‘This Is Your Money’: Trump Assault on CFPB Has Cost Consumers $19 Billion
The affordability crisis includes the cost of being cheated, which due to the weakening of the CFPB alone is a handsome sum.
Read more...Category Archives: Credit cards
Trump’s “Fix Affordability” 10% Credit Card Interest Rate Cap: A Gimmick, Not a Solution (and It Won’t Happen Anyhow)
It has gotten through to Trump that the state of the economy, and particularly consumer suffering from persistently high costs, aka the affordability crisis, can’t be solved by his barker’s patter about how great things are. So he’s roused himself to try to find some quick and easy wins so he can present himself as […]
Read more...Wall Street’s Deregulation Agenda Will Cost Everyday Americans Everything
Trump administration financial deregulation, eliminating services and eviscerating oversight and enforcement, sets people up for harm
Read more...Tucker Slams Predatory Buy Now, Pay Later Loans as the Economist Celebrates This New Debt Slavery Device
A relatively new financial product, buy now pay later loans, is deepening the misery of already over-extended Americans, especially Gen Z
Read more...Gift Card Scams Generate Billions for Fraudsters and Industry as Regulators Fail to Protect Consumers − How One Fell into the ‘Fear Bubble’
Remarkable detail of how a gift card scammer successfully worked a mark, even with a bank and police trying to intervene.
Read more...Amex Customers – Above-Average-Income Consumers – Are Spending like Drunken Sailors, incl. on Travel & Restaurants
They’re the Big Spenders, they can move the needle. Millennials and Gen Z-ers are now the drivers of this growth.
Read more...Debt and the Collapse of Antiquity – Michael Hudson
Michael Hudson explains how Rome rejected debt forgiveness and nstituted a pro-creditor legal system, which our establishment defends today.
Read more...Leverage & Interconnectedness Are Blowing Up Crypto & DeFi
What’s different this time: Stuff blows up because of leverage and cascades through the crypto space because everything’s interconnected.
Read more...‘Public Bank’ Bill Blocked From State Senate Vote After Industry Pushback
Why is a modest public bank plan for New York going nowhere?
Read more...Fog of Financial Sanctions: Visa and Mastercard Shutdown in Russia Whacks Consumers
Russia is scrambling to deal with being shut off Visa and Mastercard.
Read more...An Increase in Interest Rates Would Be An Act of Class Warfare
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...Halloween Is Over – Are Corporate Zombies Still Out There?
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...War on Cash: NYC Enforces its Cashless Business Ban
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...Cash in the Time of Covid: Down But Not Out
Physical cash should still have an important — albeit diminished — role to play in the economy of the future.
Read more...Is It Time for a Debt Jubilee?
Steve Keen and Micheal Hudson provide a deep dive on a debt jubilee, and how it could be implemented in a Covid-afflicted economy.
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