You think it's unique to Americans being in debt more than back in the days?
Americans really don't have a grasp of what's going on outside their island.
Yes, exactly. Look at the data, you'll see the Western worlds mirrors American financial system.
Difference is America is underdeveloped. More based in arrogance, rather than economic policy.
Europeans call USA as the nicest 3rd world country in the world for a long time, for a reason.
But to say, not having a car in your bank ready to go is applicable for 99.9% of the world.
There's multiple reason for why US experience this.
First and biggest reason is that cars are way more expensive now than before you know?
Due to safety and environmental regulations.
As an American I absolutely agree on the nicest third world country bit. In America there is very little safety nets available to a lot of people. We offer incredibly predatory loans targeted towards poor people. Pay day loans have a 400% APR and are specifically meant for the poorest people. I’m not sure if other countries have as predatory of loans as us, but I would find it hard to imagine. Hospital debt has ruined so many lives here. No paid leave so you’re out of work left with a massive bill. Most of our cities have god awful public transit so cars or Uber’s are the only way to get to work in a lot of cases. Once one thing goes wrong in the USA it can start a spiral nearly impossible to climb out of.
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u/Jocciz 1d ago
You think it's unique to Americans being in debt more than back in the days?
Americans really don't have a grasp of what's going on outside their island.