Best business in a recession

It is also illegal in many states, and should be regulated more.

United States

Regulation of lending institutions is handled primarily by individual states, and this growing industry exists atop an active and shifting legal landscape. Lenders lobby to enable payday lending practices, while opponents of the industry lobby to prohibit the high cost loans in the name of consumer protection.[16]

Payday lending is legal and regulated in 37 states. In 15 states it is either illegal or not feasible, given state law.[17][dead link] When not explicitly banned, laws that prohibit payday lending are usually in the form of usury limits: hard interest rate caps calculated strictly by APR.

The current list of states that have made PayDay loans illegal are as follows:
Arkansas
Connecticut
Georgia
Maine
Maryland
Massachusetts
New Hampshire
New Jersey
New York
North Carolina
Ohio
Oregon
Pennsylvania
Vermont
West Virginia [1]
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Years ago we had lay a way. This helped people pay in full before the upside down world of buy now pay later. Secondly, we could float a check (post date, gaming clearing times) usually with few consequences. Indivudally owned mom and pop stores would extend credit. Collectively these "carry me over till payday" resources are gone.

Ya know if you have a sick kid and need cough syrup @ 10-15$ a pop and a pack of cigarettes (another $10) we're up to $25 and you're talking 10% of some unskilled working stiffs check.
 
The best businesses to own in a recession have always been the cemetery and funeral business.
I wonder if even they have been affected by this nasty downturn in the US economy ?
 
Quote from Retief:

Well, they can do without the smokes, which probably are not helping the sick kid's cough.
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lol. Well said, meanwhile we'll get him enrolled college, some chantex and he'll be on his way to a higher paying job and the payday loans will be history.
 
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