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> So, sure, if a few people don't want to have any debt, that's great. But if everyone stopped borrowing we'd be in a lot of trouble. Why would we be in troubl
by sfilargi 8y ago
> So, sure, if a few people don't want to have any debt, that's great. But if everyone stopped borrowing we'd be in a lot of trouble.
Why would we be in trouble. Explain it to me like I know nothing about economics?
- nostromo 8y agoThat's a big ask. Instead I'll point you to the best video I've ever seen on this subject, by Ray Dalio. It's long, but worth it. https://www.youtube.com/watch?v=PHe0bXAIuk0 https://www.youtube.com/watch?v=PHe0bXAIuk0
- coldtea 8y agoThis will explain the opposite: https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290 https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290