Divemedic

No More Credit

Trump is claiming that he will support a rule change for credit cards that will cap interest rates at 10%. This is a horrendous idea that will cause real problems. The reason interest rates are where they are is a topic I have visited here before. People with bad credit are very likely to default.

With a ten percent interest rate, if more than 3% or 4% of people default, the bank will lose money covering the defaults.

Studies have shown that the lower your FICO score, the higher are your chances of default.

Credit Score% of the populationprobability of default
800 or more13%1%
750-79927%1%
700-74918%4.4%
650-69915%8.9%
600-64912%15.8%
550-5998%22.5%
500-5495%28.4%
less than 5002%41%

Credit Scores and Default Rates

With a ten percent default rate, anyone who has a credit score less than 700 is a money loser and won’t be able to get anything other than a secured credit card, and those with a credit score between 700-749 are right there on the border and will likely see cards with very low limits.

That isn’t to say credit scores are without fault. I detest how the FICO score works, but it is what the banks use, and for that reason, Trump’s actions will make sure Americans stop living beyond their means.

Maybe that’s his intent. If it isn’t, well, price controls never work as intended.

By Divemedic, ago

This is so Last Week

I know this is from last week and the left has since moved on, but below is a great video on the EF-18 Growler.

When I was in the Navy, we still had the EA-6B Prowler, affectionally called the “Queer.” The Growler has the same job, it’s just been modernized. There were 2 squadrons of these in the Venezuela theater: one was carrier based, the other was located in Puerto Rico.

There was a legend going around when I was in the service about a Prowler that had turned its jamming equipment on over Washington state and shut down everything: radars, radio, television, all of it for almost 15 minutes. Don’t know if it is true, but it certainly is within this plane’s capabilities. The jamming pod these aircraft carries is the AN/ALQ-99, which can jam all RF signals between 64 MHz and 20GHz.

In the run up to the Venezuela attacks, those Growlers would have shut down all radio and radar. No missiles, no tracking or seeing aircraft, and no issuing of orders to anti-aircraft batteries. All command, control, and communications (C3) would have been shut down. All radars inoperable. Anything that tried to shoot or track anyhow would have been eliminated by the F-35s that were operating over the country.

An entire nation’s air defense, shut down in a couple of minutes.

By Divemedic, ago

ONE TIME PAD

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By Divemedic, ago

Electric Bugaloo

EDITOR NOTE: I originally had this post scheduled for Friday morning, but Tim Walz has forced me to reschedule it to release this evening. He has just activated the Minnesota National Guard to assist local law enforcement. Read below, and see why I feel like there is a high probability that the support the NG will be offering is assisting local LEOs in doing something stupid like attacking or arresting ICE agents.

I believe that this is a serious development. END NOTE, ORIGINAL POST FOLLOWS

Tim Walz is threatening the United States with military force.

The guy who lost in the last presidential election says he’s “at war” with the federal government…that sounds like some third world wannabe dictator shit right there. He has issued prepatory orders to the National Guard to prepare for deployment.

Of course, most people don’t know that, like his staunch defender Swalwell, Walz was banging a Chinese spy while he was living in China, as well as being a fluent speaker of Mandarin Chinese.

I believe that the left is trying to get Trump to invoke the insurrection act, and has been since April of last year. That is the only thing that makes sense- they are trying to provoke him so they can say “See? We told you he was going to declare martial law, but you wouldn’t listen.”

JD Vance wrecked Tim Walz playing tough guy and calling for Civil War:

It’s very tough rhetoric from a guy who just quit because his fraudulent activities have been uncovered… Tim Walz is a joke.

The left is deliberately trying to provoke a civil war. The woman who is sparked this, this lefty Helen of Troy? She was a communist operative and trainer from Antifa. This carpet munching nutbag and her scissor partner moved from Kansas City to Canada in the wake of the election, then moved into the Minneapolis area a few months, where they immediately got involved as training cadre for anti law enforcement leftists.

By Divemedic, ago

It’s Coming

The left is ramping up their resistance of Trump, and now even local government officials and law enforcement are joining in the resistance.

The left is dumb, in that they are making this look more and more like an insurrection. Here is the insurrection act (pdf not hosted here at this site).

Trump will keep goading them, and they will stupidly continue their idiocy, until it reaches a level that permits him to use military force to suppress the insurrection.

By Divemedic, ago

Using Your Rights as Weapons

There are only two ways for humans to deal with each other- voluntary interaction or coercion. In a voluntary interaction, both people are free to choose whether or not they will do things with or for each other.

In a coercive interaction, one party chooses to use force (or the threat of it) to control the other. A great example of the two follows:

A man asks if I mind that he smokes a cigar while sitting next to me in the restaurant. I am free to say yes, or to say no.

Or he can do this:

There are those who would see the actions of the steak diner as being the coercive one, but that is not correct in my opinion. By lighting the cigar and smoking it in a restaurant, he is forcing everyone around him to smell his smoke. His actions are affecting others whether they like it or not. The only response to this is to respond with force of your own. The steak eating man asked nicely, but the smoker felt that he would be protected by society’s rules, and used them as a weapon to force others into smelling his cigar.

Now apply that to those who stand in the road as a form of protest. They have taken their right to protest and turned it into a form of coercion: society is being forced to bend to the protesters’ will, or the protesters are not going to allow anyone to get where they need to go.

People are using the rules of a polite society as weapons to be wielded against the very society which protects them and their right to protest.

There are those on the right who would do the same. Carrying an AR-15 into Starbucks, simply because it is legal to do so is a similar tactic.* Don’t be an asshole, and don’t lecture me about how it’s your right.

It’s possible to have the RIGHT to do something and still be an asshole.

Just food for thought…

.

*You carry a handgun because you might be in a gunfight. If you WILL be in a gunfight, bring a long gun. Also remember that the best way to survive a gunfight is not to be in a gunfight in the first place. If your local Starbucks is that dangerous, perhaps you could get coffee elsewhere. There is a difference between being armed and being provocative.

By Divemedic, ago

Experts

Is there any field in which leftist liberals don’t consider themselves to be experts?

Shutting down Venezuela’s air defenses are well within the capabilities of the F/A-18G Growler (there were 2 squadrons of them in the theater) and the F-35. Any air defense system that was turned on would have been jammed or destroyed. Likewise, communications would have been shut down by those same systems, as well as by cyber warfare, and no orders to fire on anyone could have been issued.

But tell us how Trump can only be successful by throwing money around.

It doesn’t matter how he won, Trump won. Cry like the little bitches you are, but this was a successful operation, and nitpicking every little thing about it just makes you look weak and whiny.

By Divemedic, ago