Comments on: Capping Credit Card Interest and Economic Revolution

By: john kamuda

john kamuda — Thu, 18 Dec 2008 20:33:56 +0000

congratulations, it seems that the feds have heard about your idea and finally looking into putting a cap on credit card interest rates… and bad news for credit card companies, the practice of jacking up interest rates would soon be illegal!

By: Reuben Nieves

Reuben Nieves — Sat, 06 Sep 2008 03:28:01 +0000

I agree that credit card interest is to high. When Alexander Hamilton envisioned the Banking system he proposed a symbiotic relationship with the banks where credit would be extend to people with a low interest and that would stimulate business. At that time credit cards were not used. California has a usury law of 10% but that is preempted by federal law. Federal Preemption has been a sword to the consumer not a shield. We are serviceing debt and not purchasing product and thats bad. If credit cards were limited to 12% we could pay off our debt faster and by products which provides jobs and fresh income and the cycle replenishes our lives and quality of life. The lenders are greedy. They caused the housing meltdown we are now in. They blinded themselve to the risk by using stated income products with adjustable rate mortgages and negative amortization. They caused values to plummet by their massive foreclosures which affected the surrounding properties to the point were the surrounding properties could not refinance. They should be held liable.

By: Revellian

Revellian — Sun, 04 May 2008 03:39:36 +0000

Thanks Haney! It’ not just credit cards it’s all loans. Most of us are on the verge of losing everything we own and it’s really scary.

By: Revellian

Revellian — Sun, 04 May 2008 03:37:24 +0000

Hi Teeni! You really should watch it, it’s one of the best films ever made…I promise

By: Revellian

Revellian — Sun, 04 May 2008 03:36:04 +0000

I think Americans love and are fascinated with other cultures, except those given bad press in the political arena. The media has taught influenced people in such terrible ways, especially about the Mideast. People are different from state to state. People from California are much different than people from New York. California is almost like a different country!

Where I live on the Mississippi Gulf Coast, the people are much like people from Florida. Go 100 miles north from the coast line, and people are backwoods hillbillies – it’s really amazing.

I don’t really listen to popular music, mostly because I’m a musician and popular music is definitely not known for skilled musicians, it’s all packaged, formulaic music to sell albums. I’m a huge fan of Asian martial arts movies, especially the ones that aren’t in English

By: Haney

Haney — Sat, 03 May 2008 11:35:03 +0000

I like reading this kind of honest posts. Watched Oprah lots of times and I surprised that most Americans have credit card issues. We also have that in Singapore, but just minority.

Hopefully anyone from the US govt is reading this. Or it could be Paul?

Haney’s last blog post..Phrases From Movies Used In Daily Conversation

By: teeni

teeni — Sat, 03 May 2008 06:18:18 +0000

I came back to check your replies and I see I will have to watch that movie soon (before I forget – LOL). I actually planned to anyway when you first mentioned it in the previous post. Maybe I can watch it this weekend.

teeni’s last blog post..Im Outta Here!

By: EuroYank

EuroYank — Sat, 03 May 2008 05:23:50 +0000

Bobby, we have the same American movies over here, widescreen TV’s, etc that you have there. The difference is we can afford to buy the dvd’s, because instead of a 20% credit card here, the rates are unbelievable low and capped!

Those that do not wish to buy movie dvds, have to watch television and the commercials. European media is totally dominated by American movies, and American music.

All the top American movie stars come over here on a weekly basis. Some like Madonna decide to live here or have dual residences.

Lately, the German government for example tried to pass a law that at least 40% of all German radio stations play German music, because German radio also is completely American dominated.

Its kind of funny to watch John Wayne, or Frank Sinatra, or Star Trek, or all the others speak another language.

Strangely, the Europeans are not at all paranoid about their culture, their music, and their media being American dominated. Why are Americans paranoid about anything foreign?

EuroYank’s last blog post..The Uncelebrated American May Day Holiday

By: Revellian

Revellian — Sat, 03 May 2008 02:49:02 +0000

That is incredible! Here in America, 18% is considered a fair rate. Some cards are 30% which the Federal Reserve supposedly fixed today with new laws. Of course, these new laws will not solve any real problems.

On another subject:
I had some friends observe that conspiracy theories and the people pushing them are trying to get Americans to destroy themselves so they can take us over. I was a little disappointed in their ideas but they don’t understand the real purpose. The real idea is to wake up people so we can achieve democracy and bring power back to the people. The war is against the international bankers, defense contractors and other nefarious individuals who own us. I am convincing people everyday and in turn, they are convincing others.

One friend of mine asked, “What am I supposed to do…feel guilty about watching Star Trek?” Hahaha! It’s not that you cannot enjoy life, but learn how to see and know reality and fact. Ienjoy my life more and more the more I learn about what truth is

By: EuroYank

EuroYank — Sat, 03 May 2008 00:33:31 +0000

Bobby, I know all your American readers will be ticked off at the low credit rates in Europe ... Credit card interchange fees in the United States, ultimately paid by American consumers, are currently more than twice as much on average as they are in Europe -- the same credit card interchange fees just ruled too high by EU Commissioner Kroes. U.S. interchange fees on average are about 2 percent, while Visa Europe rates, for example, are capped at 0.7 percent. and here is the link .. EU TO MASTERCARD: CREDIT CARD INTERCHANGE FEES MUST BE CUT EuroYank's last blog post..The Uncelebrated American May Day Holiday