this is principally why banking exists at all, farmers needed to borrow against a harvest that hadn't yet been planted.

I'd suggest some controls or limits to it, but the lenders assume the risk ( except for all the times the public has had to bail them out) and they're grown up corporations who can decide for themselves.

I should add, that the money they borrow does get taxed when it is spent on the indulgences you make reference to.