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%
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Thread: Should loans be illegal?

  1. #31
    Educator ronpaulvoter's Avatar
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    fyi Re: Should loans be illegal?

    Quote Originally Posted by Maximus Zeebra View Post
    ... Why should people be able to loan their way to afford things they cannot afford? And why should this practice again make other people unable to afford what they really should afford without taking a loan?
    You are partially correct. People are borrowing far too much to buy things they don't need.

    But as long as it is free market and strictly voluntary, I have no problem with it.

    On the other hand, when GOVERNMENT (all levels) borrows and borrows and borrows and keeps going deeeeeeeeeeeeeeper into debt, I get mad as Hell. My blood really boils when we realize that the vast majority of things that government buys with this borrowed money are things we are better off WITHOUT, even if they were FREE.


    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....
    I wouldn't outlaw voluntary private credit, but I would gladly outlaw government credit. That would be one good way to keep its growth in check, not to mention eliminate public debts.


    Quote Originally Posted by earthworm View Post
    Borrowing/lending money is a responsibility; the primary cause of todays depression is that both parties abdicated their responsibility.
    Our Congress may have passed laws making credit easier....too easy for too many....
    Congress has not only made it too easy. The really bad part is they MANDATED banks to provide loans to irresponsible people who nearly always default.


    Quote Originally Posted by Dezaad View Post
    I love this analogy, I have been using the words "ponzi scheme" in my conversations lately about this financial collapse. Although it is a bit different in exact mechanism, it behaves similarly....
    Want a really good Ponzi scheme? Try social security. Don't you wish there was a way to get out of it?


    Quote Originally Posted by Sir Loin View Post
    [FONT=Verdana]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 solution is simple. DON'T bail them out.

  2. #32
    Banned Goobieman's Avatar
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    Re: Should loans be illegal?

    I cannot imagine why it should be illegal for me to let someone borrow some of my money, and for me to make money off of it.

  3. #33
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    Re: Should loans be illegal?

    Quote Originally Posted by creativedreams View Post
    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
    This is exactly what is making our giant snowball of credit on the brink of collapsing and clearly making it a situation far deeper than the "Great Depression"

    the bottom level of the credit pyramid is the very basic lending and borrowing with "low" risk. The levels of the pyramid keep building and bailing out the level below of... people passed away leaving debt...people filing bankruptsy and pushing their debt upward...people simply not paying a bill...etc...until it reaches the top of the unstable credit pyramid and all that is left is the relying on the government...which by the way can't help much when their in debt too......then the whole pyramid collapses and creates the largest "Great Depression" in the history of the world...

    What happens after every depression....WAR!
    Last edited by creativedreams; 01-21-09 at 12:32 PM.

  4. #34
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    Re: Should loans be illegal?

    Quote Originally Posted by creativedreams View Post

    What happens after every depression....WAR!
    We already got that in the Middle East.

  5. #35
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    Re: Should loans be illegal?

    Quote Originally Posted by winston53660 View Post
    We already got that in the Middle East.
    Not even close to what may happen with world finance tension.

  6. #36
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    Re: Should loans be illegal?

    Quote Originally Posted by Maximus Zeebra View Post
    What the hell are you talking about?
    Money is nothing more then an agreed upon system of barter.

    Loaning money, loaning a commodity, such as a pig, or loaning my man hours out isn't any different. I get paid monthly. By the time I receive a paycheck, I loaned my valuable time out for an entire month to my employer.

    If you want to banish the ability to get loans, you signal to me that you fail to understand what money actually is.

  7. #37
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    Re: Should loans be illegal?

    No, I don't think it would make sense to get rid of loans. Should we have a small amount of regulation, sure I can buy that. Make sure contracts are good, things are leveraged correctly, and that people are well informed about the loan they wish to take out. But there's no reason not to have loans in general. Loans are good, they help you get things you may need. Prices for stuff wouldn't drop too much without loans, people just would have less. If I have a good, stable job in which I make lots of money; there's no reason I shouldn't be able to borrow against that so I can get maybe a house or something. Can this be taken too far? Yes of course, and we've seen the results of predation loaning and Wall Street getting their way. Regulate a little bit, and that will help ensure this doesn't happen again. But ending loans...that would be stupid.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  8. #38
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    Re: Should loans be illegal?

    Loans and credit are absolutely necessary to the perpetuation of this system, so no, they will never be illegal.

  9. #39
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    Maximus Zeebra's Avatar
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    Re: Should loans be illegal?

    Quote Originally Posted by Khayembii Communique View Post
    Loans and credit are absolutely necessary to the perpetuation of this system, so no, they will never be illegal.
    You and me just dont fit at all.. It seems you misunderstand ANYTHING and EVERYTHING I say, even this simple question in my thread. We must have an opposite way of thinking.. Where are you from?( is the question that pushes into my head..)

    The name implies you are a French immigrant or something.
    Last edited by Maximus Zeebra; 01-21-09 at 05:07 PM.
    Europe is illegally occupied by the US

  10. #40
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    Re: Should loans be illegal?

    PHP Code:
    Congress has not only made it too easyThe really bad part is they MANDATED banks to provide loans to irresponsible people who nearly always default. 
    Can this be true ?
    It seems to be so absurd.
    IMO, Congress cannot do this, not as it is written....
    If so, any Congressional Investigation would back-fire and the Representatives would have to resign in disgrace...all of them.....

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