In Debt We Trust: This documentary film is directed and written by Danny Schechter, his internationally distributed and award winning WMD (Weapons of Mass Deception), an expose of the media’s role within the Iraq war. The documentary film is about 90 minutes long and released within the year 2006. The documentary film shows in America’s earliest days, there have been barn raising parties during which neighbors helped one another, build up their farms. Now, in some churches, there are debt liquidation revivals, during which parishioners chip in to free one another from growing credit card debts that are driving American families to bankruptcy and desperation.
This documentary film shows the influence of debt in routine life. From credit card advertisement, consumer dependence, the national economy to politics and law. It explains how the mall supplanted the factory, as America’s dominant economic engine and the way massive banks and master card firms obtain from Congress and drive everyone into what a former major bank economist calls modern serfdom. Americans and the government are in debt of trillions in consumer debt and also the national debt, an outsized quantity of it to massive banks and billions to Communist China.
Looking at the dilemma of this debt crisis begs the question of what’s going wrong. An enormous component is that the indisputable fact that rising prices of health care, housing, education, and consumer product hurts so many and credit and lending play a major half here. Recent bankruptcy reform initiated by President Bush. Currently, makes it tougher for persons to file bankruptcy and pass through money hardship. Powerful lobbyists in Washington are terribly influential in serving to govern fiscal policies and financial establishments are the number one contributors to political campaigns.
There is no happy ending in sight to the current widespread drawback, however there’s a growing light at the end of the tunnel. Consumer advocate teams are getting more prominent nowadays and their attempt at debt education and awareness are steadily operating, their method into mainstream society. Any form of facilitation, whatsoever is productive and necessary for everybody affected and this keeps the hope alive, that people eventually create important progress in overcoming huge dependency on borrowed cash and credit.
Filed Under: Economics
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