Discover and read the best of Twitter Threads about #debtrap

Most recents (1)

The new bill by @BernieSanders and @AOC to cap credit card interest rates at 15% is one of the most ambitious financial regulation proposals in the last few years. Let’s talk about why it’s a good idea, and some of the common arguments against it and why they don’t hold water.
Average credit card debt has been steadily increasing since 2013. The burden of this debt is mostly on the working class and especially on those who are currently unemployed or underemployed.
How did this become the case? Basically starting in the 1950’s and really taking off in the 1970’s, consumer credit became way cheaper to provide and many factors developed that hedged against the risk of providing it (credit reporting, debt buying, forced arbitration, etc.).
Read 21 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!