February 11, 2024

The Business of America is Debt

The Business of America is Debt

In the shoe department at Belk’s department store yesterday, a familiar thing: The sales guy was trying to convince us to get a Belk’s credit card, saying we would get a big discount on the shoes. We got to talking, and he mentioned that he was taking his first airplane flight ever in a couple months; he asked what flying is like. 

“A lot like a department store,” I said. “The flight attendants will be pushing hard for you to get the airline credit card, and telling you about the free miles and other benefits you’ll get.”

Sometimes it seems like a lot of big businesses are just a front for selling people into high interest debt. That would definitely include many for-profit colleges