We’ve done a wonderful thing. We’ve lowered the poverty rate dramatically during the pandemic. From 17.5% down to 11.9%! And, no, silly, it wasn’t the COVID-19 disease that created that change.
Continue reading Keep it coming
Several years ago, I complained about the payday loan industry. This ‘financial system’ makes the neighborhood loan shark look downright welcoming. After all, if one needs to borrow $ 200 for a week until payday, s/he is slapped with a (loan origination) fee of $ 15 and an interest charge of $ 20. That is exactly what Lenny the Arm used to charge when he operated on the back streets of Brooklyn. (In case your math is weak, the fee for this loan is about 300%!)
Continue reading STSDC Corrections
I can recall sending out our truck drivers routinely to make deliveries to hospitals and clinics around the US. And, because our company was growing by leaps and bounds (we averaged 220% growth from year 2 to year 12 (the first two years manifested even greater growth), we sent them out with enough cash to get to their destinations. Then, as our payments rolled in, we got them money for their return trip.
Continue reading When do we enforce the usury laws?
