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

submitted 1 month ago* (last edited 1 month 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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[–] socphoenix@midwest.social 1 points 1 month ago

0% interest is not really accurate in the laypersons sense though. They make money off of “fees” that totally aren’t interest, they’re just the equivalent to payday loan type interest if you calculated the rate. Some are within affordability if you pay quickly but skyrocket after the 90 day mark as well.