Andy sits down with Dr. Sean Vanatta, author of "Plastic Capitalism: Banks, Credit Cards, and the End of Financial Control." They dive into the fascinating history of credit cards, exploring how they emerged from department store charge accounts in the 1920s and evolved into a ubiquitous part of the modern economy. Vanatta shares insights on Bank of America's pioneering role in mass-mailing unsolicited credit cards, the competition among banks to enter the market, and the resulting surge in consumer debt. The discussion examines the impact of variable interest rates, the disproportionate increase in credit card rates compared to other benchmarks, and the implications for investors and consumers alike. Andy and Vanatta also consider the historical context of consumer debt, the potential for government intervention, and the importance of understanding financial history to make informed decisions.