the Libertarians or Greens or independents to get on the ballot compared to the in power parties in Candida?
IN the 'Free' USA, the government subsidizes the democrats and republicans and they use the government to sue the rest .. freedom my ass.
Martintfre 2 years ago
Ron Paul understands that too much credit is the problem. We let credit run free and wild and look what happened a bunch of people who shouldn't of even gotten loans defaulted on those loans, which also led to the housing bubble.
Now the tax payers are being asked to pay for their mistakes...not their own.
Your video has nice effects but ridiculously stupid content.
clearsky24 2 years ago 2
If Ron Paul understands that too much credit is the problem then why is he so eager to let credit card companies continue do the same by voting against that legislation ? Isnt he undercutting his own argument ?
By the way this video is not about housing bubble and please make the remark about housing bubble to relevant videos put out by concerned users.
UnsavoryMen 2 years ago
Maybe the answer is not found in restricting credit card companies. How about this idea: pass a law that makes minors not liable for debt on credit cards. This would solve the problem of the minors going into debt and still allow the card companies to issue them cards if they would like to.
cstorvold 2 years ago
Your idea seems like giving minors a pass to drive on highways with no speed limits because they wont be liable for any accidents on highway due to their reckless speeding.
UnsavoryMen 2 years ago
Except that we wouldn't be giving them any highways to drive on would we.
cstorvold 2 years ago
Except we dont give them free pass to wreck themselves.
UnsavoryMen 2 years ago
It shouldnt matter what credit card interest rates are because if you can`t pay the balance every month, you shouldn`t be using one. Unless of course you agree with Obama that the way out of the current economic crisis is MORE DEBT. using a credit card is not a right. Its a privilege that you should be extremely careful with.
cstorvold 2 years ago
You wrote, "It shouldnt matter what credit card interest rates are because if you can`t pay the balance every month, you shouldn`t be using one."
That is exactly the reason why the bill passed by the Congress last week puts severe limits on credit card companies from issuing credit cards to people under 18 who are most likely not going to be careful about their spending
UnsavoryMen 2 years ago
LOL Yeah Ron Paul is the problem.PFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFTTTTTTTTTTTTTTTTTTTTTTTT!!!!!!!!!!!!!!!!!! LMFAO
willquinteros 2 years ago 2
"Cites the Constitution as an 'excuse'" to not violate contract rights? You want majority vote of unrepresentative elected officials to govern over the Constitution?
And you see nothing wrong with that?
I have to rethink sending my kids to public schools.
spinnikerca 2 years ago
If you consider the Congress as "unrepresentative" body...well I have nothing to say. I presume you consider elections as useless. By your definition Ron Paul is a unrepresentative elected official I suspect.
UnsavoryMen 2 years ago
The Constitution limits what the government CAN do, not what it can't do.
tomrdee 2 years ago
To the author of this video and everyone that agrees with him: The reason he supports no interference with the credit card companies is that if goverment does control credit card interest rates, the credit card companies will be SUPER selective on who they give credit too. Thus, many people with poor to average credit (80%) of americans will not get any credit due too it's risk profile. This seems to be undermining what the current administration is trying to do, i.e keep credit flowing.
MMAGRO1 2 years ago
In future I would like credit card companies be super selective on who they give credit to. Why give credit to people with risk of high rate of default (like people under 18) who are likely going to spend themselves into debt. It's a lose-lose situation for both parties. Borrowers cant get out debts and the lenders cant collect these debts
Ron Paul is helping companies that enable people to sink themselves in to debt and make it harder for people to get out debt who are already in the sinkhole
UnsavoryMen 2 years ago
No people that get credit cards means they didn't have the money to buy anything. These people shouldn't be getting credit cards. They are even miss used by people that have money as well.
if you use one, you pay it off on the first bill. If you can't do that, you don't need one.
ANGLEBOOT 2 years ago
during ron paul's "answer" to the question, he only says that he 'voted against that bill' clearly this was taken from another question asked to him. what a faker. unsavory men has proven that it is a dumbass and jealous of the campaign 4 liberty movement.
chale111111 2 years ago
The moron who posted this clip is a fkn waste!
btgaston 2 years ago 3
Scared to turn on the ratings, because you know that this is a blatant misrepresentation of the man's position.
potentiallywasted 2 years ago 3
Gee, I wonder why ratings are disabled? Hmmm . . . could it be because the author can't stand to see that everyone knows that his video is a FRAUD?
OKCMC5 2 years ago 3
To the idiot that posted this video: The federal government does not have the power to interfere with contracts and dictate to credit card companies how much interest they can charge. The problem is the people using the cards. Stop using the cards and they will lower interest to try to get new customers. That is how a free market works. We need a free market, not a fascist government.
OKCMC5 2 years ago 3
Votes have consequences. The Constitution is meant to serve the will of the people not the other way around. The Constitution does not give Credit Card companies right to engage in deceptive practices like forcing people to pay the loan with lowest interest rate first so the loan with the highest interest rate stays as it is and people cant get out debt. Nor does the Constitution give these companies right to make surprise retroactive interest rate hikes .
UnsavoryMen 2 years ago
The Constitution is silent on what free people may contract between themselves. If what the credit card companies are doing is illegal, then sue them. Interest rates hikes were no surprise if you were paying attention. They will send you a letter. Of course there is an argument to be made that this is not a valid attempt to alter the contract. More people should sue the credit card companies in small claims court. In fact, I smell a fat juicy class action.
mandatum 2 years ago
The consitiution limits GOVERNMENT not the Free Market.
MMAGRO1 2 years ago 4
Great to see! - more consistency from the man... keep up the good work RP
tummy14 2 years ago
Ron Paul doesn't need to pay your bills, and I don't either. YOU need to pay your own bills!!!!! If you are not responsible enough to use a credit card then DON'T!!!!
roseagain2 2 years ago
Your credit card interest rates must go up to reflect the coming inflation. The interest rates are to low right now because of the fed manipulation in the marketplace to create this artificial bubble that helps elevate some burden on the short term, but hurts the economy much more in the long run. If you cannot understand that the interest rates and the home values of the past decade or 2 were artificially to low and to high respectively, then you obviously cannot understand why he voted no...
Bilakaifa 2 years ago 2
By the way, nice video. Of course, propoganda usually has the best production values. The truth is harder to present in a flashy video. Needs more nuance.
mandatum 2 years ago 2
Besides credit card companies can't hike your interest rate if you just cancel the card. All of my credit card companies attempted to hike my rate. I just said no, canceled my card and pay the interest rate I originally contracted for.
mandatum 2 years ago
Ron Paul is one of the few that voted against the bailouts. He used the Constitution to justify that vote as well. Paul has integrity and is consistent in his voting record. My guess is that the credit card legislation will do very little to help must credit card holders. Government legislation rarely does anything for the average joe, but is usually a back-door method for the powers that be to fleece you.
mandatum 2 years ago 2
I agree with Ron Paul. You cannot get involved in this as a government. We need to get off credit as a nation anyhow. That just makes the bankers rich and allows them to take more power.
imnos482 2 years ago
Ron Paul encourages saving and spending wisely. How many people do you know that can use a creditcard with control? Mabey these people who got themselves in trouble could get a bailout? Mabey there is a North American county that could use a bailout also. We should ask unsavoryman if his country..Canada...needs a bailout. How is your pistol permit comming along? Oh yeah your in Canada you can't own a gun. Now that is unsavory. I look forward to being blocked, censorship is a final desperate act.
xqj37alpha 2 years ago
Actually we don't need a bailout and we can own guns. Unfortunately not semi-autos and some handguns though.
That said I don't why someone from a different country would try and slander Ron Paul. Probably the most honest politician I have seen in any country in my lifetime.
brokenbrainz1 2 years ago