In Debt We Trust
May 5th, 2007 by KibitzerIf you have little or no debt and pay off your credit cards in full each month, don’t bother with this film. For everyone else, this film may prove an eye-opener. Though it suffers from “over-the-top” sensationalism in the style of Michael Moore, the basic information is sound.
You’ll learn how various loan instruments such as sub-prime loans, title loans, payday loans, tax refund advances, and rent-to-own, banks and finance companies are able to charge interest rates that you would think would be illegal. Conspiracy theorists will enjoy this as well (not to suggest that there isn’t a conspiracy).
I wish I could tell you that this will help you get out of debt if you are in debt. But it’s a great film for those who aren’t in serious trouble. And for those just starting to get credit (especially college students and recent grads who may be ignorant about credit), this film can save you a lot of grief.
In Debt We Trust: Highly recommended.
May 6th, 2007 at 11:45 pm
Not to mention how the US government is itself in debt. Hard to chastise the American workers using credit like crazy to drive our economy, when the government isn’t really setting a good example.
December 20th, 2007 at 5:56 pm
Thank you for your thoughtful words about this film. I wonder if you have you written about the student loan situation? A friend is intensely interested in learning more and esp in spreading the word about out indentured young people. He thinks we should provide free schooling through the master’s degree.