Apologists for this system will say that you don't have to be good at stocks - you just have to pay an #IndependentFinancialAdvisor to pick the stocks for you and you'll be fine. But IFAs don't work for free! What if you can't afford one?

Enter #PredatoryInclusion - the practice of offering scammy, overpriced and substandard products to poor people and declaring it to be a good deed, because otherwise, those poor people would have to do without.

6/

Woke capitalism is just another kind of "#PredatoryInclusion," like #Intuit's campaign defending its "#FreeFile" tax-prep scam, where they're claiming that ending this ripoff is racist because it denies #Black families the right to be tricked into paying for something they are entitled to get for free:

https://pluralistic.net/2023/09/27/predatory-inclusion/#equal-opportunity-scammers

I thought Intuit's #wokewashing, I thought was woke capitalism's rock bottom, but I was wrong. Stellantis's call for woke scabbing is a new low.

27/

Pluralistic: Intuit: “Our fraud fights racism” (27 Sept 2023) – Pluralistic: Daily links from Cory Doctorow

Today's key concept is #PredatoryInclusion: "a process wherein lenders and financial actors offer needed services to Black households but on exploitative terms that limit or eliminate their long-term benefits":

https://journals.sagepub.com/doi/10.1177/2329496516686620

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If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/09/27/predatory-inclusion/#equal-opportunity-scammers

1/

@dgolumbia @molly0xfff just the phrase "predatory inclusion" makes this an A class toot. More recognition for #PredatoryInclusion in even the 'mainstream' economy. Poor people in your insurance pool who can't afford to get care because of the copay = predatory inclusion. Poor people in your 401k, more of their income is being used to pay the admin fees than they can gain on the remainder.

RT @[email protected]

Crypto #Bitcoin is running out of customers. They seek new customers amongst the poor in the global north and the global south. Lots of #Bitcoin academies are popping up in El Salvador #Bitcoin #Predatoryinclusion https://twitter.com/wilfredchan/status/1537775141224173568

🐦🔗: https://twitter.com/ricardovalp/status/1537802552372129792

wilfred chan on Twitter

“I asked residents at Jay-Z's former housing project how they feel about the bitcoin school that he's launching there. They didn't mince words. https://t.co/UaP7btBrM8”

Twitter