Can you tell we don’t like payday lenders? Doesn’t look like we dwell in a splendid isolation on that, either.
How payday lenders trap borrowers in cycle of debt
image: Albrecht Bongartz via Flickr/CC
Within the vast net of financial scams and debt-based swindles that compose much of the source code underlying modern American life is an education-related indenture of $1.3 trillion. This generational thrashing is the stuff of revolutions, surely. Is there not a single history degree out there in the hands of the direly mortgaged young Americans? Education was supposed to be one of the things motorizing the new economy.
Stop paying your student loans and debt collectors can send US Marshalls to arrest you
Debt, poverty’s nasty sibling, is the topic of an ongoing series in US magazine ProPublica. In part four, linked below, the effect of debt and debt collection on African Americans is examined. A particular suburban field-of-dreams is mentioned.
Shadow banking is this disquieting thing we’ve been hearing about for two years or so. Huffingtonpost.ca has begun a four-part series into Canadian debt called Borrower beware: inside Canada’s new Wild West of banking.
Indentured working people on the express elevator to nowhere enjoy longer, healthier lives and sleep soundly at night: said no study, ever. Including all 33 studies systematically studied at this linked text right here.
image: Pedro Vezini via Flickr/CC
A credit counsellor with much experience of people carrying the financial equivalent of a knapsack full of rocks reflects over her grilled salmon lunch in this Globe & Mail piece.
Laurie Campbell: Credit Canada CEO shatters debt myths
image: Dan Simpson via Flickr/CC
Let’s start our New Year with some humour sent in by a loyal Left Coast reader of suburban-poverty.com: Free Market Fun Sack!