or most fancy iphones

the people decide what they want to buy

And if the market offers, people can buy it
If the market isn't there and people want it, Someone will get funding to get into that market and people will buy it

¯\_(ツ)_/¯

More favorable example for the non-capitalists is predatory lending

true

It's legal, you sign the loan, you can read the letter of what you're being offered, and accept it

But it's certainly not contributing to society to have alot of people bait people into predatory loans, and then profit off their misfortune.

thats a grey area for me

Because it sucks when people get suckered into that and become endebted

On the other hand, those people are adults, they should be responsible

there can't always be a protector/parent/nanny around

Its like Thomas Sowell said, something along the lines of
"You can't subsidise stupidity, and expect people to become more responsible"

I agree with the last bit, but i feel like this is a good example of where regulation is warranted. Stoping it entirely probably isnt worth it, but making it harder to do, and trying to inform people if they're being suckered is good.

true

I think that is a big issue that isn't factored in schools

Ultimately though, Yeah, you cant cure stupid.

you might be able to cure it, by letting people fall, and climb back up

or well, not stupid, Recklessness

Im not sure i'd call it reckless

Alot of predatory loans come in the form of payday loans and such

People cant quite make ends meet, they take the loan, they inevitably fail to pay it quite on time

yeah but i meant it in the sense of, stupid people will always be stupid,
But they can be careful and not dive stupidly into such deals

by thinking "oh this will fix my issues, *sign*"

Well they probably figure they can pay it in time

But then they fail, and the penalty is very high.

Payday loans have interest rates approaching 30%~

I think ive seen even higher.

(Per month)

yeah, hence, they should be careful and consider it, as opposed to thinking "oh i'll make it"
get a plan, set up a budget, etc

Yeah, ideally, but people rarely do things ideally.

hence, their recklessness should be punished, so they'll think about it next time

more often than not in life you don't get a 2nd chance for things, so people better be able to do it right the first time

It'd be much, much, much more preferable if the situation where they ended up doing this didnt arise.

Im not a fan of the 'you fucked up somewhat, so here, live with this crippling punishment'

Like people getting caught with weed and being sent to jail for 5 years.

Shit's stupid.

that i can agree with, lot of stupid rules should be removed
there should be a general living education in schools atleast for the basics so such incidents can be avoided
And there should be something of a regulation that prevents predatory loans

cuz many people can't Life

Some states in the US are imposing regulations that prevent, or at least minimize payday loans at least

Forget the details of how

Why government want to know peoples assets, but not debt 🤔

You can't tax debt

It's like I see you have 200k in assets you must be doing pretty well, but like you also have 120k in debt, so really not that well