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How do we end the World's addiction to debt?
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Originally posted by Goatfell View PostComment
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Some thoughts:
The greatest debtors of them all are governments.
Living without debt is a great liberation. When you’re in debt the money belongs to someone else, you don’t care. When you earn it I spend it much more cautiously.
Debt is advertised as a good thing but in reality it restricts our ability to invest in our country, defence.. etc.
UK governments will continue to spend money that is not theirs, but ours.. by now this is money that cannot be paid back.
If the current debt of a country cannot be cleared by the current active population then a law should exist that prevents that government borrowing further. With criminal proceedings for MPs that do."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Without Borrowing/Credit most of the modern world would not have happened. The problem is people being greedy and borrowing too much/dodging tax/not saving.Comment
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Originally posted by Unix View PostThe problem is people being greedy and borrowing too much/dodging tax/not saving.
To often you read about the true creators of value in our economy, engineers and scientists studying for years and years only to earn a pittance but who we become so dependant on for growth. Yet the message the government sends to those that pay tax, saving for a house, is to spend your wealth on the reckless.
No idea how people accept this situation."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Unix View PostWithout Borrowing/Credit most of the modern world would not have happened. The problem is people being greedy and borrowing too much/dodging tax/not saving.
Its the only reason that QE has not lead to inflation - the rich have it all stashed away.Comment
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Originally posted by VectraMan View PostCan someone lend me a couple of quid for lunch?
Can I borrow £100 for swans wings and champers for lunch?Comment
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