People are living on credit cards and getting screwed

Concart said:
When I mentioned the elasticity of prices..... it was like Charlie Brown listening to the adults. He didn't understand a word, and then got kinda upset because he realized in that moment he was really fucking stupid. Poor guy. They are simpletons, and his equation ignored ALL the other costs associated with labor, and just focused on wages. Like they are simpletons.
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Elasticity of price is largely based on changes in price with respect to demand.

10e92eab96aec618fd9a0fb78b74a4942c299b01


P = price
Q = Demand (Quantity)

The equation is a PID using differential calculus.
 
Theywillneverlearn! said:
Want to try again asshole? Seriously, go get your welfare check. Then kill yourself.
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I tried once. You didn't respond. Fire away. I'll give you a starting point.

POSIT: In a low skilled retail/restaurant environment, reduced retention and hiring costs and greater production mitigates wage costs associated with a minimum wage increase such that the elasticity of demand for a product will fully absorb the increased labor cost, if any.
 
I don't see how people can do much of anything without credit cards.

The US treasury, with its present cash-hating campaign, doesn't print currency in excess of $100 denominations, this in today's inflation.
People would have to walk around with their pockets bulging with cash.
Think we have a handgun problem now?

Yes, one could write checks, but that's a pain in the ass.
Plastic is simply more convenient, but it should not give people license to spend money that they don't have.
 
NiftyNiblick said:
I don't see how people can do much of anything without credit cards.

The US treasury, with its present cash-hating campaign, doesn't print currency in excess of $100 denominations, this in today's inflation.
People would have to walk around with their pockets bulging with cash.
Think we have a handgun problem now?

Yes, one could write checks, but that's a pain in the ass.
Plastic is simply more convenient, but it should not give people license to spend money that they don't have.
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Agreed. I use cards for everything. The problem is carrying a balance. As for the Fed, there is a fixed amount of US currency in circulation, and they cannot, by law do anything other than replace it when it becomes damaged So probably no fix for that issue.
 
NiftyNiblick said:
I don't see how people can do much of anything without credit cards.

The US treasury, with its present cash-hating campaign, doesn't print currency in excess of $100 denominations, this in today's inflation.
People would have to walk around with their pockets bulging with cash.
Think we have a handgun problem now?

Yes, one could write checks, but that's a pain in the ass.
Plastic is simply more convenient, but it should not give people license to spend money that they don't have.
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catching up with my weed dealer means he only takes cash
 
Concart said:
I tried once. You didn't respond. Fire away. I'll give you a starting point.

POSIT: In a low skilled retail/restaurant environment, reduced retention and hiring costs and greater production mitigates wage costs associated with a minimum wage increase such that the elasticity of demand for a product will fully absorb the increased labor cost, if any.
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gotta keep those food servers on their toes..
 
Concart said:
I tried once. You didn't respond. Fire away. I'll give you a starting point.

POSIT: In a low skilled retail/restaurant environment, reduced retention and hiring costs and greater production mitigates wage costs associated with a minimum wage increase such that the elasticity of demand for a product will fully absorb the increased labor cost, if any.
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Tried what? Your usual? Running away? Nothing to back up your bullshit? STFU welfare boy. Actually try finding a job.
 
Theywillneverlearn! said:
Translation: I cannot back up any of my bullshit, so, like the white, woke welfare collecting democrat I am I will do what I do best. Run like a fucking pussy.
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I did. I gave you a posit. You didn't understand it, but that's not my fault. I can't teach physics to a chihuahua.
 
People are screwed because of state rights. To lure credit card companies and banks to their states, Delaware and S. Dakota gutted credit card and banking regulations, throwing out usury laws while they were at it. All banks did was open a PO box there and claim the right to use those pro-banking laws. States rights are a race to the LCD.
 
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T. A. Gardner said:
Right now, people are living more and more on credit cards. 55% of Americans are carrying a balance on their credit cards.


https://www.cnbc.com/2019/05/17/55-percent-of-americans-have-credit-card-debt.html

The average debt owed right now is between $2,500 and $6,000.
https://www.creditkarma.com/insights/i/average-credit-card-debt

Interest rates are now the highest they've been in almost three decades.


https://www.msn.com/en-us/money/per...e-highest-they-ve-been-since-1991/ar-AA13XTI2

Americans are increasingly being fucked by having to use credit cards to make ends meet, and you don't see Joke doing a goddamned thing about it, even as he is a major cause.
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People don't have to rely on credit cards to make ends meet. The people most affected by trump's inflation don't even have credit cards.

And I have thousands on my credit cards that would be considered 'a balance'. All balances are paid off every month with no interest accrued.

They still show up as 'balances'.

I believe (unless trump undid them) there are protections in place to keep CC companies from raising rates on existing balances. If rates go up, new purchases are subject to new rates. Again...unless trump did away with that too.
 
Walt said:
If you payoff your entire balance, every month, you usually get between 1% and 5% of whatever you spend back, and get a better return policy on what you buy. Basically, the non-credit card users are being charged extra, so people who pay off their balance can get a discount.
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And I absolutely love it.
 
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