View Poll Results: Should loans be illegal?

Voters
40. You may not vote on this poll
  • Certainly, there is no real need for them.

    3 7.50%
  • Yes they should, we can manage without loans.

    0 0%
  • Hmmm.. Perhaps..

    7 17.50%
  • Naah, why should they?

    2 5.00%
  • Ofcourse not, we need loans to buy stuff we cannot afford.

    5 12.50%
  • No

    23 57.50%
  • something else..(explain)

    0 0%
Page 3 of 5 FirstFirst 12345 LastLast
Results 21 to 30 of 46

Thread: Should loans be illegal?

  1. #21
    Banned

    Join Date
    Oct 2007
    Last Seen
    07-11-11 @ 12:00 AM
    Gender
    Lean
    Undisclosed
    Posts
    3,249

    mad You know what should be illegal?

    You know what should be illegal?

    Banks taking FED bail-out funds and not using them to loan or stimulate businesses or qualified borrowers. Using instead the same funds to shore up their own solvency.

    The slouch towards Gomorrah continues apace.
    Last edited by Sir Loin; 01-21-09 at 04:02 AM.

  2. #22
    Human 2.0
    Maximus Zeebra's Avatar
    Join Date
    Dec 2006
    Location
    Western Europe
    Last Seen
    03-10-16 @ 03:02 PM
    Gender
    Lean
    Independent
    Posts
    6,568

    Re: Should loans be illegal?

    Quote Originally Posted by Shewter View Post
    Consider the amount of money it takes to build a house.

    Even if you were to charge just basic cost (labor, materials) and nothing else, most americans would not be able to buy a house.
    But everything would deflate if loans were made illegal, because of principle of money supply in supply and demand of everything.

    Why should people afford to buy a house without saving for it anyways?
    Europe is illegally occupied by the US

  3. #23
    Human 2.0
    Maximus Zeebra's Avatar
    Join Date
    Dec 2006
    Location
    Western Europe
    Last Seen
    03-10-16 @ 03:02 PM
    Gender
    Lean
    Independent
    Posts
    6,568

    Re: Should loans be illegal?

    Quote Originally Posted by creativedreams View Post
    Very interesting...I believe many things would be far better off if we could go back in time and outlaw any form of credit.

    Not sure if it is possible now?

    many credit debts are constantly unpaid and keep snowballing to form a dangerous economy that could collapse and form a depression far worse than the "Great Depression".... perhaps that is a big part of what is going on today!
    Well, I think all in all our societies are worth nothing, because all the values we have, we also have an equal amount of loans, in most capitalist countries.. The norm in say 50 years will not be that people leave fortunes when they die, but rather loans and bad credit.

    It could be possible to change, but our economies would have to change majority.

    Think about it, all UK growth the last 20 years have been financed by loans, while most before was financed by change and fundamental improvements on the society.. Which is best?
    Europe is illegally occupied by the US

  4. #24
    Human 2.0
    Maximus Zeebra's Avatar
    Join Date
    Dec 2006
    Location
    Western Europe
    Last Seen
    03-10-16 @ 03:02 PM
    Gender
    Lean
    Independent
    Posts
    6,568

    Re: Should loans be illegal?

    Quote Originally Posted by ARealConservative View Post
    Should people be free to enter into agreements without approval of the will of the majority?

    Maybe in eurotrashland not, but I hope that idiocy never comes to this shore.
    What the hell are you talking about?
    Europe is illegally occupied by the US

  5. #25
    Human 2.0
    Maximus Zeebra's Avatar
    Join Date
    Dec 2006
    Location
    Western Europe
    Last Seen
    03-10-16 @ 03:02 PM
    Gender
    Lean
    Independent
    Posts
    6,568

    Re: Should loans be illegal?

    Quote Originally Posted by Hatuey View Post
    Why should they be illegal? Two entities enter into a legal agreement. Both parties agree to the terms. If the side that can't pay fails to pay **** em.
    Because its becoming overly unhealthy for our society, and our society is becoming dominated by loans and credit. People buy things they cannot afford, only a tiny minority buys things they actually can afford..
    Europe is illegally occupied by the US

  6. #26
    Human 2.0
    Maximus Zeebra's Avatar
    Join Date
    Dec 2006
    Location
    Western Europe
    Last Seen
    03-10-16 @ 03:02 PM
    Gender
    Lean
    Independent
    Posts
    6,568

    Re: Should loans be illegal?

    Quote Originally Posted by Hatuey View Post
    So?



    Yeah. People stop asking for loans they can't pay for....
    The problem is that loans inflate prices, to the level where others have to take loans in order to buy the same things... In the end no one can afford things they should be able to afford.

    In the end a house has ended up costing Brits about 30 of their annual wages....
    Europe is illegally occupied by the US

  7. #27
    Human 2.0
    Maximus Zeebra's Avatar
    Join Date
    Dec 2006
    Location
    Western Europe
    Last Seen
    03-10-16 @ 03:02 PM
    Gender
    Lean
    Independent
    Posts
    6,568

    Re: Should loans be illegal?

    Quote Originally Posted by Joby View Post
    No, loans need to be legal. Without that ability we'd be marxists, it seems like a dumb overreaction to the current crisis.

    I agree with Hatuey completely, if someone, or some business, bites off more than they can chew then **** 'em. That said, the new bankruptcy laws are BS and need to be reformed, along with more investigation and regulation by the govt in the whole financial sector.
    YOU the PEOPLE are the ones who are paying for the bankruptcies of your nations banks and businesses now. You have already paid several thousand dollars already and in future obligations. Just the interest rates amount to 100$ a year.
    Europe is illegally occupied by the US

  8. #28
    Human 2.0
    Maximus Zeebra's Avatar
    Join Date
    Dec 2006
    Location
    Western Europe
    Last Seen
    03-10-16 @ 03:02 PM
    Gender
    Lean
    Independent
    Posts
    6,568

    Re: Should loans be illegal?

    Quote Originally Posted by lighthouse View Post
    I'm sure that preventing borrowing for household consumption is a sensible way to decrease the extent of consumerism.

    But households shouldn't even be allowed to borrow for investment?

    Now that's a great idea if you prefer:
    1. underinvestment in education, health care and housing
    2. a lower standard of living for all but a select few
    3. higher inequality


    Maybe someone with a better understanding of economics could correct me if I'm wrong.
    I am just edging this whole discussion, putting it on the edge to get a point out..

    My true opinion on the issue is that we need to limit home loans(and the amounts), we need to make it really strict for private people to get credit, we need to put limits on that credit, all in relations to wages and your savings and such. And we also need to make it easier for start up businesses to get funding, but more difficult for existing businesses to survive only by lending money, or in general make it more difficult for businesses to lend money, except of course new businesses.
    Europe is illegally occupied by the US

  9. #29
    dangerously addictive
    americanwoman's Avatar
    Join Date
    Jul 2005
    Location
    Somewhere over the rainbow
    Last Seen
    Yesterday @ 03:29 PM
    Gender
    Lean
    Independent
    Posts
    14,665

    Re: Should loans be illegal?

    No, loans should not be illegal. If house values plummet, I will still owe the bank for my house that wouldn't be worth half of what I still owe. It's a selfish point of view, yes.
    Is what you're living for today, worth dying for tomorrow?
    _____________________________________________

  10. #30
    Banned
    Join Date
    Dec 2008
    Location
    Timbuktu
    Last Seen
    01-30-12 @ 07:09 AM
    Gender
    Lean
    Slightly Conservative
    Posts
    2,730

    Re: Should loans be illegal?

    Quote Originally Posted by americanwoman View Post
    No, loans should not be illegal. If house values plummet, I will still owe the bank for my house that wouldn't be worth half of what I still owe. It's a selfish point of view, yes.
    I kind of like this analogy...I think a persons success should be rated on how much debt they can acquire and not pay back... before they move on to the next life
    Last edited by creativedreams; 01-21-09 at 10:21 AM.

Page 3 of 5 FirstFirst 12345 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •