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Comment Re:Why is US public education so bad? (Score 1) 152

This, to me, is a mystery.

There's no mystery to it. Public education in the US was not founded on the principle of educating children, it was founded on the principle of indoctrinating them into being good citizens. The only change has been who gets to define "good citizen."

Comment Re:So that's only the card networks (Score 2) 127

With rates so high above prime, why do people carry balances?

Because they're living beyond their means. Sometimes, that's someone being foolish, and sometimes, it's someone in a bad spot through no fault of their own, but they feel the need to spend money they don't have.

If a tough spot where you need to bail yourself out at tremendous expense, even personal loans have better rates.

Historically, credit cards are easier to get than personal loans. At times, a lot easier.

If you need to put a large expense on a credit card, finance it specifically instead.

If you can.

Comment Re:So that's only the card networks (Score 2) 127

There's a lot of companies issuing custom branded credit cards, but they're just reselling products from one of the major companies, Visa, Mastercard, Discover and Amex. (Yes, there's a few other minor players, but they're not especially relevant. And there's in-house credit accounts a major retailers, but those are also not relevant to this discussion.)

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