Developing Countries Emulate The US, Turn Citizens Into Debt Slaves
by John Rubino via DollarCollapse.com,
ZeroHedge.com
Sep 8, 2016
One of the big advantages of being a Latin American or Asian country used to be – somewhat counter-intuitively – the lack of credit available to most citizens. The banking system in, say, Brazil or Thailand simply wasn’t “advanced” enough to offer credit card, auto, or mortgage loans on a scale sufficient to turn the locals into US-style debt slaves. But that, alas, is changing as those countries adopt their rich cousins’ worst habits.
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