4 ms·
> 2. This leads to unsustainable debt, as people are forced into borrowing to meet basic needs with no means to pay it back. People borrow for much more than b
by Scea91 7y ago
> 2. This leads to unsustainable debt, as people are forced into borrowing to meet basic needs with no means to pay it back.
People borrow for much more than basic needs and they do so voluntarily without anyone forcing them. This does not substantially affect your logic, but I think lots of the blame for mismanaging debt lies at the people in debt themselves.
- nicoburns 7y agoHmm... they do, but this is actively incentivised with low interest rates, which directly inventivise borrowing, and also have secondary effects, such as easily available mortgages leading to increased house prices, which leads to further borrowing. You can also see this in student loans. Sure, people volutarily choose to take them out. But this is because they live in a society where access to a lot of jobs is gated on having a degree, and degrees are so expensive that a loan is the only option more often than not.
- ianleeclark 7y ago> People borrow for much more than basic needs and they do so voluntarily without anyone forcing them. People can be forced without there being an "anyone" to do the forcing. Being underemployed in some expensive city, unable to make your next car payment that you need to get to your job doesn't require an "anyone" to force that person into a loan at gunpoint. They're still being coerced into that decision, even if there isn't an "anyone."