Through the Broken Window

North Carolina "declared victory" against payday lending yesterday. Does anyone else see the problem with this? The absurdity of this agenda is quite substantial. Umm... how is this going to help those people without checking accounts or credit cards? They are still going to have to get their cash from somewhere and it is likely we will be creating a substantially large illegal market, or if nothing else, increased pay-day lenders at the borders -- kinda like we used to have with fireworks and lottery tickets. This has also gotten rid of substantial competition for the banks and other lending services. I guess no one really thought about the unintended consequences -- but I guess when your Attorney General is in the business of killing off industries with our "best interests" in mind, that is what you get.

Joe covers it: here.

But there is light at the end of the tunnel.
Scratch, like you've never scratched before! It will be a good investment!