Australians were said to be the most indebted individuals in the world. Now they are even being sold debt to resolve their debt problems. Its a type of gambling guaranteeing there is no winner but floods cash to fewer and fewer persons. Capitalism continues to adapt.
Predatory lending is an easily overlooked business that has damaged communities of color and poorer people for decades. It traps borrowers in never-ending cycles of debt with high-interest loans on coercive terms. But when Wall Street private equity gets in on the predatory lending industry, it amplifies the magnitude of financial exploitation.
Source: How Private Equity Amplifies the Abuse of Predatory Lending – CounterPunch.org
Tony Abbott as an 18 year old uni student destroyed public property and was let off with a tap on the wrist. He was accused of violence and molestation the accuser found she was the victim for raising the issue on both occasions. Abbott is on record abusing Julia Gillard after the death of her father and Alan Jones assisting in the worst of possible ways in the media. Her response rocked the world. Yet, nothing really happened to those two white private school boys. They simply Mona Lisa smirked at the reactions they had stirred up. It was never the same if you were black. Just ask Dr Gary Foley.
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