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Originally Posted by Apollia  In my opinion, usury basically comes down to profiting from someone's continued misfortune.... |
So if you want to borrow money for a home its a misfortune to have debt?
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Originally Posted by Apollia
If the end of usury would lead to more investment happening, I think that would be OK. I haven't looked into investing too much (I'm too broke, so knowing about investing would be of little practical use to me), but, off-hand, I can't think of any major problems with investing.
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No offense but your attitude towards money is really the reason you're broke. I'm not digging at you but what I am saying is true IMHO.
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Originally Posted by Apollia Unlike lenders, who profit more when an individual or business is struggling and is not yet prosperous enough to pay back their debt in full, investors profit when a business succeeds.....
If I'm not mistaken, investors also take greater risks than usurers, because investors can lose everything they invested without getting a cent back, and, unlike usurers, they aren't entitled to use the legal system to bully people into paying them back. |
The lenders can loose it all if the borrower goes bankrupt. Actually you have it wrong. The lender has greater risk if you measure it based upon potential reward. The lender is the one taking the risk and the borrower is the one who spends his or her time and efforts to get a return.
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Originally Posted by Apollia One thing that particularly annoys me is when usurers act like they're doing borrowers a favor by taking advantage of them. |
If you go to a bank to borrow money then you are asking them to do something for you. Assuming you are above 18, you're a big boy or a big girl. How is it that they are taking advantage of you?
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Originally Posted by Apollia Not to mention, until you pay them back, the lender is also given a lot of power over you, such as the legal right to harass you by hiring bill collectors, damaging your credit report, getting court orders against you to impose wage garnishments, .... |
Apollia, if you win the lottery could you loan me some money please? With your attitude I couldnt' go wrong... You wouldn't even bother me when I defaulted.
It seems you have a negative experience with borrowing money and that has jaded your viewpoint. When you build your credit back up and want to borrow money for a house or car sometime you'll be glad that loans exist.
Imagine a world where there were no loans and you simply had a house or car or you didn't. With no loans the poor would stay poor.
Money is leverage. Money makes money. If you borrow money for assets you will get ahead, if you borrow money for liabilities you will fall behind. Which did you borrow money for; an asset or a liability?
Please don't see what I'm saying as argumentative; try to take what I'm saying as constructive because until you change your viewpoints you will always struggle.