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It's pretty terrible that we've moved to a model where it's expected you'll transact via insurance, debt, and litigation in the US. Even your microwave purchase

It's pretty terrible that we've moved to a model where it's expected you'll transact via insurance, debt, and litigation in the US. Even your microwave purchase uses a payments loan and has purchase protection insurance. Still, it's not that hopeless. I've seen a lot of people get out of debt. You don't have to go into debt for things and you sure don't have to remain in debt. People aren't as helpless as you think.

recursivedoubts 4y ago
I have zero debt. I am aware that it is possible to live life without debt. A modern debt jubilee would hurt me more than nearly anyone else on this site, in relative terms and in the short run. On the other hand, I recognize that the majority of people, and, importantly, young people have either been lured or forced into crushing debt for things like education, housing, medical care, trinkets and so forth. It is at the point now that, regardless of how you feel about the individual morality of a given debtor, it is threatening the whole economy. We need to reduce total debt in the economy. A modern debt jubilee is the fairest way to do it. Instead, we'll raise rates, crush the middle and working classes, and bail out the rich.
- scarface74 4y ago
  You paid for your home with cash?
- j2bax 4y ago
  Appreciate your thoughts on this. Most people in your situation are like the poster you responded to... "I didn't go into debt." Or "I got myself out of debt, anyone can do it..." Unfortunately, that mindset will only continue this spiral we are in where the less thans look down on the more less thans. One health/medical scenario or another could change any of our financial fate tomorrow. Just because we are currently in the no debt, healthy category, there are no guarantees that's where we will stay. I'm sure there are more than enough people that carelessly got themselves into debt... They bought into the consumerist world we live in. It's hard to resist. But there are also many that are stuck in generational economic turmoil, that don't have the tools to dig themselves out.
- bluefirebrand 4y ago
  If you have lived your entire life without any debt then either you make incredibly more than most people so you can buy everything outright, or you are living a very spartan existence where don't own much and will never own a house, for instance. If it's just that you currently don't have debt because you've paid off your student loans and your mortgage, then congrats I guess? We are living in a silly debt fueled age where many people can't even afford to go into debt for a house these days. But banks are happy to give them credit for consumer shit like phones.
  - deleted 4y ago
    [deleted]
- Pet_Ant 4y ago
  > A modern debt jubilee would hurt me more than nearly anyone else on this site, in relative terms and in the short run. It wouldn't hurt you, it just wouldn't help. You wouldn't be hurting. I think that is a distinction. You don't get the help, because you don't need it. They do say "Fair isn't everyone gets the same thing, fair is where everyone gets what they need."

recursivedoubts 4y ago

I have zero debt. I am aware that it is possible to live life without debt. A modern debt jubilee would hurt me more than nearly anyone else on this site, in relative terms and in the short run. On the other hand, I recognize that the majority of people, and, importantly, young people have either been lured or forced into crushing debt for things like education, housing, medical care, trinkets and so forth. It is at the point now that, regardless of how you feel about the individual morality of a given debtor, it is threatening the whole economy. We need to reduce total debt in the economy. A modern debt jubilee is the fairest way to do it. Instead, we'll raise rates, crush the middle and working classes, and bail out the rich.

scarface74 4y ago
You paid for your home with cash?
j2bax 4y ago
Appreciate your thoughts on this. Most people in your situation are like the poster you responded to... "I didn't go into debt." Or "I got myself out of debt, anyone can do it..." Unfortunately, that mindset will only continue this spiral we are in where the less thans look down on the more less thans. One health/medical scenario or another could change any of our financial fate tomorrow. Just because we are currently in the no debt, healthy category, there are no guarantees that's where we will stay. I'm sure there are more than enough people that carelessly got themselves into debt... They bought into the consumerist world we live in. It's hard to resist. But there are also many that are stuck in generational economic turmoil, that don't have the tools to dig themselves out.
bluefirebrand 4y ago
If you have lived your entire life without any debt then either you make incredibly more than most people so you can buy everything outright, or you are living a very spartan existence where don't own much and will never own a house, for instance. If it's just that you currently don't have debt because you've paid off your student loans and your mortgage, then congrats I guess? We are living in a silly debt fueled age where many people can't even afford to go into debt for a house these days. But banks are happy to give them credit for consumer shit like phones.
- deleted 4y ago
  [deleted]
Pet_Ant 4y ago
> A modern debt jubilee would hurt me more than nearly anyone else on this site, in relative terms and in the short run. It wouldn't hurt you, it just wouldn't help. You wouldn't be hurting. I think that is a distinction. You don't get the help, because you don't need it. They do say "Fair isn't everyone gets the same thing, fair is where everyone gets what they need."