Microloan Apps May Be Poised to Destroy the Economy

Microloan Apps May Be Poised to Destroy the Economy

We love microlending, don’t we, folks? Unlike old-school credit cards, with their days-long approval processes and prior credit minimums, buy-now, pay-later (BNPL) apps — companies like Klarna and Afterpay — offer hard-up customers instant financing options to buy the junk they crave the instant they see it. In the United States, purchases made with these…

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