Apr 22, 2019 - 5 min
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Professor Scott Galloway on why these payment schemes are a severe economic risk. Consumer debt jumped $52 billion in March 2022, the most significant increase on record and in some American states, around 90 per cent of consumer loans made in 2020 buy now pay later (BNPL) loans. Galloway reveals why BNPL mistakes of cash-strapped young people could contribute to an extended recession in the economy.