Dan Martell - July 02, 2024


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


Episode Stats


Length

38 seconds

Words per minute

203.31091

Word count

131

Sentence count

9

Harmful content

Toxicity

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Consumer debt is the highest it's ever been and continues to climb. The reason is because they extend credit to folks that shouldn't get it to keep them oppressed. They'll never be able to come out of it because they have a mountain of debt. That's why in the US you can't write off your student loan debt.

Transcript

Transcript generated with Whisper (turbo).
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
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. 0.99