Page 3 of 5 FirstFirst 12345 LastLast
Results 21 to 30 of 44
Thanks Tree33Thanks

Thread: Sick of Shady Banks? Get a Loan from the Post Office!

  1. #21
    Member
    Joined
    Sep 2014
    Posts
    3,964
    Thanks
    1118

    From
    TN
    Quote Originally Posted by OldGaffer View Post
    The Post Office has lost over a third of its business<shrug>
    Its almost as if you bring no facts to this conversation whatsoever. They did not lose 1/3 of their business. In 10 years, their sales dipped from $74bn to $69.6bn

    At a time when UPS and Fedex see their sales increasing.

    Quote Originally Posted by OldGaffer View Post
    Time for them to expand their business model, don't you think?
    No, its not, its time to privatize the system and to turn it into a profitable business.

  2. #22
    Southern Strategy Liberal OldGaffer's Avatar
    Joined
    Jul 2013
    Posts
    41,560
    Thanks
    43685

    From
    Nashville, TN
    Quote Originally Posted by publius3 View Post
    Its almost as if you bring no facts to this conversation whatsoever. They did not lose 1/3 of their business. In 10 years, their sales dipped from $74bn to $69.6bn

    At a time when UPS and Fedex see their sales increasing.



    No, its not, its time to privatize the system and to turn it into a profitable business.
    You seem to be lost in the right wing bubble, free from facts and full of Ayn Rand ideological bullshit.

    This past year, USPS reported a $2.7 billion loss. A look at the revenue side of the ledger reveals why. Mail volume is sliding. Less mail means less money. A decade ago, USPS raked in $75 billion in revenue; last year its haul was a little less than $70 billion. Mail volume peaked at 213 billion mail pieces in 2006; it was 149 billion in 2017. That is a 30 percent fall-off. There are simply fewer letters, postcards, marketing mail (aka junk mail), and periodicals being sent, as big mailers and John Q. Public alike have shifted to electronic delivery.

    So I was off by 3.3 percent, you had no clue at all what the fuck you were talking about.

    There's more than one reason the Postal Service is losing money | TheHill

    Making the Postal Service viable for the 21st century will require a top-to-bottom rethink. Parcels priced at profitable rates may be a part of that new model, but more widespread, robust change is needed, lest taxpayers wish to find themselves bailing out the Postal Service.

  3. #23
    Thought Provocateur NightSwimmer's Avatar
    Joined
    Jun 2014
    Posts
    37,857
    Thanks
    35679

    From
    United States
    Quote Originally Posted by Southern Dad View Post
    Really? People with good credit can get loans, whether a physical bank is present or not. We have this thing called online. People who go to payday lenders? Those are people who do not have the creditworthiness to get a normal loan. They charge such high interest rates because the default rate on these are terrible. It isn't a question of if the debtor defaults but when.

    I see. You're talking about the people who are just animals, huh?

  4. #24
    Veteran Member Southern Dad's Avatar
    Joined
    Feb 2015
    Posts
    37,117
    Thanks
    7596

    From
    Shady Dale, Georgia
    Quote Originally Posted by NightSwimmer View Post
    I see. You're talking about the people who are just animals, huh?
    No, I’m talking about people are a huge credit risk.

  5. #25
    Thought Provocateur NightSwimmer's Avatar
    Joined
    Jun 2014
    Posts
    37,857
    Thanks
    35679

    From
    United States
    Quote Originally Posted by Southern Dad View Post
    No, I’m talking about people are a huge credit risk.

    What makes you think that a banking service operated from a post office would seek such clients? I can't imagine that loaning money to people with bad credit would be a part of their mandate.

  6. #26
    Veteran Member Micro Machines Champion, Race Against Time Champion Tedminator's Avatar
    Joined
    Jun 2010
    Posts
    24,516
    Thanks
    14468

    From
    South Florida
    Quote Originally Posted by labrea View Post
    MAY 18, 2018

    by BRIAN WAKAMO

    Millions of Americans live in “banking deserts,” without adequate access to brick and mortar banks and the services they provide. Rural and poor communities, where local banks left town thanks to the recession or the big banks buying them out, are especially affected.

    Often it’s risky payday lenders who come along to fill the void.

    They exploit America’s 88 million “underbanked” people, making ridiculous profits by charging sky-high interest rates on people just trying to survive paycheck to paycheck.

    In some places, annual interest rates for these lenders average over 500 percent. That badly hamstrings low-income people with fees and interest payments, all because they lack simple banking services.

    snip

    One solution could come from your friendly neighborhood Post Office. What if you could get a low-interest loan there, rather than an extortionate payday loan from a for-profit payday loan company?

    Postal banking used to be widespread. Now it could be coming back.

    New York Senator Kirsten Gillibrand recently announced a bill to reintroduce the practice, aiming to put the Post Offices scattered throughout the country for a broader use: providing banking to the unbanked. The bill would allow postal banks to make loans of up to $1,000 at low interest rates, cash people’s paychecks free of charge, and provide other basic services such as checking accounts.

    https://www.counterpunch.org/2018/05...e-post-office/
    Sounds good. But the USPS should charge something for cashing paychecks, atleast to cover the expenses incurred for providing that service.

  7. #27
    Veteran Member Southern Dad's Avatar
    Joined
    Feb 2015
    Posts
    37,117
    Thanks
    7596

    From
    Shady Dale, Georgia
    Quote Originally Posted by NightSwimmer View Post
    What makes you think that a banking service operated from a post office would seek such clients? I can't imagine that loaning money to people with bad credit would be a part of their mandate.
    Read the story, these people are currently using payday lenders. The only people using payday lenders are people who can’t get a regular loan or a credit card.

  8. #28
    Member
    Joined
    Sep 2014
    Posts
    3,964
    Thanks
    1118

    From
    TN
    Quote Originally Posted by OldGaffer View Post
    You seem to be lost in the right wing bubble, free from facts and full of Ayn Rand ideological bullshit.




    So I was off by 3.3 percent, you had no clue at all what the fuck you were talking about.

    There's more than one reason the Postal Service is losing money | TheHill
    You just cited the very same sales figures actually.

  9. #29
    Newm' Embre orangecat's Avatar
    Joined
    Apr 2018
    Posts
    1,781
    Thanks
    377

    From
    oregon
    The federal government does such a great job with its own finances, what could possibly go wrong?
    Thanks from bajisima

  10. #30
    Thought Provocateur NightSwimmer's Avatar
    Joined
    Jun 2014
    Posts
    37,857
    Thanks
    35679

    From
    United States
    Quote Originally Posted by orangecat View Post
    The federal government does such a great job with its own finances, what could possibly go wrong?

    They could privatize the postal service and turn it into a mafia operation.
    Thanks from Ian Jeffrey

Page 3 of 5 FirstFirst 12345 LastLast

Similar Threads

  1. In Memoriam - The Victims of Shady Hook
    By roberthughey in forum Current Events
    Replies: 17
    Last Post: 16th December 2012, 12:23 PM
  2. Replies: 0
    Last Post: 6th July 2012, 07:25 AM
  3. What to do if banks refuse to loan?
    By mikeyy in forum Economics
    Replies: 5
    Last Post: 31st December 2008, 06:57 AM
  4. Obama's shady ALLIANCES
    By lakeman in forum Political Discussion
    Replies: 2
    Last Post: 7th October 2008, 12:01 PM
  5. China banks told to halt lending to US banks
    By michaelr in forum Political Discussion
    Replies: 17
    Last Post: 25th September 2008, 02:32 PM

Tags for this Thread


Facebook Twitter RSS Feed