[econjack]

This is about as simplistic as the drawings used to illustrate it. If the purpose is to say credit should be used wisely, fine. If the intent is to say that capital markets are unnecessary or evil, the premise is simply stupid.

[Rippin]

Just read about the sabbath and jubilee prescriptions in Leviticus. The lack of setting the slate clean once in a while will bite us. God owns everything. How should that be reflected in commerce? Just asking.

[vladimir998]

Shouldn’t you be selling insurance?

[backwoods-engineer]

Lending money to someone so they can ... buy a house to live in, a car to drive

Bull.

On the contrary, as long as the interest rate is not too high, these loans are a needed service. You may be able to buy a home without a loan, but I can't.

There are bigger fish to fry than this. It is just a distraction.

[MortMan]

Usury is between sometimes and always.

[gusty]

With this type of thinking, I would still be working the land of some feudal lord in Europe.

[FranklinsTower]

This analysis is seriously flawed. It does not take into account other goods and services that can be traded of like value instead of money. It also does not take into account the velocity of money changing hands many times over time.

In sum, it is a very badly flawed and way over simplified analysis.

[Arthur McGowan]

The very first distinction made in this article is nonsensical and gratuitous. Why is the oil somehow more “worthy” than the flat-screen TV or the Christmas presents? Because the author says so.

As Chesteron said, every crank has a theory about money, and a theory about the Jooooooooz.

[Alex Murphy]

From a moral stand-point, money lent for things like entertainment and personal consumption are considered usury. Money lent for economic gain is not.

Ping for later

[ReverendJames]

When the interest rate is so high that just servicing the loan will never pay it off. A friend was paying on his credit card with just the required payment. At the end of the year he owed more than when he started at the beginning of the year.

[svcw]

So my grandson says “hey grandma, can you loan me $20 till payday”, is usury because he goes to a movie but if he wanted to drill for oil it would be OK?
It has been my experience that people who write these sort of articles (now blogs) do so because they have not been able to control their own finances and borrowing has gotten out of control for them. In order to make themselves feel better they start harping on “usury” and/or interest and paying for everything in cash, having no concept of balance in their lives.

[redgolum]

For later.

[bobjam]

I have always defined usury as profiting from the misery of others. In the ancient world, people resorted to money lenders as a last resort to avoid starvation or selling family members (or themselves) into slavery. The money lenders would take advantage of the desperation and charge interest for personal profit. It’s one thing to invest in someone’s potential; it’s someting else to profit from their misery.

I see manifestations of usury in the price gouging of disaster victims for food and water.