The topic is generally referred as the "Age of Majority". It has varied widely in our country/culture. Marriage at age 16 was common in the 19th century, Amish still follow that practice. During WWII, many young men had emotional maturity way beyond their biological age. During the Vietnam war, the voting age was 21. But Selective Service (the "draft") was sending 18 year-olds half way around the world to become cannon fodder. So, many facets of the Age of Majority were lowered (voting, etc). But people of all ages knew they had to take responsibility for their actions/debts. Times change. And so do people. I would be in favor of raising the age of majority to at least 25, maybe 28. Many people struggle now with growing up.
Trust is an important factor in the financial world. The US is highly indebted, but at the same time also much trusted throughout the World...
No, definitely not. Age limits and restrictions need to be determined by local community standards. The government has no business deciding things like this. If one local bar wants to have a minimum age of, say, eleven years old, while another local bar has a minimum age of 24, that's free market economics, man. Let the market decide who can drink. it's all about supply and demand. If my nine year old wants to open up a Robin Hood account and trade with his allowance, why the fuck should the government be able to say he can't do that?? And if my 14-year old daughter decides to join a club that meets in the basement of a pizza shop, and is run by a bunch of 40-something guys, what's wrong with that? Doesn't the US Constitution give us a right to freedom of association? Why should we allow the goverment to trample our constitutional rights? If there is anything creepy going on in that club, we have groups like QAnon that can deal with it, and reliable sources of information like Alex Jones at InfoWars. The goverment has no fucking business telling me how to raise my kids. This post is a parody.
Government regulators got their toehold about 180 years ago. Railroads were new. The benefits were huge. But so were the problems. Many lines only had one set of tracks, but had traffic going both directions. The head-on crashes were horrific. Problem was, everybody was using the same single time zone. That needed to change (have four time zones). That was arguably one of seeds that sprouted our sprawling and out of control government.
%% SORRY, Mr Mark B you never listened to Dave Ramey= his favorite rant is against lending or borrowing from relatives LOL. Of course as the joke goes , lend a relative money + now he avoids you=maybe worth it LOL [The main group I have seen ranting against interest[usury] also rants against capitalism + common sense. I dont mind naming that group ,but back on topic,now] Live + learn ...should have put my money to the exchangers [aka bankers[ then @ my coming I would have received my money with usury. Matthew 25; usury is not just excessive interest .