Why The American Credit System Is So Terrible
Added 2021-11-17 21:39:43 +0000 UTCHowdy, friends! This week we're talking about something that usually flies under the radar - credit. The American credit system is quite possibly the most predatory and discriminatory in the world, and that's by design. Come learn about the reasoning behind our modern credit system, and the usual culprits behind it.
Comments
I don't want to sound too negative, but any system run by imperfect human beings is going to require much refinement. Socialism can be prone to corruption, but the boom and bust cycle of capitalism is worse. I think the kind of debt that scares me the most is the consumer debt. So many people are living on the margin, buying things they don't need - giant, plasma tv's, gas guzzling suv's, and houses that are too expensive for their incomes. The government bailed us out the last time we got more debt than we could support. The next time we might have to ask the Chinese to help us out.
2021-11-22 00:22:27 +0000 UTCAppropriately, I'm just finished with The Dawn of Everything and so I'm starting yet another run through Debt: The First 5000 Years.
Ian Price
2021-11-17 23:11:34 +0000 UTC
