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Joseph Carlson @joecarlsonshow - The amount of complete ignorance circulating around Visa and Mastercard, still to this day, shows why there can still be alpha in some of the largest companies in the world.
Here’s a few facts:
1. Credit Cards do not charge interest. Banks charge interest. Credit Card companies are tech companies that facilitate transactions and prevent fraud.
2. The huge majority of the fee you pay when you swipe a card is earned by the bank, not the credit card company.
For example, on a 3% swipe fee, the bank will earn 2%, the payment processor (stripe or square) will earn .5% and the credit card company earns a tiny 0.15%. So on a typical $100 purchase only 15 cents goes to the credit card companies. The lion’s share goes to banks and payment processors.
3. Credit Card companies are extremely good for the economy and commerce. There is a deficit of trust between consumers and merchants. Merchants want to know the consumer is good for their money, consumers want to know they will get what they pay for. Visa and Mastercard bridge that deficit of trust by ensuring every transaction instantly.
Merchants know they will be paid and consumers know they’re protected from scams.
These products are incredibly good for both parties, and destroying the business models would be bad for global commerce.
In terms of the “super high interest rates” banks charge. These are unsecured loans given to strangers. Are you going to give unsecured loans random strangers with poor credit history? I don’t think so, and if you do you’re going to lose a lot of money. The banks price the interest appropriately to the risk. It’s highly competitive.
https://x.com/joecarlsonshow/status/2010403154576232639

Judge Jeanine Pirro @JudgeJeanine - Video: Here’s the bottom line: enforce the law, prosecute crime, and people are safer.
https://x.com/JudgeJeanine/status/2009396681180369367

Kaelan Dorr @Kaelan47 - Wake up, honey. Vice President @JDVance is posting bangers on TikTok
https://x.com/Kaelan47/status/2009973635700928680