No. You made that up.
Interest/usury is the compensation the lender gets for the risk he is taking that he will never get his money back.
The higher the risk, the higher the interest rate.
It's easy to make pronouncements about what other people should do with their money, isn't it.
I have never heard of anyone being forced to take out a loan. Have you? I have never heard of idiots being forced to run up a credit card bill. Have you? I have never heard of idiots being forced to take out a student loan. Have you?
If you can't pay cash for something, you can't afford it.
I read Aquinas and Belloc, and the Holy Bible. I did not make anything up. Also, why is there such interest in my person? Please discuss the article and the ensuing posts. I do.
Interest/usury is...
Not all interest is usury, yet only usury is immoral. Read the article.
anyone being forced to take out a loan
A few posts above, I posted an excerpt from Aquinas. Indeed, in circumstances when one borrows from necessity and is subject to usury as a result, the guilt is not his. However, it does not follow that usury is OK if the victim is a voluntary one. For one thing, since the public policy makes no distinction between usury and legitimate lending at interest, the victims of usury often presume that they are doing a moral thing and borrow when they did not have to. For another, activities that are sinful should perhaps, remain allowed but they surely have to be branded as such. This is the practical conclusion Belloc makes.