A relatively new financial product, buy now pay later loans, is deepening the misery of already over-extended Americans, especially Gen Z
Read more...Remarkable detail of how a gift card scammer successfully worked a mark, even with a bank and police trying to intervene.
Read more...They’re the Big Spenders, they can move the needle. Millennials and Gen Z-ers are now the drivers of this growth.
Read more...Michael Hudson explains how Rome rejected debt forgiveness and nstituted a pro-creditor legal system, which our establishment defends today.
Read more...What’s different this time: Stuff blows up because of leverage and cascades through the crypto space because everything’s interconnected.
Read more...Why is a modest public bank plan for New York going nowhere?
Read more...Russia is scrambling to deal with being shut off Visa and Mastercard.
Read more...While increasing interest rates to combat this inflation is bone-headed, the Fed has long wanted to be out of super low rate terrain.
Read more...Corporate debt levels are up due to Covid. Some will businesses will not make it. Restructuring sooner is better for everyone than later.
Read more...NYC sides with those who want to use cash and enforces its cashless business ban, hitting ice cream shop Van Leeuwen with $12000 in fines.
Read more...Physical cash should still have an important — albeit diminished — role to play in the economy of the future.
Read more...Steve Keen and Micheal Hudson provide a deep dive on a debt jubilee, and how it could be implemented in a Covid-afflicted economy.
Read more...Abolitionist Lewis Tappan, the inventor of credit bureaus, would be distressed to see how his creation is being put to use.
Read more...Households and businesses are overloaded with debt. Richard Vague offers a set of proposals for how to restructure it.
Read more...WSJ says banks can no longer determine who is credit-worthy using existing models – more COVID-19 fallout, this of uncertain magnitude.
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