Lib Dems prove once again they are not fit to govern

[sasguru]

To make a "normal profit" with a 10x smaller loan book the margin would need to be 10x higher. So instead of 3-4% spread between the saving and lending rate we would have 30-40%. The free movement of capital, and with it the free markets you advocate, would disappear overnight.

You can tell our new resident economics clown (taking over from atW) hasn't really had a great education.
He's espousing the Austrian theory of economics, which he understands only imperfectly, while ignoring all evidence to the contrary.
He's the reason why parents pay for their children to have a rigorous education in good universities.

[sasguru]

The whole of the western world is failing including Germany. Not sure if you missed that.

How is Germany failing? Have you even been to Germany?

[doodab]

The whole of the western world is failing including Germany. Not sure if you missed that.

It depends on how you define success for a state. Most Germans seem pretty happy with theirs.

[Robinho]

To make a "normal profit" with a 10x smaller loan book the margin would need to be 10x higher. So instead of 3-4% spread between the saving and lending rate we would have 30-40%. The free movement of capital, and with it the free markets you advocate, would disappear overnight.

This is such a lazy post. First of all, a bank that offers loans at 30-40% won't make any money, because nobody will take out these loans. Secondly, why should the banks be making enormous profits from their unique right to create money? And finally, if the banks were actually making profit, we would haven't to have just spend hundreds of billions bailing them out. Instead the banks have been making large short term profits and giving their employees huge bonuses, but when the system catches up with them they have to be bailed out instead of punished.

[Mich the Tester]

This is such a lazy post. First of all, a bank that offers loans at 30-40% won't make any money, because nobody will take out these loans. Secondly, why should the banks be making enormous profits from their unique right to create money? And finally, if the banks were actually making profit, we would haven't to have just spend hundreds of billions bailing them out. Instead the banks have been making large short term profits and giving their employees huge bonuses, but when the system catches up with them they have to be bailed out instead of punished.

https://www.ferratum.co.uk/

Payday loans in the United Kingdom - Wikipedia, the free encyclopedia

[Robinho]

How is Germany failing? Have you even been to Germany?

How is the US failing but Germany not? They both have crippling debt, they both have a shaky currencies. Both are only going one way and that is downwards.

[Robinho]

https://www.ferratum.co.uk/

Payday loans in the United Kingdom - Wikipedia, the free encyclopedia

And how reflective of the lending industry do you feel payday loans are?

And following on from the answer to this question, do you feel as if you have made a worthwhile point?

[moggy]

And how reflective of the lending industry do you feel payday loans are?

And following on from the answer to this question, do you feel as if you have made a worthwhile point?

Wonga have done very well out of them.

[Mich the Tester]

And how reflective of the lending industry do you feel payday loans are?

And following on from the answer to this question, do you feel as if you have made a worthwhile point?

You seem to be forgetting what you said only a few minutes ago; 'a bank that offers loans at 30-40% won't make any money, because nobody will take out these loans'.

You might want to talk to a doctor about this.

[doodab]

You seem to be forgetting what you said only a few minutes ago; 'a bank that offers loans at 30-40% won't make any money, because nobody will take out these loans'.

You might want to talk to a doctor about this.

He'll be back to explain just as soon as he's mounted his unicycle.