In Debt We Trust
Bob Morris @ Jan 28th 2007 00:23 - Category: Unfiled
From Danny Schechter, producer/director of “WMD: Weapons of Mass Deception” and author of ” author of “Embedded: Weapons of Mass Deception: How the Media Failed to Cover the Iraq War”, comes his new movie “In Debt We Trust. America Before the Bubble Bursts.”
It is a journalistic confrontation with what former Reagan advisor Kevin Phillips calls “Financialization”–the “powerful emergence of a debt-and-credit industrial complex.”
While many Americans may be “maxing out” on credit cards, there is a deeper story: power is shifting into fewer hands…..with frightening consequences.
The poor get gouged and swindled while a tiny few get wealthier. But it’s a bubble and it won’t last. Foreclosure rates are rising in California. Interest rates on credit cards rise with lots of extra fees. Those who get caught in the credit trap generally are hard working with jobs, the problem is a system stacked against them where increasingly they can’t make enough to live. Then the credit vultures swoop in. But now, even some of the vultures are dying.
Trailer and movie info
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