Unprecedented Surge in US Consumer Credit Card Debt

Terrific program. The US emerged from WWII as the world’s dominant economic/military power. Over the last 5 decades, this position has been steadily eroded by the adoption of neoliberal economic policies- multiple tax cuts for the wealthy, financial deregulation, a declining manufacturing base and job-outsourcing to Mexico, China, and other low-wage platforms, privatization of public assets and spending astronomical amounts of taxpayer money on military debacles in Afghanistan, Iraq, Libya, Syria, Yemen and most recently Ukraine. At the same time, the Russia-China-Iran coalition has achieved military/economic parity with the West. We are seeing the accelerating decline of late-stage American capitalism,… Read more »