Download Creditocracy: And the Case for Debt Refusal AudioBook Free
It seems like pretty much every person - homeowners, students, those who find themselves sick and without medical health insurance, and, of course, credit-based card holders - is up with their neck in debt that can never be repaid. 77% of US households are very seriously indebted and one in seven People in the usa has been pursued by collectors. The major banking institutions are bigger and much more profitable than before the 2008 crash, and legislators are but powerless to bring them to heel. Within this forceful, eye-opening review, Andrew Ross contends that people are in the cruel hold of the creditocracy - where the finance industry commandeers our elected government authorities and where the citizenry have to take out loans to meet their basic needs. The implications of mass indebtedness for any democracy are serious, and history implies that every time a creditor category becomes as powerful as Wall Street, the effect has been debt bondage for the bulk of the population. Pursuing in the early tradition of the jubilee, activists have had some success in repudiating the bills of developing countries. The time is ripe, Ross argues, for a debtors' motion to utilize the same kinds of moral and legal quarrels to bring comfort to household debtors in the North. After examining the varieties of lending that have added to the turmoil, Ross suggests means of lifting the responsibility of illegitimate bills from our backs. Just as important, Creditocracy describes the kind of alternative economy we have to replace a predatory debt-money system that only benefits the main one percent.
