WOW.... Great video.... I mean great.

I dont have any credit cards, but a Mountain of 250,000.00USD in Medical Bills, that in no way shape of form is going to be payed.... Simply becuz if I had that money I would be providing a better life for my family instead of a New Chopper or indoor heated Pool for some Yak.....

its a sad state of affairs when the very people who helped create the means an resources upon which our country was founded an striving upon have been raped of any financial freedom they may have...

Wonder when this cheaply constructed erectors set is gonna rust out completely an crash an burn.

its not just credit cards thoe, its medical bills, those payday loans, check cashing centers, home and car loans, even down to paying taxes...

watch the rest of the video, it explains alot, in american students owe alot becuz college isnt free nor anywhere close to cheap,

20,000 dollars is the average college persons debt they said....


its not just knowledge, its how the system is run, no one can beat the house if the game is rig to begin with.

One thing I find disconcerting about the documentary is that it doesn't show how people live without a credit-card. Those who are in my situation or worse (being below middle-class) especially with the poor job situation where I live... This society is so mixed up everyone is on a different page, with different goals but similar aspirations when it comes down to it; getting the experience we came for is seemingly out of the question anywhere on this planet, were we born to live like this? did thousands of years of our progress come to this? sure there is sooo much to be amazed with, but some of us who have found a way into everyones life through credits/laws/taxes have crippled a marvelous evolution of mankind.

[edit on 3/21/2008 by PuRe EnErGy]

This documentary was very informative. Thanks ATS for making it available.

This video should be mandatory for all high school students.

Most people didn't realize the trouble they were in before it was to late. The only way out of this mess is to educate young people of this.

You know, they took cigarette ads off TV, because it was promoting harmful behavior to young people. Fat chance of getting ride of the Visa commercials.

The bubble will burst, it has to.

Oh dear......do any of you yanks ever consider the irony of being bankrupt ? Of the fact China is paying for your debt ?

I look forward to the day when America joins the reality of being part of the world community, it must be so wierd to think of your selves as so exclusive, perhaps this is why you are so religious, you are so lonely ?!

What an amazing video!

Daniel Estulin was in Portland recently and I heard from a friend who attended his lecture that he saw the US becoming more and more like a feudal society. He foresees US citizens as becoming more and more dependent on big companies or the government, etc and his main bit of advice was to get out of debt now any way you can. I have to admit that I was puzzled. His message was totally cataclysmic and I wondered how it could be that debt would be the greatest threat to survival, but after watching In Debt We Trust, I think I understand.

People will continue to use and abuse these cards until the credit companies own more than the feds and the oil corps.

Capitalism run amok... what will it take for us to learn??

Thanks ATS for the infos, keep them coming.

Very interesting video, I will have to check this out next.
Thanks for the info and link.

Excellent video. Well rounded, talking about these issues from different points.

I point that I woould like to reiterate, which was made in the video, is that education is not a solution to these problems.

I had many credit cards for several years, and always used them responsibly, if at all. But all it takes is a bump in the road to start the viscious cycle. Even a few weeks out of work is enough to throw someone's financial world into an irrecoverable spin.

My spin started when the rent went up by 25% with one month's notice. My apartment also happened to be the cheapest available locally, and I had dodged previous increases by staying in the same place for so long. Even with the increase, I was still paying less than the other tenants in the building. Then winter came. I had to buy my own oil to heat the apartment. We all know what the price of oil has done in recent years. Then I was forced to take a job further from home and for less pay. You see where this is all going. Straight into bankruptcy. I am now homeless, and saw it all coming.

On the video:

I do have to agree with some. If you do not have the money to spend, why would you think that using a credit card would be okay? I understand that some use the cards because they have no other money, but at that point it's time to ask for help. There are agencies set up for that.

But I built the computer I'm typing on right now. I bought all the parts cash. I have no credit card because I know if I can't afford it now, I won't be able to afford it later. Perhaps when I have more free cash in the future I will get a credit card to raise my credit score, but that's it!

The advertising must not work on me. I see one of their commercials and it doesn't even strike me that they are talking to me. I don't fit in with that crowd of people.

*Edited to add:

Awesome video. Very imformative. Thanks for giving me the option to view it ATS.

[edit on 8-4-2008 by Sublime620]

Originally posted by Yarcofin
I've only watched the first video so far, but to me it looks like everyone so far has gotten themselves into the trouble. Ignorance is no excuse.

I'm a college student. I have a credit card. But I don't have any debt. In fact I have enough savings (currently invested in the stock market) to easily make a 15-30% down payment on my first mortgage once I get a full-time job. Maybe it's a cultural difference between Canadians and Americans, or maybe I'm a very small minority.

In fact, my Mastercard actually earned me money last year. $0 in monthly/annual fees plus $6 cash back on my purchases puts me ahead. I guess I'm what the credit card industry would consider a "deadbeat."

Well, that's how they start you off at first, in small bite size pieces and not long before you realize it, you are hooked to the taste, that's when these graveyard diggers start tightening the noose around your neck, till you give them back their credit-card, paid in full.....with interest.

growing consumption debt has been what the financial interests have focused on for a while.

Like the first post states, alot of company's and lobbies had fought for the de-regulation which was responsible for the growing mess we are in.

The same measures enacted after the great depression (glass-seagall act) were thrown out thanks to greedy bankers and connected conglomerate or politico's throwing their muscle around. Consumption debt was pushed in criminal ways during the housing boom. Now more debt is poured out to sure up banks so they can lend again? nope

Bankers will focus their debt growth "game" on developing country's (since america is tapped out) until the world is up to their eyeballs in debt, while the standard of living for the majority lowers along the way, *fortunately their is hope for individuals to prosper* and that is what anyone's focus should be on , while staying cognicent of the fact that on average the nation is fu*KED. Capitalism is a awful fit to ensure a sustainable succesful society, however it is the least awful of all the choices.

The monetary system is rotten from the core and the financial institutions and bankers have infiltrated and compromised what little integrity some industrys and governments once actually had.