You claim that I privilege my hypothesis, while your own hypotheses as originally stated were: 1) overdraft charges are scaring the poor away, 1a) maybe US poor are more “feckless”, 2) maybe US poor have less cash flow due to welfare being less cash-based, 3) maybe US poor prefer to use cash… and then you claim that Fed St. Louis supports you in that paragraph? Really? It mentions none of those things except insofar as one of the aspects of “negative prior experience” is overdraft charges (and by a very generous reading it could perhaps be argued that the “paycheck to paycheck” bit is somewhat similar to what you said). In fact, I went out of my way to search for “overdraft” specifically, as that was your primary hypothesis, and I found that fears of overdraft protection come up in surveys as minor factors for not having a bank account, and as fairly major factors among those who prefer prepaid cards to debit cards (which I mentioned).
In addition, I would appreciate it if in the future you would not assume that someone is being willfully dishonest unless you are absolutely certain of it. Having reread my previous post and re-skimmed the sources I cite, I do not see where I misrepresented them. Although I obviously did not write everything each of them said (and indeed I also read three or four other things I did not link at all), I believe my post is broadly in alignment with their intent.
Regardless, I find I have no interest in further discussing this topic with you, so this will be my last post.
You claim that I privilege my hypothesis, while your own hypotheses as originally stated were: 1) overdraft charges are scaring the poor away, 1a) maybe US poor are more “feckless”, 2) maybe US poor have less cash flow due to welfare being less cash-based, 3) maybe US poor prefer to use cash… and then you claim that Fed St. Louis supports you in that paragraph? Really? It mentions none of those things except insofar as one of the aspects of “negative prior experience” is overdraft charges (and by a very generous reading it could perhaps be argued that the “paycheck to paycheck” bit is somewhat similar to what you said). In fact, I went out of my way to search for “overdraft” specifically, as that was your primary hypothesis, and I found that fears of overdraft protection come up in surveys as minor factors for not having a bank account, and as fairly major factors among those who prefer prepaid cards to debit cards (which I mentioned).
In addition, I would appreciate it if in the future you would not assume that someone is being willfully dishonest unless you are absolutely certain of it. Having reread my previous post and re-skimmed the sources I cite, I do not see where I misrepresented them. Although I obviously did not write everything each of them said (and indeed I also read three or four other things I did not link at all), I believe my post is broadly in alignment with their intent.
Regardless, I find I have no interest in further discussing this topic with you, so this will be my last post.
I have never had any interest in discussing this with you. I did so merely as a courtesy for someone who seemed to have an interest.