Reply to Wow the lack of financial education in this country is staggering

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Just read on Reddit this AM someone bragging about a great deal they had on a car. By the second comment someone pointed out that they had a 29.99% APR. The OP was confused why it was an issue. They said the payment was manageable so it was a great deal.

I bet you that OP has a college diploma and probably from an acceptable school.

I am all for personal responsibility and all, but the degree to which we freely f**k clueless people (with the backing of the government) is truly disgusting. Why anyone think payday loans, 29.99% APR on car loans, taking advantage of younger female buyers who work hard for their money is absolutely disgusting. We are better than this. But it seems to me that in this country actually taking advantage of someone who isn't as financially educated is a sign of healthy functioning economy. And the scary part is a big portion of our economy operates this way.[/quote]

No, we aren’t better than this. This country is run by big businesses that absolutely depend on a huge number of people not being fiscally literate. [/quote]

Think about all of those bankers that made off like bandits effing the global economy pushing subprime mortgages off on schmucks in the early 2000s. If you go into poor neighborhoods there are still payday  and car title loan places that only desperate and clueless people would use. [/quote]

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