Economic Cold War

New Economic Cold War - America versus China > .

Bank-free payments

U.S. Banks Are Terrified of Chinese Payment Apps > .

If mobile payment apps became as popular in the U.S. as they are in China, banks would lose a projected $43 billion in revenue annually. Bloomberg QuickTake explains how cheap and easy payments by phone are threatening one of the banking industry's most profitable businesses.

In a nation that celebrates greed ...

According to the Federal Reserve, 40 percent of U.S. adults don’t have enough cash to meet a $400 emergency expense; a much larger number of Americans would be severely strained by the kinds of costs that routinely arise when, say, illness strikes, even for those who have health insurance.

So if you have an income high enough that you can easily afford health care and good housing, have plenty of liquid assets and find it hard to imagine ever needing food stamps, you’re part of a privileged minority.
https://www.nytimes.com/2019/04/18/opinion/bernie-sanders-tax.html .