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.
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.