HG3729 .U62 I5 2007 DVD
Emmy-winning journalist Danny Schechter (ABC News, CNN) investigates America's mounting debt crisis in his latest hard-hitting expose, IN DEBT WE TRUST: America Before the Bubble Bursts. The film reveals the unknown cabal of credit card companies, lobbyists, media conglomerates and the Bush administration itself who have colluded to deregulate the lending industry - ensuring that a culture of credit dependency can flourish.
Many Americans are "maxing out" on credit cards, living beyond their means, and are unable to make the minimum monthly payments. While these Americans struggle to manage their debt, there is a much deeper story at work: power is shifting into fewer hands with frightening consequences. Schechter exposes the hidden financial and political complex that allows the lowest wage earners to indebt themselves so heavily that even house repossessions are commonplace - dubbed "21st-century serfdom" by an expert featured in the film.
Inspired by scholar Robert Manning's seminal book Credit Card Nation, this film showcases Manning's insights about the impact on young people and our society. It also suggests the kinds of practical efforts needed to empower the public with information to avoid the traps of debt and dependency. Manning is one of America's leading experts on these issues and also one of the film's key advisers.
The whole world depends on the economic stability of the United States. Yet, as its national and consumer debt escalates, our interconnected global economy is at risk. This timely film delivers an urgent warning that can't be ignored.
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