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. Welcome to the incarcerations of the credit card payment systems Gulag and the corporate state’s drive to stop consumers from paying with cash.
So long as you have a credit card and a credit score, you’re in a world of easy credit (no down payments, etc.), and high interest rates, especially on unpaid monthly balances. All it takes is swiping your card and pushing buttons at retail establishments or online to make a purchase.
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.
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.
Try renting a car or getting home insurance without a credit card and credit history. Try using FedEx or UPS without a credit card. More retail outlets are experimenting with
— source nader.org | Ralph Nader | Sep 1, 2022