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    • Maxed Out

      1 Star2 Stars3 Stars4 Stars5 Stars (6 votes, average: 4.33 out of 5)
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      “Maxed Out” is an independent documentary presentation depicting the abuses and exploitation of the credit card industry, particularly during the time of social unrest in America.

      America, which used to be known as one of the world’s wealthiest, was on the brink of an economic collapse. As the world economy was also failing, the government continued to rise in debt. The effects of this were felt even more after the devastation by Hurricane Katrina. When all this happened, America was forced to reasses its reality.

      How were people owing more money while working three times as hard? The answer, it seems, lied in a little plastic convenience called the credit card.

      Credit Card companies gave birth to modern financial institutions that used to be of big help to consumers. But as people spent more and more using their credit cards, it seems as though they are digging themselves deeper in debt.

      “Maxed Out” explores into the effects of relying on credit card for spendings, and outlines the ways companies sucks you into using these more. It also shows a detailed view of the debt collection industry and the ways the government is correcting this.

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      Published on October 27, 2009 · Filed under: Business, Economy

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    • Marlow

      Great documentary! I can't help but find some uncanny similarities to substantiate Peter Joseph's insight regarding the Monetary System.
      Thank you for posting this.

    • Jack Kebek

      I already said here that I learned about the "money system" in Economics classes. I will admit that it can seem illogical and outright crazy to many, but that's just the way it works!

      The only "insight" Peter Joseph has, in my personal view, is to make it look like a an absurdity, and make his "disciples" believe it is.

      Ok, the "money system" seems it needs some tuning… by the means of regulations, or else, it's just like the jungle ; you know, that's the place with NO regulation, except this one : "run for your life or get eaten".

      And I also agree, there's way too much "credit" (debt)in our system, many Economists are saying just that and are trying to warn us of it's dangers.

    • Edwin Guzman

      I like documentaries, this one may be one of the best i have ever seen…

      I only wish people were more educated on this

    • mu

      Um, Jack Kebek, "just the way it works" and "absurd" aren't mutually exclusive, not even close. More often than not, saying "just the way it works" implies an absurd situation and this certainly applies to debt and currency.

    • Jack Kebek

      It does not seem "absurd" to Economists…

      The way it works refers to having sufficient knowledge on a topic, while one doesn't need any education to say "anything" is absurd.

      Everything is relative to the Observer : I could say "The whole Universe is an absurdity", but I prefer trying to understand how it works. To me, it seems much less absurd that way, and so does Economics.

      Peace

    • Tyler

      Everyone should watch this. We need to divorce ourselves from the debt system!

    • Taylor

      i hate this video!! it is so annoying! i have to watch this for jcc english. but it is very informational though. made me see many sides to the situation