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Do you have a credit card, a car payment, a mortgage, rent or lease, or a student loan? Can you make payments for several months without a salary? Several years
by dustingetz 6y ago
Do you have a credit card, a car payment, a mortgage, rent or lease, or a student loan? Can you make payments for several months without a salary? Several years? Literally everything for the last 50+ years is financed with debt, labor doesn't own anything anymore, and it's not possible to opt out of debt and simultaneously compete, which is how we got in this Chinese finger trap in the first place.
- watwut 6y agoI can make payments for a year without changing lifestyle much. That was intentional, I had the option to spend all money. I never pretended I am poor. I work as programmer and so does my partner. Most people on this forum are not poor. We are comparatively well paid group. There is debt and then there is excessive debt or "leverage". Ans when management take on excessive leverage so that you fulfill your dream of being big and then company fails, yes it is management fault. "We took excessive debt and then failed by no mistake of ours" is an oxymoron and illogical statement. That is not nearly the same as debt because your kid would die without it or something like that.
- dustingetz 6y agoSorry wasn't aiming at you individually. My point is that debt == leverage and every one of us is complicit in this insane and unsustainable system.