austin_tycho | (no subject)

Here is an article that discusses a lot of what's wrong with this country in my opinion. Yes, part of the problem is Americans who can't wait to get the things they can't afford. But it's worse than that, and especially for poor people. Choice quotes:

"These companies push credit on people. Who recruits on a high school campus? The military, drug dealers, and credit card companies. That should tell you something."

"[...] God forbid that all those higher charges lead you to bounce a check. You’ll probably get hit with a $25 fee from the person you wrote the check to and another $25 from your bank — or maybe $33, if you bank at Wal-Mart. When the Weekly called more than a dozen banks around Texas, none provided an explanation as to what costs such fees were needed to cover. Simply put, the fees are a profit center for the banks, and they can set whatever overdraft rates they want. Banks that cater to a poorer clientele generate more income than larger banks that make their money on legitimate loans."

"One indicator of how many people are falling into the “poor” category, at least temporarily, is the fast-growing number of calls for assistance to the United Way. Between 2002 and 2004, for instance, the number of calls to the Tarrant County agency just for help with utility bills more than doubled. Housing assistance calls rose 51 percent over the same two-year period. [...] “A lot of our calls come from people who have underlying problems, like alcohol or drug abuse or domestic violence issues. But an awful lot are regular people who suddenly find themselves in the situation of being in over their heads. It might be divorce, work, or health issues, but something has changed and they’re not able to make it any longer without help.”"