In Debt We Trust

Last night I watched most of a documentary newly released on DVD called "In Debt We Trust" which examines the credit card industry and the consumerist culture it encourages, leading to crushing debt for millions of Americans. While interesting, I found the documentary heavy-handed and a bit overbearing. Felt more like a 20/20 episode rather than a documentary. It places the blame of consumer debt squarely on the shoulders of the credit card industry but rarely mentions consumer responsiblity to stop spending. Also, the film draws a comparison between buying a house/real estate and modern day serfdom because the mortgage turns us into slaves to credit for 30 years. Ouch!

With things not going so well for them lately on other fronts, Republican politicos have taken to emphasizing a hale U.S. economy -- though that is something few Americans feel in their own pocketbooks. Some reasons for those clashing perceptions are explored in vet documentarian Danny Schechter's "In Debt We Trust," which portrays a nation hobbled and preyed upon by credit card companies and other lenders. When this borrowed-money bubble bursts, he suggests, another Great Depression could arrive.