We've detailed the last two weeks our core solutions for these uncertain times. 2 The accumulation of past deficits and surpluses is the current national debt: Deficits add to the debt, while surpluses subtract from the debt. In Debt We Trust Video Worksheet Answers . We will likely see additional stimulus measures attempting to stop the damage over the short-term. The Emmy-winning former ABC News and CNN producer's new hard-hitting documentary investigates why so many Americans are being strangled by debt. 0000015853 00000 n More help linked here. The best part is that you can use this viewing guide for distance or digital learning! I like to pause the film after each section and discuss what we've learned. In 2 weeks the Debt per Citizen has increased by $1200. Today, in some churches, there are debt liquidation revivals in which parishioners chip in to free each other from growing credit card debts that are driving American families to bankruptcy and desperation. This site is for INFORMATIONAL PURPOSES ONLY. 0000000896 00000 n I love digging deep and teaching my students about the dangerous world of credit cards, consumer debt, and borrowing money. We know it’s hard (and maybe not what you’ve been used to), but trust us—taking on debt robs you and your family of a secure financial future. 0000001543 00000 n Research professor, consumer financial services SEM will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. 0000003590 00000 n Debt Worksheet Example. Have you taught it a few times, but feel like you're ready to take your lessons to the next level? CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. The problem is all the solutions are terrible over the short-term, which means you cannot rely on buy & hold strategies that worked well in the past when we didn't have this much debt. This week, the Treasury Department announced they would be issuing a record $3 Trillion this quarter. Just a few decades ago, owing more money than you had in … The film is scheduled for a limited-run through Thursday, April 4, and then it will be released across the country. The second half of the film focuses on the lobbying in Congress and effects of lending on minorities and the wider economy. Inspired by the book, Credit Card Nation, by Professor Robert D. Manning of Rochester Institute of Technology, In Debt We Trust makes its nationwide premiere in Rochester at 7 p.m. on Friday, March 30 at the Little Theatre—followed by a question and answer “Rough Cut” reception in the Little Café. Any opinions, news, research, analysis, prices or other information contained on this website, by SEM, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Inspired by the book, Credit Card Nation, by Professor Robert D. Manning of Rochester Institute of Technology, In Debt We Trust makes its nationwide premiere in Rochester at 7 p.m. on Friday, March 30 at the Little Theatre—followed by a question and answer “Rough Cut” reception in the Little Café. Are you getting the free resources, updates, and special offers we send out every week in our teacher newsletter? What is the debt revival and how does it work? Manning will be interviewed this week by CNN’s Paula Zahn, who is preparing an investigative, 3-part series called “Debtor Nation.” It is designed to give advisors talking points about the market and for individual investors to better understand what is happening. What does Schechter call the democratization of credit, Americans are kept alive by all the money we borrow, why was the American Revolution, in part, about breaking enslavement to financial debt, because the american colonists were in debt to European banks, What is Robert Manning's response to a question about whether or not students should have credit cards, that every student should get one, but if the parents won't co-sign and they don't have an independent income it should be capped at $500, What does Manning critique about Barbie dolls, with credit cards pitchmen outside his lecture, Manning knows he's fighting an uphill battle against, 158 million cardholders worldwide hold an average of how many credit cards per person, What gives credit card corporations their power over us, our negligence, indifference and ignorance, When the film says that credit card companies determine your credit score by using a "proprietary formula" what is meant by proprietary, According to Hofstra University Law Professor Robert Silverman, the complicated, multiple-page agreements that come in the mail with credit cards are an example of what, Former credit card executive Steve Barnett calls the MasterCard priceless campaign brilliant, because it says credit cards do what, its a way to support your values and deepest beliefs, What percentage of our economy is based on consumption, our high rates of consumption lead to what "petrifying paradox", if we cut back, then the US economy will collapse, what is each Americans share of the national debt, How much does our debt increase every day, Tamara Draut, of Demos Think Tank, says that debt us a symptom of what larger economic and structural issues, According to financial historian Michael Hudson, the new economic conflict in our society is not between classes, or employers and employees, but between whom, Credit and debt are transforming our industrial economy into an economy based on what, why is it dangerous that property has become to be seen as the only way to build wealth, because the gap between haves and have nots is deepening, What phenomenon explains why far fewer Americans now pay off their mortgages than in the past, Why does bankruptcy attorney Charles Juntikka call banks evil, Because banks are making 54% net profit off of the poor, What did the bankruptcy reform law signed by Bush do, Makes it harder to erase debt by declaring personal bankruptcy, How did the bankruptcy reform law signed by Bush just weeks before Hurricane Katrina affect victims of the disaster, it specifically ruled out floods as grounds for bankruptcy, Who are the two largest contributors to political campaigns in america, financial institutions and large real estate developers, What is the leading profit engine of the banking industry, What sort of financial institution are you more likely to find in poor neighborhoods than traditional banks, check cashing stores and tax rebate joints, what does the rent-to-own phenomenon involve, interests rates make it cost more to rent, Over the past 20 years, what have banks discovered about poor people when it comes to debt, "the poor are honest" the poorer you are the more likely you're going to repay your debt, What have the banks that issued homeowners their original mortgages been doing with these mortgages over the past few years, they're selling the mortgages into a secondary market, what did the New York Daily News report about the finances of troops coming back from Iraq, more than 100,000 US troops are saddled with long-term debt, why does the film say in the end, that we are now in "terra incognito", because we never before experienced this level of debt in our country.