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The article says that the bank creates jobs by offering below market rate loans if and only if the debtor creates a job for every 100K borrowed. And then the au
by pandaman 14y ago
The article says that the bank creates jobs by offering below market rate loans if and only if the debtor creates a job for every 100K borrowed. And then the author concludes that if 1T of states money were deposited in the state banks under the same conditions then 10M jobs were created.
How can this possibly make sense to anybody? What if I offered a loan bellow market rates if and only if the debtor cures a case of cancer for every penny borrowed? 10 grand under the same condition would cure a million people of cancer... not.
- Evbn 14y agoThe article makes the plausible claim (but perhaps incorrect) that Dakota is tapping less than 1% of the addressable market, and has shown a sustainable MVP. The cancer example does not have these qualities.
- pandaman 14y agoNo, the article makes a fantasy claim that an intent is as the same as the reality. This is the same magical thinking I observe on the Left routinely. An intent to give a loan under certain conditions does not mean these conditions will ever be satisfied even less so that these conditions will be satisfied for any amount of the loan.