Squid Game is a great tv show about hypercapitalistic, debt-powered economies like our in the America. The tv drama has rich symbolic imagery, including white billionaire “VIPs” with financially and morally bankrupt incentives. It also includes masked, police-like foot soldiers who work to keep the crimes of the creditors confidential. For too many consumers, this show about a rigged game in which debtors compete for financial freedom hits too close to home.
American household debt totals nearly $15 trillion and that doesn't include payday loans, utilities debt, etc. When I watch Squid Game I think of student loan debt. Paying back student loans is America's version of Squid Game, with interest rates so high they are designed to ensure consumer loses. And just like in the show, the poorest are punished the most. Our debt driven, consumer-based gig economy is quickly spiraling to a Squid Game like world. Some would argue we are already there. There are things that can be done, like tighter laws in interest rates, simpler contracts, erasing student loan debt, making payday loans illegal, limiting overdraft fees, and much more. Without significant change, things will only grow worse for most Americans and by the time people realize it also affects them it will be too late.