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A comment on Does QE Cause Wealth Inequality?. Parent comment

Re:Does QE Cause Wealth Inequality? by ruined on Tuesday November 16, 2021 @02:38PM (#29245388)
which simply reinforces the idea that it's not a market. credit cards, too, are generally capped.

the rate always maxes out the legislated cap. so it's not really dependent.

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Re:Does QE Cause Wealth Inequality? by Ericson2314 on Tuesday November 16, 2021 @03:54PM (#29246233)
Yes the market power is also one sided, capping the rate also doesn't really help without guaranteeing more access to credit.

The best thing is:

a) UBI, just hand out a tiny bit of money to make poor people more liquid, because liquidity kills, not insolvency

b) postal banking, because even shittier than a payday loan is high fee check cashing without a pretense of debt!

Poor people hopefully at the point can save up a paychecks worth of buffer in their bank account, and don't need postal bank loans to replay payday loans.

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