Most working-class people have huge financial debt weighing on us, often from the things that all humans need, like medical care, education, basic living expenses, and places to live.

So why does a Wall Street Journal headline read, consumers have a debt problem, not enough of the right kind,

question mark.

We need a new system.

We need a new society.

We need to demand that which may have sounded impossible even a few weeks ago, but is not

only realizable, but an imperative necessity. The We are excited to have Professor Richard Wolfe join us again for our regular weekly segment,

where we talk about the biggest stories related to the economy, the state of the

working class, and the crimes of big business. I'm your host, Brian Becker. The Socialist Program

brings you content several days a week thanks to the support of our patrons at patreon.com

forward slash the socialist program. We appreciate all of your support and encourage you to become a patron today if you enjoy

listening to the show.

Richard Wolfe is the co-founder of the organization Democracy at Work, and he's the author

of many books, including Understanding Capitalism, which is now available at Democracy at Work.

.

Professor Wolf, welcome back.

Thank you, Brian.

Glad to be here.

Well, Professor Wolf, obviously the article from the Wall Street Journal is not written for working class families who have

big debt. It's about them, but it's not for them. The headline is consumers have a debt problem,

not enough of the right kind. Borrowers are leaning on credit cards as other sources of credit have dried up.

And, Richard, the rate for credit cards, the going rate for most people, at least for

...