[][][]
 |
| Via Annie |
In These Times - “I am the king of debt, I do love debt,” Trump told CNBC in 2016. “I love debt, I love playing with it.”
Billionaires like Trump don’t face critique and stigma for their debt the way the rest of us do, even when, in this President-elect’s case, the debt is a staggering $346 to $455 million. Trump and the wealthy elites, unlike most debtors, are also often able to play games with their debt to leverage even more wealth — and then the debts are somehow used as evidence (like Trump’s previous bankruptcies) that they are shrewd businesspeople. It often works, so that when Trump says things like “You’re talking about something that’s very, very fragile, and it has to be handled very, very carefully,” it can sound like sage wisdom despite being shallow nonsense.
Meanwhile, more than 75% of U.S. households owe banks and creditors an average of more than $100,000 in debt, a total that has risen to around $18 trillion. Most of those households owe multiple kinds of debt — from medical bills to student loans to credit card debt — and don’t have enough savings to cover a $400 emergency expense.
No comments:
Post a Comment