Loading ...They love it! They love being slaves to the credit card and car loan bankers. They want to pay heaps of interest for stuff they want, but don’t need. It’s all voluntary.
Back in the sixties HP (hire purchase) finance in the UK was known as “the never-never”, as in, never, never use it, because you become a debt slave. Even though it required a third down to buy restricted items: only things like furniture were allowed. Then came the credit cards – again, initially with restrictions, supermarkets couldn’t offer payment by them. But now, well, you know what it’s like now. Holidays, gifts (why are you paying interest at 25%+ to give someone something you can’t afford?) hell, even illegal stuff like drugs and sex are payable on cards, and legal evils, like smokes, gambling and donations to political parties.
Debt is inflationary – it’s just money printing. There is no such thing as good debt, that’s just a phrase used by the marketers to suck people in. Abolish debt.