'For over a decade the screws have been tightening to coerce people into the credit-debt economy,' writes Ralph Nader. 'Both the corporations and the government are to blame.'
"For over a decade the screws have been tightening to coerce people into the credit-debt economy. Both the corporations and the government are to blame."The most perceptive ancient historians and philosophers could not have foreseen a time when a certain type of mass convenience and abundance becomes a threat to democracy, justice and dispersed power.
If you are in the lower 20% of the income scale, unbanked and outside the Gulag, consumer protections are really weak. Rip-off practices such as pay-day loan rackets and check cashing gouges proliferate. “Cash” is defined for this article as paper money, checks and money orders. Many state laws define cash as only paper money.
Ms. Bello is speaking for tens of millions of poorer Americans who are being denied, excluded, penalized and harassed simply because they want to use paper cash which is “legal tender.” Isn’t that what 31 U.S.C.
A new Gallup Poll reports that 64% of respondents say it is “likely the U.S. will be cashless in their lifetime!” Other countries are moving to cashless faster – some for authoritarian motivations. Just try being a tourist in Europe without a credit card. The poll registers a sharp partisan difference: “Republicans are most resistant to a shift to a cashless economy, with 60% saying they would not like it. Independents register 45% and Democrats register 28% taking that rejectionist position.
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