Dan Martell - Why the average consumer debt is the highest it's ever been

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00:00:00.000 The average consumer debt is the highest it's ever been

00:00:02.320 and continues to climb

00:00:03.180 is because they extend credit to folks that shouldn't get it

00:00:05.940 to keep them oppressed.

00:00:07.200 They'll never be able to come out of it

00:00:08.840 because they've got this mountain of debt.

00:00:11.100 That's why in the US,

00:00:12.120 you can't write off your student loan debt.

00:00:13.960 That's crazy.

00:00:15.100 When we should have an education system

00:00:16.900 where we pay people to become better

00:00:18.720 so it increases the overall country's gross domestic product.

00:00:21.640 Instead, we approve everybody

00:00:23.620 issuing consumer debt left, right, and center.

00:00:25.860 Whatever you want, let's finance it down for 40 years.

00:00:28.620 monthly payments is 17 bucks. And if you miss a payment, boom, transitions into 32% APR,

00:00:35.420 whatever stupid number is, most of it is predatory lending.

Dan Martell - July 02, 2024