Jimmy and Americans’ Comedian Kurt Metzger discuss a video of Tucker Carlson saying that people should stop paying their credit card debt. Jimmy notes that US credit card debt has reached $1.25 trillion with interest rates as high as 30% for subprime borrowers—rates that banks charge while they borrow money from the Fed at near-zero percent—calling this “evil usury.” Carlson says the system is “designed to enslave you,” and that credit card companies have a “moral obligation not to send credit card applications to kids in college,” comparing them to drug dealers who sell a known product while banks sell nothing but debt.
Jimmy notes that Trump ran on capping credit card interest rates at 10% but never followed through, while delinquencies have hit 13.1% (90+ days past due)—the highest since 2011—signaling severe financial strain for lower-income households. He concludes that the government works for the banks, not the people, and contrasts China’s government—which executes corrupt billionaires who poison baby formula—with the US system, where the same people receive blanket pardons and billions of dollars.