Cap on interest? I wouldn’t keep holding your breath wait in for that.

For people borrowing at 30% interest, which includes many credit card holders today (including basically every card issued by a retailer today), if this type of financing wasn’t available, the next best options are just going without. Problem is, some of those people are racking up high interest debt to do things like feed their kids. There’s a lot of collateral damage to just taking credit away from everyone with a score under 750, which is what doing away with high interest options will amount to.

> Problem is, some of those people are racking up high interest debt to do things like feed their kids.

Yes that is a problem.

Lending them money at ruinous interest rates is a cruel solution.

Perhaps we could do something about poverty that exists amid such huge wealth.

There will always be poverty and there will always be huge wealth.

Even in Soviet Russia and Mao's China, that was true. And nobody can say they didn't try to fix that 'problem.' Virtually the whole would would all agree that we'd prefer to not have it, and so many have made attempts, but no one has eliminated poverty, and those who have made a run at wealth equality the most fervently, like Mao, also killed billions in the process of failing to accomplish it.

My only point is that it's clearly a much harder problem than you pretend it is.

> My only point is that it's clearly a much harder problem than you pretend it is.

Ouch! I am well aware that it is a hard problem.

I am also aware that we are very smart monkeys.

We do not need the social disruption, and material misery among plenty that we have. It is a choice - a negative choice (a choice to take no action) maybe, but a choice nonetheless.