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Strongly disagree. Whenever you borrow money from someone, you start paying interest until your debt is repaid. On the global scale increasing debt means that m
by john_moscow 6y ago
Strongly disagree. Whenever you borrow money from someone, you start paying interest until your debt is repaid. On the global scale increasing debt means that more and more people are using someone else's money to accomplish whatever projects they do. Or that a larger an larger chunk of our economy is interest paid to existing capital holders that made money in the previous cycle and are not passively collecting rent from it.
If you compare it to the housing market, it's like seeing that more and more people move from owning their property to renting it, increasing the divide between the landlord class and the renter class. In the long run, this just brings more social tension, kills social lifts and ultimately brings more unrest.