Why Are Workers Drowning in Credit Card Debt?
The Socialist Program with Brian Becker
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Unveiling the Destructive Impact of Credit Card Debt on Working-Class Families
The chapter explores the societal repercussions of credit card debt on working-class families, shedding light on the detrimental effects on personal relationships and financial stability. It discusses the exorbitant interest rates charged by banks on consumer credit compared to corporate loans, delving into the profitability for banks and the impending economic crisis fueled by unsustainable debt levels. Additionally, it challenges the societal double standards regarding debt in capitalist societies and exposes how the credit card industry targets and traps individuals in debt for profit.
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