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Buy Now Pay Later - The New Debt Dilemma
This week, Dana and Anthony look at the new backbone of the American economy: splitting a $12 carton of eggs into four "interest-free" payments.
Buy Now, Pay Later started as a way for college kids to buy sneakers they couldn't afford yet. It's now a full-blown shadow debt system, and nobody in Washington is tracking it. Nearly 30% of users are financing groceries. Almost half are missing payments. And the tech giants are already pitching "lease your phone forever" plans like that's a normal way to live.
Dana and Anthony go through what happens to an economy where people take out multi-month…
The skinny
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