It seems inevitable - but we can solve the problem with some simple changes in the economic tools we use.
If you have ever had a mortgage, bought a car, had a student loan, or other major purchase you know it can get dicey when you lose your job, get sick, or experience other problems. And what about the ideas you have which you have to pass up to ensure you can make the payments?
This is not how it was earlier in America. Then, everyone understood income could be erratic and allowed for this. We can have this kind of world again by ending our use of Rigid Installment Payments (RIPs). That is what you likely have today.
Nearly half of all Americans are between 2 - 6 months from being homeless and RIPs, which allow the bank (and the Federal Reserve) to write the loan, not only get your payments, the money you earned, real money, but they can then strip you of the equity in your home, car or other purchase.
In Seattle they audited the violations by banks against homeowners. They were horrified to discover enforcing just the fines against banks would cost the banks billions, collapsing them. Therefore, they dropped the fines letting the criminals keep their stolen money.
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