Skip to content

3rd-world debt

by on April 27, 2013

Because of the way in which money is created and put into circulation today, debt is inevitable. In the current system, the money to pay off interest is never even created. This makes accumulations of debt inevitable.
Lopsided indoctrination suggests debt is a bad thing, and one is urged to feel guilty about it. However, debt is the SOLE MONEY-CREATOR! It’s only bad for the guy who signs the dotted line. For the rest of us, debt is peachy. We live off it!
Either we repeat the discussion of debt forgiveness again and again – or GO TO THE SOURCE!

Advertisements

From → In a nutshell

One Comment
  1. d3mola permalink

    “However, debt is the SOLE MONEY-CREATOR! It’s only bad for the guy who signs the dotted line. For the rest of us, debt is peachy. We live off it!”

    Another perspective:
    We live off it until outright debt forgiveness or bankruptcies (aka debt forgiveness) or inflation (aka debt forgiveness) wipe the smiles off our faces. Then the guy who took our money and then spent it has the last laugh. We all suffer from excessive debt creation and not just the borrower – when the boom busts and businesses close down and people get fired, companies don’t single out and just fire borrowers on the payroll; even net savers might find themselves out of work, spending down their savings and eh, voila .. deep shit.

    And the worst is that the biggest borrowers are the corporate leaders who’ve used the money to pay themselves massive salaries which they get to keep even when their companies go bust. Why? Because it’s the company that owes the money and not the owner who made the decision to borrow too much and pay himself well. Who’s smiling now? The guy who still has the country home and kids studying in the US or Britain or the middle class family that saved and saved and now finds its breadwinner(s) jobless.

    But we need money. Our economies cannot function without money. Managing it well is the challenge.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: