Inequality.org

The richest footballer at the World Cup isn't even in the same wealth stratosphere as Musk.

The Middle East war is wreaking havoc on economies around the world, forcing many developing countries to spend more on debt payments than on health care or education.

Aldo Caliari of Jubilee USA Network explains how debt crises in the Global South harm ordinary Americans:

• Workers that depend on trade-dependent businesses suffer
• Consumers pay more for goods
• Pension holders face financial instability
• Taxpayers wind up bailing out greedy private creditors

Americans have a powerful tool for tackling this issue right on our own soil. That’s because a huge share of private debt contracts happen to be issued in New York. Over the past year, a bill in that state’s legislature to crack down on predatory private creditors has gained real traction.

With support from religious, business, union, anti-poverty, and other organizations, the bill passed the New York Senate and enjoys strong support in the Assembly. Link for more about this innovative, state-based solution to a global problem in the comment.