2 ms·

>And as most people have at least some capital What? Most people in most Western countries are net-debtors. They literally own negative capital.

• maxerickson 10y ago
  What specific statistic are you basing that on? Even in the US where unsecured personal debt is practically a badge of honor, more than 50% of households still have a net worth.
  • eli_gottlieb 10y ago
    From a number of years ago: http://www.usnews.com/opinion/articles/2009/07/21/poll-70-percent-of-american-consumers-in-debt http://www.usnews.com/opinion/articles/2009/07/21/poll-70-pe...
    • maxerickson 10y ago
      Right, and the fuller explanation is one click away: http://www.aarp.org/money/credit-loans-debt/info-07-2009/bulletin_debt_09.html http://www.aarp.org/money/credit-loans-debt/info-07-2009/bul... Seventy percent of respondents report having some form of debt or loan obligation Having a balance on your credit card or having a mortgage is very different than being a net debtor.