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Between that and many "banks" offering you to "invest" in crypto straight from their mobile apps home page... it seems like they're trying to milk whatever is l

Between that and many "banks" offering you to "invest" in crypto straight from their mobile apps home page... it seems like they're trying to milk whatever is left in the pockets of the bottom tier Debt is a powerful tool when used by educated people for legit reasons, buying a new TV or chicken wings isn't one of them.

brianmcc 2y ago
Agree re chicken wings but there are plenty of reasonable and responsible credit options for spreading payments for a relatively unusual purchase - at least, not a daily or weekly necessity - like a TV
- account42 2y ago
  Not really - for something like a TV you can wait or get a more modest model. And if waiting would take too long then it's probably not a reasonable expense for you.
  - fireburning 2y ago
    i get the vibe from this comment you probably believe all poor people are poor because of their spemding habits :)
    - ohnoitsahuman 2y ago
      Depends. If your poor in America, then spending is often part of the equation. If your poor in India then perhaps not.
    - elicksaur 2y ago
      There are obviously external forces that contribute to anyone’s circumstances rich or poor. But, ultimately, you can only spend as much as you make in income, or go bankrupt. Choosing to tack on an interest payment to your costs is often an unnecessary additional cost for people. That’s true if you’re poor buying a rudimentary TV or rich maxing out credit cards to furnish your mansion.
  - brianmcc 2y ago
    Sorry no but domestic white goods such as TVs, fridges, laundry appliances, etc are the perfect use case for small credit plans where doing without or "saving up" is a poor alternative, and sensible non-extortionate credit options have been around for literally decades for this reason.
- palmotea 2y ago
  > Agree re chicken wings but there are plenty of reasonable and responsible credit options for spreading payments for a relatively unusual purchase - at least, not a daily or weekly necessity - like a TV That stopped being true a long time ago, at least in the US. TVs can be had incredibly cheaply nowadays. A quick Amazon search shows many models available for circa $100. That's like less than a dozen fast food meals. If you need a TV, save your money and buy one you can afford. A predatory payment plan should not be used.
  - brianmcc 2y ago
    OK but US really is in a world of its own these for a lot of things. In the UK it's very common to get 0% interest installments. Which is not to have a go at the US, but to just make the point that buying domestic appliances is not a simple "bad credit" case. Unlike chicken wings.
fireburning 2y ago
man that's the engine of modern day slavery or commonly referred to by the players of the game as the trap :)
asow92 2y ago
Since we're already dealing in absurds here, what if one were to Doordash 50 servings of wings as a emergency/backup catering option for a banquet or wedding? That could easily top $500-800. I sure some consumers—including financially secure ones—would appreciate an interest free loan option on that. Obviously there is also the opposite dark and pessimistic take here, but there are potentially good things as well?
- ceejayoz 2y ago
  A financially-secure person can put it on their credit card, and pay no interest because they always pay their full statement balance. Someone who can't probably shouldn't be spending $800 on wings.
  - gruez 2y ago
    >A financially-secure person can put it on their credit card, and pay no interest because they always pay their full statement balance. klarna offers a 4 equal interest free payments option. How that any different from a credit card?
  - fireburning 2y ago
    im all for let us poor brokies do what we want
  - asow92 2y ago
    As a financially secure person, why would I want to spend $800 today when I can spend $800 over four months with no penalty? It doesn't make any sense in the slightest, that is unless you're not savvy enough to keep track of your money?
    - ceejayoz 2y ago
      Klarna is four payments over eight weeks. That's about the same float as a credit card, which can be up to 60.
      - 2y ago
dialup_sounds 2y ago
I got a similar vibe from RobinHood adding sports prediction markets.
- xp84 2y ago
  I highly approve of the acknowledgment of both of those types of gambling being treated as one thing.
  - drivingmenuts 2y ago
    I trust both entities equally. Which is to say: not at fucking all.
NoMoreNicksLeft 2y ago
>Debt is a powerful tool when used by educated people for legit reasons, Debt is a dangerous tool when used carefully and intelligently. When used carelessly or unintelligently it is a ruinous monster. We live in a world that allegedly is more educated than ever, but I don't think education is sufficient to avoid this pitfall.

brianmcc 2y ago

Agree re chicken wings but there are plenty of reasonable and responsible credit options for spreading payments for a relatively unusual purchase - at least, not a daily or weekly necessity - like a TV

account42 2y ago
Not really - for something like a TV you can wait or get a more modest model. And if waiting would take too long then it's probably not a reasonable expense for you.
- fireburning 2y ago
  i get the vibe from this comment you probably believe all poor people are poor because of their spemding habits :)
  - ohnoitsahuman 2y ago
    Depends. If your poor in America, then spending is often part of the equation. If your poor in India then perhaps not.
  - elicksaur 2y ago
    There are obviously external forces that contribute to anyone’s circumstances rich or poor. But, ultimately, you can only spend as much as you make in income, or go bankrupt. Choosing to tack on an interest payment to your costs is often an unnecessary additional cost for people. That’s true if you’re poor buying a rudimentary TV or rich maxing out credit cards to furnish your mansion.
- brianmcc 2y ago
  Sorry no but domestic white goods such as TVs, fridges, laundry appliances, etc are the perfect use case for small credit plans where doing without or "saving up" is a poor alternative, and sensible non-extortionate credit options have been around for literally decades for this reason.
palmotea 2y ago
> Agree re chicken wings but there are plenty of reasonable and responsible credit options for spreading payments for a relatively unusual purchase - at least, not a daily or weekly necessity - like a TV That stopped being true a long time ago, at least in the US. TVs can be had incredibly cheaply nowadays. A quick Amazon search shows many models available for circa $100. That's like less than a dozen fast food meals. If you need a TV, save your money and buy one you can afford. A predatory payment plan should not be used.
- brianmcc 2y ago
  OK but US really is in a world of its own these for a lot of things. In the UK it's very common to get 0% interest installments. Which is not to have a go at the US, but to just make the point that buying domestic appliances is not a simple "bad credit" case. Unlike chicken wings.

fireburning 2y ago

man that's the engine of modern day slavery or commonly referred to by the players of the game as the trap :)

asow92 2y ago

Since we're already dealing in absurds here, what if one were to Doordash 50 servings of wings as a emergency/backup catering option for a banquet or wedding? That could easily top $500-800. I sure some consumers—including financially secure ones—would appreciate an interest free loan option on that. Obviously there is also the opposite dark and pessimistic take here, but there are potentially good things as well?

ceejayoz 2y ago
A financially-secure person can put it on their credit card, and pay no interest because they always pay their full statement balance. Someone who can't probably shouldn't be spending $800 on wings.
- gruez 2y ago
  >A financially-secure person can put it on their credit card, and pay no interest because they always pay their full statement balance. klarna offers a 4 equal interest free payments option. How that any different from a credit card?
- fireburning 2y ago
  im all for let us poor brokies do what we want
- asow92 2y ago
  As a financially secure person, why would I want to spend $800 today when I can spend $800 over four months with no penalty? It doesn't make any sense in the slightest, that is unless you're not savvy enough to keep track of your money?
  - ceejayoz 2y ago
    Klarna is four payments over eight weeks. That's about the same float as a credit card, which can be up to 60.
    - 2y ago

dialup_sounds 2y ago

I got a similar vibe from RobinHood adding sports prediction markets.

xp84 2y ago
I highly approve of the acknowledgment of both of those types of gambling being treated as one thing.
- drivingmenuts 2y ago
  I trust both entities equally. Which is to say: not at fucking all.

NoMoreNicksLeft 2y ago

>Debt is a powerful tool when used by educated people for legit reasons, Debt is a dangerous tool when used carefully and intelligently. When used carelessly or unintelligently it is a ruinous monster. We live in a world that allegedly is more educated than ever, but I don't think education is sufficient to avoid this pitfall.