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Uneedawish, I understand your concern. As Carol states, much of their predatory lending is being outlawed. It is sad as a fact, that Pahoa would be able to support this business because of the economic times that open us up to businesses of this sort.
The fact also remains that although I think it is unethical, they are within the commerce laws of this state to do so.
Where is this going in? That has not been mentioned. I would also make an assumption that if the landlord could rent space to someone else they would have already done so.
So it is a catch-22. The economic condition of our state and country have made all of us more vulnerable to this time of business being successful. James Weatherford, many months, ago spoke of long range economics. If Puna's economics were doing well, this type of business would not even think about Pahoa as an venue for a successful operation. Although as 808 has said patronizing any business is a personal choice, sometimes when people are trying to feed their families or have enough gas to get to a low paying job, any job, it is hard to do more than try to survive.
That is why things like Pam is doing or sharing extra garden bounty with neighbors is important. It may just allow them to go one more day without going to Payday.
And this business will be supplying a few days jobs to the area. Not many I am sure, but more than zero. What can you say to the person who takes that job, or starves?
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808Blogger is not "cold-hearted". Rather, 808blogger is expressing the view that whatever the market does is right for America, and right for Pahoa and that we do not get to sit in judgment of what the market determines is right.
I disagree. What's right for Pahoa is that people who need such loans have a family that they can turn to, as I did when I was poorer, younger and even more foolish. In other words, what's right for Pahoa is that there be a community -- a local community that cares for the least in that community.
This pay-day loan place could care less. I once dated an accountant got in on the ground floor of such a place. Don't discount accountants! OH MY GOD. Please protect me! It wasn't supposed to happen this way! Anyway, he had a very good sense (in 1987) of why his might be a very lucrative industry. He is a gazillionaire now. A very, scary gazillionaire. He seems mild mannered, but there is cause for hyperventilation and fear. Take it from me.
Jesus. Lord amighty. Just ain't fittin'. No. It just ain't fittin'.
Anyway, these places are big, tubular and predatory and have no place in a normal healthy society.
Really, I mean, bring the volcano goddess down. This has all gone horribly wrong.
Pant.
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I do find 808blogger's comments to be "cold Hearted". But that is my opinion only. I wish he/she would not brush aside and make light of
such issues that concern all our lower income neighbors in all communities. Payday loans are economically destructive to everyone but the payday loan companies, period.
They should have a full size mirror on the outside of the door and a sign that says something like,
Look at yourself, do you REALLY NEED IT ?
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I like that idea pog.
Payday loan will be located across the street from Luquins restaurant.
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If mirrors were aimed into the business, would the proprietors cast a reflection?
Educating folks about the "terms" might be a good option, but in hard times, it's hard to tell.
Former Undersecretary of HUD, Catherin Austin Fitts, is an expert in predatory economic systems and alternatives to same. She's a passionate advocate for local communities and proposes some interesting concepts re. local currencies/local investment banks.
Might be worth a look.
Solari.com
"Catherine Austin Fitts' understanding of the global financial system and the inner workings of the Wall Street-Washington axis are unparalleled. As the former U.S. Assistant Secretary of Housing/Federal Housing Commissioner, Catherine was one of the first to warn of an approaching housing bubble. Her prediction that a 'strong dollar policy' would ultimately lead to a weakened federal credit is currently being proven correct. "
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Best place to get your money laundered is at a pay-day or title loan!
Yes, these places are the proverbial "dead canaries".
Puna: Our roosters crow first
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They would not locate in an area if that area didn't have customers for them.
Regardless of what moral compass one puts on this type of business, it's legal and people want it. Truth is, in states where they are illegal or tightly regulated; it has not stopped the problem of high interest short term loans. It just went underground, mostly into the hand of criminals.
But, ethics and business rights aside, I still have not heard any viable alternatives to payday loans.
Disclaimer: I did own shares of both First Cash Financial and Dollar Financial that resulted in a sizable gain to my investment portfolio.
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quote:
Originally posted by pog
They should have a full size mirror on the outside of the door and a sign that says something like,
Look at yourself, do you REALLY NEED IT ?
What do you suggest they do if the answer to the question is "Yes"?
Maybe under the mirror your could put your phone number and state that you would happy to loan them some money at a better rate or at no interest at all.
-Veritas odium parit”(Terence 195–159 BC))-"Truth begets hatred".
