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Up to Our Eyeballs: How Shady Lenders and Failed Economic Policies Are Drowning Americans in Debt
Hardcover
Investing & FinancePersonal Finance
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ISBN13: 9781595582119
Publisher: New Press
Published: Mar 30 2008
Pages: 223
Weight: 0.74
Height: 0.84 Width: 5.58 Depth: 7.78
Language: English
At a time when Americans owe close to $800 billion in credit card debt, the myth is that credit cards are primarily financing America's luxury lifestyles--helping white suburban families pay the costs attached to extravagant homes, luxury cars, and golf club memberships--or helping those who aspire to these lifestyles. Up to Our Eyeballs reveals the disturbing reality that credit cards are in fact the new safety net, being used by desperate middle- and low-income families to manage essential expenses.
In the increasingly volatile American economy, where a decline in work-related benefits like health insurance and pensions has accompanied a rising cost of living and increased job instability, consumer debt has become a fact of life for many American families. Up to Our Eyeballs is a troubling examination of the causes and consequences of this explosive rise in consumer debt.
Including a critical look at how the financial industry became the aggressive, hyper-profitable industry it is today, this book also incorporates solutions that will be of real relief to struggling households.
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