On Usury

Here is the latest anti-capitalist screed from the Sun. Those wicked Jews payday lenders are there again, fleecing the poor. Bastards! They should be forced to charge a reasonable rate of interest, or preferably none at all, or else be shut down and thrown in jail.

Of course, the poor will then not be able to get ANY loans, but c’mon, priorities!

As with the minimum wage debate, lazy liberal journalists think wealth just falls out of the sky and that our only concern is how to distribute it equally. They don’t think about consequences. The poor are, for obvious reasons, terrible credit risks. NOBODY is going to lend them squat, unless they can charge high rates of interest to cover the risk.

Does this suck for the poor? You betcha. But is the answer to cut off the few sources of ready cash they still have?

Maybe instead of destroying credit opportunities, the sages of Baltimore can start to think about expanding economic opportunities in the city, allowing the poor to stand on their own two feet. Hm, what could we do? Admirably, the Sun a month ago criticized Councilwoman Clarke’s proposal to raise the city min wage to $15, but they should read this businessman’s description of the tax and regulatory burden of doing business in Charm City. If businesses have such trouble getting started and expanding, there will be no jobs, and the poor will have no other choices.

Updates on recent political events

Whew! It’s been far too long since I’ve added to this blog. A lot of other things went on in my own, as I’m sure it did in yours. One thing important happened: I changed my registration to Libertarian and joined the Libertarian Party. I’m keeping the domain name “Charm City Conservative”, since I still feel affinity with the conservative movement, but I’m definitely at the libertarian end of it. My focus is on reducing government, rather than on trying to use government force to achieve certain ends — not even conservative ones.

Last weekend, the LP had its national convention and nominated Gary Johnson and Bill Weld for President and VP. I agree with Tom Woods and Jeff Deist that Johnson seems to concede too much to the opposition, both on the left and right. For example, he is weak on freedom of association, but also has strong interventionist tendencies. For the latter, though, the “conservative” competitor Austin Petersen didn’t seem much better. I personally think that fighting the military-industrial complex could be the toughest task of any president, so we ideally want really strong non-interventionists for candidates.

On that note, I suppose it could be worse when it comes to Donald Trump’s near-victory in the Republican race. While Rand Paul was the least interventionist, Trump does seem much more willing to re-focus our foreign policy on national defense, rather than global policing, when compared to his rivals. The same, sadly, can’t be said for Hillary Clinton, the presumed winner of the Democratic race. Sometimes I wish I had registered as a Democrat just to cast my vote for Bernie and register my opposition to Hillary’s warmongering candidacy.