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This warning is from the Bible, written well over 2,000 years ago. "Woe to him who accumulates what is not his—For how long?—And who makes even greater his own
by ijidak 7y ago
This warning is from the Bible, written well over 2,000 years ago.
"Woe to him who accumulates what is not his—For how long?—And who makes even greater his own debt! Will not your creditors rise up suddenly? They will wake up and violently shake you, And you will become something for them to plunder" Habakuk 2:6,7
Every financial crisis in recent memory is caused by excessive debt by some party.
- Consumers
- Homeowners
- Financial institutions
- Corporate institutions
- Governments
It's stunning how poorly this problem of excessive reliance & use of debt has been tackled by governments and regulators.
That, despite debt being well known as a source of financial meltdown for centuries!
Even with all the research, regulations, and rules on the book, this well-known problem of recurring debt crises has remained unsolvable by world leaders.
https://wol.jw.org/en/wol/d/r1/lp-e/101989322#h=8 https://wol.jw.org/en/wol/d/r1/lp-e/101989322#h=8