In Debt We Trust

Documentary: In Debt We Trust (2009).  While a large number of Americans carry a certain amount of personal debt,  very few are really aware of just how common and widespread In Debt We Trustthe debt crisis has become. This documentary takes an in-depth look at the relationship Americans have with their credit cards and discusses how shopping, and rabid consumerism, has replaced the factory as America’s dominant economic engine.  In 2006, it was estimated that the debt owed by American citizens totaled well over ten trillion dollars.  A common practice among credit card companies is to allow young and naïve customers – often college aged students – to rack up large debts, effectively forever shaping the relationship young Americans have with money and credit.  This documentary serves as a reminder – if one was necessary – that a failure by individuals to properly manage debt guarantees that they will not be in a position to prepare for financial milestones such as buying a home, paying for children’s college education, or building a retirement nest-egg.

Available for streaming at Hulu Plus.

Blogger-in-Chief here at RetirementSavvy and author of Sin City Greed, Cream City Hustle and RENDEZVOUS WITH RETIREMENT: A Guide to Getting Fiscally Fit.

2 Comments

  1. It amazes me how credit card companies prey on people, especially college kids. There should be some type of education on finances in school to prevent these kids from getting themselves in so much debt. I know it’s “business” but why should our kids be saddled with school loans AND credit card debt? Let’s start teaching them about finances when they are young so we can avoid that as much as possible.

    • No doubt that we need to improve financial literacy – starting at the elementary level IMO – in our schools.

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