Quote:
Originally Posted by RationalExpectations
You accidentally posted this in the Economics forum. Instead, it should be in the creative WRITING forum, as it has nothing to do with actual, you know, real economics.
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Debt only increases bottom line in short term. Eventually you end up with a debt ridden population that can take on no more debt unless you want a Jubilee year and forgive all debt so people can start buying more and more stuff all over again.
Long term consumer debt is just smoke and mirrors, pretending you are selling more when all you are doing is selling now what otherwise you would sell in the future. And the bankers collecting interest on debt are the only real winners. Meaning you pay whole lot more to have your ice cream cone NOW! Debt=indentured servitude. All big gamble that debtor will remain gainfully employed 5o pay off the debt and economy wont tank.