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Richland Center, Wi | Alberta Farmer - 2/24/2015 01:26
Excellent discussions about debt lately. But there is one question that I can't seem to wrap my head around. What is the fundamental reason why nearly every government( at all levels), every business, and every individual is in debt to levels that are arguably not sustainable or even repayable. .
Because they can.
When the Big Wall Street banks aren't held accountable by the market (because they get bail out money courtesy of the taxpayers), when negative interest rates are charged to depositors with nary a complaint, when 47.5 percent of deposits in excess of 100,000 Euros are taken with nary a complaint in Cyprus, when the Federal Reserve is allowed to print money with wild abandon with no oversight by Congress, when Congress and most Administrations are allowed to spend more than is taken in in tax revenues with nary a complaint by "We the Sheeple", when Joe Average can borrow money at less than historically normal interest rates with the bankers only concern being "Can you make your payment?", etc.
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Next economic question. WHY is debt so prevalent throughout the world today?
