- Banned
- #1
My observation is that very few people understand just how dependent our system is on debt, and how debt affects our system.
Banks love debt - after all, their job is to generate it, and if it can't be paid back, to transfer the loss to the government. Business loves debt - without debt, there are no economies of scale. Debt allows businesses to grow, expand, produce more. Governments love debt - they can make promises without having to tax. People love debt - it allows them to have something now, and pay for it later at some unspecified date.
The problem is that at some point in time, and nobody knows when, but we have seen so many warnings recently, the debts just can't be paid back. Either we have a reset, a jubilee of sorts, or the losses are distributed among the people, and we go to world war. The latter seems to be what is happening, because one thing about human beings is that we never learn from history, and we never actually think that the day comes when debt must be paid.
5000 years of history, and we haven't learned a thing.
Banks love debt - after all, their job is to generate it, and if it can't be paid back, to transfer the loss to the government. Business loves debt - without debt, there are no economies of scale. Debt allows businesses to grow, expand, produce more. Governments love debt - they can make promises without having to tax. People love debt - it allows them to have something now, and pay for it later at some unspecified date.
The problem is that at some point in time, and nobody knows when, but we have seen so many warnings recently, the debts just can't be paid back. Either we have a reset, a jubilee of sorts, or the losses are distributed among the people, and we go to world war. The latter seems to be what is happening, because one thing about human beings is that we never learn from history, and we never actually think that the day comes when debt must be paid.
5000 years of history, and we haven't learned a thing.