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The Debt Economy Is Eating Everyone Alive (jacobin.com)

submitted 3 months ago* (last edited 3 months ago) by Pro@programming.dev to c/usa@midwest.social

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For people locked out of homeownership, “Buy Now, Pay Later” has become a way to finance basic expenses — with future income that may not actually materialize. The Trump administration, meanwhile, is busy protecting the lenders.

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[–] scathliath@lemmy.dbzer0.com 1 points 3 months ago

We can however blame the lenders for continuing the dumbass practice of Collateralized Debt Obligation bundling after 2008 though. With these damn loans that's really playing with fire if they start carrying down onto people's mortgages as credit card debt did in '08. Which seems likely given I think the Wall street types think Trump will give them a bailout instead of being a fucking saditst to people who he perceives as having wronged him.