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Trump's Second Term

Andy_Ross said:
Seems a bit irresponsible

COLLINS: People are saying you posted the jobs data early when you're not supposed to share it until the next morning

TRUMP: I said post them whenever you get a chance. I don't know. They gave me some numbers. When people give me things, I post them

https://twitter.com/x/status/2009735465688052184
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"Here are the nuclear codes, sir."

Pulls out his phone.
 
dirtywick said:
to no one's surprise, this is from the guy that gutted the cpfb and got rid of biden's work on eliminating junk fees.
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On the one hand, there exist laws against usery, and the maximum rates charged by credit card companies certainly seem usurious.

On the other hand, credit card companies set their maximum interest rates based on a business model that ensures profitability. If forced to cap rates, they’ll likely respond by simply denying credit cards to those with marginal credit ratings.

So, in and of itself maybe not a horrible idea. Just one that will have unintended consequences.
 
Fast Eddie B said:
On the one hand, there exist laws against usery, and the maximum rates charged by credit card companies certainly seem usurious.

On the other hand, credit card companies set their maximum interest rates based on a business model that ensures profitability. If forced to cap rates, they’ll likely respond by simply denying credit cards to those with marginal credit ratings.

So, in and of itself maybe not a horrible idea. Just one that will have unintended consequences.
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well i think it's an indication of where they think the economy sits. they want people to spend even if it's on credit and are likely doing it for some short term stat padding. trump has indicated time and time again he wants lower rates

i don't think caps on interest rates are bad, in fact i think credit being too easy to get is a big cause of inflation and a problem on a personal finance level. denying credit to people is probably much needed, defaults are up and they're clamping on student loan borrowers soon. but the trump admin hasn't shown any interest in responsible governance, so while i think there's something to be said about accidentally doing something to benefit people, that's likely not the reasoning here imo
 
Andy_Ross said:
AFFORDABILITY! Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%.
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It should be noted that the president probably does not have the authority to cap interest rates. (That would require congress to bring in a law. There have been several attempts to bring in bills to limit rates, but Trump is not supporting any of them specifically.) and even if Trump did support a law to limit credit card rates, it certainly could not be enacted on the schedule he suggested.

See: https://www.google.com/amp/s/www.cn...-credit-card-interest-rates-at-10percent.html

Of course he said he is "calling" for limits. I guess him asking banks " please don't overcharge" is a form of "calling for".

My assumption... It's an empty proclamation that he won't actually do anything about, yet he will brag endlessly months from now about how he "fixed" credit card rates.
 
Andy_Ross said:
He has to know this is a stupid thing to lie about.
We all know China is investing massively in wind and has huge wind farms and turbine manufacturing.

Trump: All you have to do is say to China, how many windmill areas do you have in China? They are not able to find any. They don’t have windmills. I have told my people, we will not approve windmills. We will not approve any windmills in this country.

https://twitter.com/x/status/2009734556522557527
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Idiot.
 
dirtywick said:
well i think it's an indication of where they think the economy sits. they want people to spend even if it's on credit and are likely doing it for some short term stat padding. trump has indicated time and time again he wants lower rates

i don't think caps on interest rates are bad, in fact i think credit being too easy to get is a big cause of inflation and a problem on a personal finance level. denying credit to people is probably much needed, defaults are up and they're clamping on student loan borrowers soon. but the trump admin hasn't shown any interest in responsible governance, so while i think there's something to be said about accidentally doing something to benefit people, that's likely not the reasoning here imo
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People are relying on unsustainable levels of credit because they're not being paid enough to live on.
 
dirtywick said:
to no one's surprise, this is from the guy that gutted the cpfb and got rid of biden's work on eliminating junk fees.
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I'm sure our 'centrists' who are always harping about the fact that more left wing politicians want to put restrictions on how companies can fleece customers equates to total state control will be here soon to explain how Trump dictating what companies can do is totally different and freedom.
 
Stacyhs said:
The more they defend what Trump, Musk, and their supporters say and do, the more they prove your point.

Frankly, I'm surprised you are still a registered Republican. The Republican Party no longer exists. It's become the Trumplican Cult.
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To be fair, I'm a registered Republican. In that I wanted to maximize the number of times I got to vote against Trump. I honestly didn't really care who the Dems chose to run against in him the 2016 and 2024 elections. You know they'll choose someone with at least some semblance of sanity. I was always going to vote for the Democrat regardless. I just wanted a say in the Republican primaries to help the REAL Republicans to keep the Nazis from taking over their party. Turned out (in 2016), that the Republicans were already inundated with Nazism. At least in 2024, I voted for someone less able to unite and strengthen the Nazis than Trump.

Basically, my idea was to do a reverse-Goldwater on the GOP.
 
Andy_Ross said:
Vance: For the first time—maybe in American history—an administration that is not going to tolerate political violence of any kind from anywhere.

https://twitter.com/x/status/2009339527622742509
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They're going to do more than tolerate it, they're gonna commit it. They already have, and they are going to continue and there's nothing you or I can do about it. Count on it.
 
Fast Eddie B said:
On the one hand, there exist laws against usery, and the maximum rates charged by credit card companies certainly seem usurious.

On the other hand, credit card companies set their maximum interest rates based on a business model that ensures profitability. If forced to cap rates, they’ll likely respond by simply denying credit cards to those with marginal credit ratings.

So, in and of itself maybe not a horrible idea. Just one that will have unintended consequences.
Click to expand...

Just as likely, the credit card firms will increase the rates they charge retailers to make up the difference, thus driving up retail prices. The retailers won't like it but they have little power when so many people survive on credit.

WalMart tried to take them on a few years ago and had a number of stores stop accepting CC's to try and scare them into reducing their fees. The CC companies didn't flinch and WalMart was forced to backtrack very quickly as sales at those stores cratered.

What's most ironic is that trying to cap CC interest is very similar to price fixing which is something Chavez/Maduro did. Trump really is a banana-repuplic style dictator.
 
LiteBright said:
Just as likely, the credit card firms will increase the rates they charge retailers to make up the difference, thus driving up retail prices. The retailers won't like it but they have little power when so many people survive on credit.

WalMart tried to take them on a few years ago and had a number of stores stop accepting CC's to try and scare them into reducing their fees. The CC companies didn't flinch and WalMart was forced to backtrack very quickly as sales at those stores cratered.

What's most ironic is that trying to cap CC interest is very similar to price fixing which is something Chavez/Maduro did. Trump really is a banana-repuplic style dictator.
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Exactly this. The credit card companies can charge retailers lower fees than the charge card guys like AmEx because they're part-funded by those of their customers paying for credit when they can't clear off the debt at the end of the month. (They've always been a stupidly expensive way to borrow money but they make it so easy to do...) Anyway if Trump bans them from gouging fees from borrowers they'll just increase fees to vendors who will pass that cost on to their customers.

Another cost burden to shoppers on top of Trumps taxes on imports.
 
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