Why Are Workers Drowning in Credit Card Debt?
The Socialist Program with Brian Becker
The Socialist Program
4.7 • 587 Ratings
🗓️ 21 February 2024
⏱️ 27 minutes
🧾️ Download transcript
Summary
On today's episode Walter Smolarek and Prof. Richard Wolff discuss why workers have so much credit card debt while financial giant Capital One tries to buy another financial giant, Discover, for more than $35 billion.
Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can find his work at rdwolff.com.
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Transcript
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| 0:00.0 | For over $35 billion, financial giant Capital One is making a bid to take over Discover. |
| 0:08.4 | With workers slipping deeper and deeper into credit card debt, what does it mean for this industry |
| 0:13.9 | to be even more profoundly dominated by a handful of monopoly corporations? |
| 0:19.7 | We need a new system. We need a new system. |
| 0:21.9 | We need a new society. |
| 0:23.8 | We need to demand that which may have sounded impossible |
| 0:26.6 | even a few weeks ago, |
| 0:28.0 | but is not only realizable, |
| 0:30.8 | but an imperative necessity. |
| 0:59.3 | We need to... We are very excited to have Professor Richard Wolfe join us for a regular weekly segment where we discuss the biggest stories relating to the economy, the state of the working |
| 1:03.3 | class, and the crimes of big business. |
| 1:05.8 | I'm Walter Smallerick, filling in for Brian Becker. |
| 1:08.4 | The Socialist Program brings new content several days a week thanks to the support of our patrons |
| 1:13.1 | at patreon.com slash The Socialist Program. |
| 1:16.5 | We appreciate all of your support and encourage you to become a patron today if you enjoy |
| 1:21.0 | listening to the show. |
| 1:22.8 | Richard Wolfe is the co-founder of the organization Democracy at Work and the author of many books. |
| 1:28.1 | The latest being, The Sickness is the System, when Capitalism Fails to Save Us from Pandemics or itself. |
| 1:34.6 | You can check out all of his work at R.D.Wolf.com. |
| 1:40.1 | So, Professor Wolfe, we have another giant corporation purchasing, another giant corporation |
| 1:46.1 | Capital One buying Discover. |
| 1:49.0 | This, I think, points to a number of important trends under capitalism, a number of important |
... |
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