Trump's Economic Illiteracy | Hn 98

Trump has said he would do some big things, and he followed through on some big things. One of his "promises" was to cap consumer credit card interest rates at 10%. That's complete lunacy, and Adam and Tyrone are here to tell you why. Enjoy!

00:00 – Intro. Is Trump now "to the left" of Bernie Sanders and Alexandria Ocasio-Cortez?
02:20 -- Is this idea going to go anywhere? Should it? An examination of the Commerce and the Necessary and Proper clauses of the US Constitution. Should the Constitution have hyperlinks?
08:59 -- What the Wickard v Filmore case shows about human irrationality. This is how and why lawyers and judges torture the plain language of legislation to distort the law.
12:47 -- What are the obvious economic repercussions of such a law? What is "interest"? What is it's purpose in an economy? What happens when you don't allow this price to operate? How could caps like this lead to things like the 2008 financial crisis?
24:32 -- Regulation begets regulation which begets more regulation. The old lady who swallowed the fly was supposed to be a warning. We didn't listen. Also: Interest rate caps are price controls, and price controls are bad.
27:29 -- What about the biblical prohibition on usury? How should we think about that?
33:48 -- Outro. Thank you for watching Haman Nature!

Haman Nature article about regulation: https://hamannature.substack.com/p/there-was-an-old-lady-who?r=2u0knv

Mises Institute article about usury: https://mises.org/mises-wire/tucker-carlson-and-aoc-are-wrong-about-christianity-and-usury

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Adam's other show: https://naturalorderpodcast.com/