No. of Recommendations: 1
I just read that PayPal posted another solid earnings report.

LBYM.
A friend asked me a couple weeks ago for some advice on how to get outta debt.
I asked some questions and learned that he has a PayPal credit account and a PayPal credit card. For the two accounts, he's carrying a total balance of about $4000. I asked the APR... 34% on both. THIRTY FOUR percent!

After pointing out that 34% is roughly 1/3... He eventually grokked that he is paying $1300 in interest each year.

Back to PayPal's solid quarter. It appears to be based on usurious rates. Supposedly personal debt is high and growing. When this bull market ends, will PayPal kneecap their debtors to get payment? Is PayPal TBTF - and privatize the earnings while socializing the loss?

No wonder many people cannot live below their means?

😯
ralph
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