Mark Moss

People can't afford to live.

And at the end, what the leaders always try to do is try to appease the people by price fixing.

It always comes down to that.

We can't stop prices going up because we can't stop printing money.

So how about we'll just cap prices?

And so whether that's rent controls, Elizabeth Warren wants to cap the price of turkeys for Thanksgiving, or it's credit card rates.

The problem with price controls is we have a thousand cases of it not working.

And just from a philosophical level, you can understand why.

So for example, credit cards, banks is a very competitive industry.

Credit cards are very competitive and they're trying to get as many customers as they can.

And they're constantly trying to

undercut each other in order to get more customers who cares what credit card you have you think about the rate and so it's very very competitive and so they want to get as many customers they can without blowing themselves up and so they're already trying to get rates down as low as possible they understand that people can just change balances from one card to the next and so if they could lower rates they certainly would the problem is when you cap it at 10 first of all

He said it's illegal.

So there are already caps, right?

There are usury laws.

So there are already caps.

But he wants to lower it to 10%.

I was a California finance lender, I should know.

Mark, finish your thought, I just wanna- So what I was saying is that it's already competitive.

Credit card companies are already competing to bring the rates as low as possible.