Apple
Apple
Out of context: Reply #2201
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- Nairn0
Actually, a credit card is ideally paid off in full each month, and is rather than a means of creating debt in people, a means of creating credit in banks. For banks, credit = money, so the more of it they create, the more money the can print, the more money there is in the system, the more money there is for everyone. But in particular for rich people.
Perhaps that means they're more insidious than mere debt vehicles for proles like me. I'm unsure.
- Of course, indebted individuals can get shafted by % payments, so that's cool for The Goldman and Sachs' of the world.Nairn
- i'm not sure that credit cards would be around if everyone paid the cards off at the end of each month.hans_glib
- Those that do pay in full every month get free credit at the expense of the poor sods who get sucked into the debt spiral of silly interest rates.hans_glib
- THAT'S how the banks (and now Apple) make moneyhans_glib
- Sure, they're a money maker, but credit itself is what keeps the entire entire banking industry from imploding.Nairn
- true, but banks don't print moneymonospaced
- it's a figure of speech. "Money is made by credit being added to the system", which equates to banks 'printing' money.Nairn
- i seemonospaced
- I love Apple's new business model, stop selling iPhones and generate more money with interest rates from credit cards.jmckinno
- At least their rates are super low.monospaced