Trump Says Cap Credit Cards Interest at 10

There was a lot of inflation, and they took off the usury laws with that. Yet, when we had 0 percent interest rates for the banks years after the crash in 2007-2008, they continued to charge people big fees, an unbelievable spread, where they could get the money for free. It truly was amazing. At one point in time, when the interest rates started climbing up and they got into around the 5 percent range, people were saying, it’s still relatively cheap. It went up a little bit, and then it came back down. They said, yeah, this is like it was in the 1960s.

No, it wasn’t at all. In the 1960s, they were charging about 5 percent, but they would pay you 4 percent on savings. Now, they pay you 0.01 percent in most of these cases on savings. It’s just ridiculous, an insult, an insult of what they do, the spread that they have. They would charge people that still get the money for just one or two percent interest. They would charge people 5 percent on the mortgages. They would pay you nothing on the money that you save. And then when it came to credit cards, of course, we know how bad they were, 30, 40 percent in some cases, and how they would use that on people.

I said, you know, if I was running for office, I said, that’s the first thing I would do, is I would say, we’re going to put a cap on this. We’re going to get things back in line. We’re going to put a ceiling on what they can charge people in terms of a spread of what they’re having to pay, and we’re going to put a floor on it as well, as to what they have to pay people with savings. And so Trump jumped into a little bit of this. This is what he had to say.

And while working Americans catch up, we’re going to put a temporary cap on credit card interest rates. We’re going to cap it at around 10 percent. We can’t let them make 25 and 30 percent. Okay. Well, that’s good. I just don’t believe him. What I think he’s doing is I think he’s trolling for voters, but he’s also trolling for donations from big banks. You know, he talked a little bit before he ran in 2016 about the damage from vaccines and things like that. He was trolling for big pharmaceutical donations. He trolled them a little bit more when he ponied up millions of dollars and put the CEO of Eli Lillian as the head of HHS.

He put in pharmaceutical guys revolving door from Pfizer Moderna to be his FDA heads, and they went right back to Pfizer Moderna. But notice that he says temporary. Temporary? Why would he do temporary? Because what are we trying to do here? Are we trying to load? Hey, we’re going to take the interest rates down on your credit card. Great. Okay. Now I can afford to put more money on the card and then they’ll raise it up when he leaves or when there’s emergency circumstances or something like that, or when the banks buy more politicians.

So they get you to load up the card with a lower rate and then raise it. That’s something they’ve done quite a bit of. You know, they’ll do that. Now transfer your stuff over here. We’ll give you a lower rate and then they raise it up. And so, you know, credit card debt is really drowning people, especially because this is outright usury. This is organized crime. They used to put the mafia in jail for doing what the big banks are doing because they’re worse than the mafia, you know, and they work with the drug dealers, they work with terrorists and so forth.

They’ve been convicted of that over and over again. HSBC. So, but what about government debt? You know, we had, remember when Trump came after Thomas Massey? When Thomas Massey said, we can spend $3 trillion on this stimulus check, which was potty training for universal basic income is what it was. And so he said, we can’t do that. And he said, I want everybody to come to Washington and we got to get your vote on record. Trump was furious with him. You’re going to shut down my three and a half trillion dollars worth of debt that we’re going to pour in the American people’s back.

We’re going to primary him out. Well, fortunately they didn’t. And so now this week you had a uni party. Mike, Mike Johnson is out there trying to ram through a omnibus bill on everything with this second, you know, this stuff. And so here’s what Thomas Massey had to say. Madam Speaker, we are told today that we are going to vote on a continuing resolution with another bright, shiny object attached to it. I feel like this legislation is insincere and unserious. Now, why is it unserious? Well, it’s unserious because we’re cramming all government spending into one bill.

And instead of deciding what to spend on, we’re saying, well, let’s just spend at least as much as we spent last year and not worry about running any of these bills through committee or debating how much we should spend on things. It’s also unserious because we’ve spent two years uncovering deficiencies in our government. We’ve been stonewalled by the FBI and the DOJ. That familiar refrain. Oh, Mr. Congressman, that’s the subject of an ongoing investigation. And it’s our longstanding policy not to comment on that. Well, you could say that in a press release, but they shouldn’t be saying it to Congress, but they get away with it because we don’t cut their spending every time they do that to us.

If we would withhold the ink cartridge for one printer at the FBI, they would come to heal. Yet we’re not going to do that in this bill, this continuing resolution. It’s just unserious. It’s also very insincere. It’s an insult to the American people. It’s an insult to their intelligence to bring this bill to the floor because it sets up a fake fight that we all know here is fake. Somebody come down here and tell me it’s not fake. You all know it’s fake. And here’s what’s even more insincere about it. The compromise has already been reached in a smoke-filled back room here.

They already know what we’re going to do. It’s going to be a clean CR when we get to September 30th. And what is the deal they’ve reached? It’s the same deal they reach every year. We’ll let you spend a few million billion dollars more if you’ll let us spend a few billion dollars more. When in fact what we should be doing is correcting this country’s course, we’re on a course to financial ruin. And I ask my colleagues, when history looks back, how will it judge you for what you do today on this vote? Will it say, oh, well, this is a person who was unserious and insincere.

And instead of making the tough arguments and having the tough discussions with their voters, decided to get along on the path to financial ruin? Or will you be one of the people who stands up and says, this is unsustainable. We must stop it. I will not engage in a fake fight. I will not be part of this political theater. And will you stand your ground? Will you be one? Yeah. Well, of course, Trump will be a part of the political theater, as will Lala and all the rest of the people in Congress.

Good for Massey. He’s calling him out on how fake this all is. Oh, it’s even the fact that the FBI and they said, well, this is part of an ongoing investigation. We can’t talk to you. All they’re doing is putting on theater. They’re having these show trials because they want to get on TV. I mean, this is the legacy of people like Trey Gowdy and Jim Jordan, who do nothing but try to get their picture on TV. And of course, Trump is rearranging the deck chairs on the Titanic. I tell you what, we’ll lower your interest rate temporarily to 10% on your credit card.

That should fix everything, right? It’s going to make you feel good here. Have a little bit of sugar. Just like the, you know, telling you that you’re not essential and then giving you a little bit of a stimulus check. Let me tell you the day that night show you can listen to with your ears. You can hear me. That means you’re listening to the David night show right now. Yeah, good job. And you want to know something else? You can find all the links to everywhere to watch or listen to the show at the David night show.com.

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