15% is outrageous, usurious. There’s a good reason why the old prophets railed agains loaning money at interest, AT ALL. That’s actually the original meaning of the term “usury” - to loan money at interest. Not “at excessive interest,” but just to charge interest AT ALL.
Because if you build a money system on debt at interest, it INEVITABLY escalates to where the financial predators own you and everything else, and the debt is unsustainable.
Look at all forms of debt in the world today - international debt, credit card debt, mortgage debt, student debt. All in the TRILLIONS of dollars. And where the eff did “student debt” come from? That was not a massive debt, just a few decades ago. It was ENGINEERED, just like actually ALL that debt is engineered. There is no ACTUAL need for interest. We could run a financial system perfectly well, far better in fact, without interest, which INEVITABLY promotes all kinds of negative social outcomes. BUT, the predatory class REQUIRES us to be indebted, the better to suck us dry and “endlessly” concentrate power and wealth in narrower and narrower hands.
Except it is never endless, and it inevitably ends badly, one way or another. And there is massive “collateral damage” throughout the operation of the debt-at-interest financial system. A major cause of suicide is unpayable debt, think about that. It’s not a “personal problem” it is social engineering.
And then the worst of the narcissistic predators jeer at “the losers,” and rile up the rest of us to feel superior and demonize “others” while the ENGINEERED PREDATION steamrolls on.
We need - and this is not just “It would be great if” but we NEED - to recognize the debt trap, and seriously institute a different system of finance and economics, to stop enabling and sponsoring predatory narcissistic greed and the endless propaganda that is churned out in support of it.
The narcissistic predatory extractive colonizing corporate economy is not just “bad for some people” but at this point it is literally destroying the very basis of the ecology of which humanity is a part. We NEED a different system, and we need to think that, and talk about how to do it, and make it happen.