The American credit system measures how embedded someone is in the system, not their ability to pay back loans. Your credit score goes down if you pay off too many loans, whether those are credit cards, car payments or house payments, pushing people into spending more. That's a social credit system that enforces compliance foremost, not likelihood to pay off loans.
Tyty, I ended up ceding some ground and saying that mass surveillance and credit monitoring is sus in general, but at least China is transparent about it. Standards, consequences, and resources the government provides to improve it are plainly displayed and freely accessible. More importantly, the US credit system is obfuscated and is controlled by private corporations with virtually no oversight.
The American credit system measures how embedded someone is in the system, not their ability to pay back loans. Your credit score goes down if you pay off too many loans, whether those are credit cards, car payments or house payments, pushing people into spending more. That's a social credit system that enforces compliance foremost, not likelihood to pay off loans.
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It's so fucked. :amerikkka:
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Tyty, I ended up ceding some ground and saying that mass surveillance and credit monitoring is sus in general, but at least China is transparent about it. Standards, consequences, and resources the government provides to improve it are plainly displayed and freely accessible. More importantly, the US credit system is obfuscated and is controlled by private corporations with virtually no oversight.
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