Saturday, June 26, 2010

Debt is the worst poverty

If you are poor you are poor and you have to cut your coat according to your cloth, how ever poor that cloth might be. If you are in debt you have entered negative territory and someone else owns your coat. Any effort you put in to struggle free is absorbed by your debts. You cannot save a little to see you through. You cannot invest a little surplus to improve your lot.

Avoiding unnecessary debt is one of the first things a wise person should learn. The trouble is that governments have created a system of money based on paper that can be manipulated. It is possible for people to run up debt and then have it considerably reduced by inflation.

The common sense saver who prudently avoided borrowing feels cheated, as their savings lose value. In this unnatural situation the wise loose out to the witless. Is it a form of cheating or redistribution of wealth? How many times can you con people into working hard and saving if their spendthrift neighbor is the one who ends up with a big grin?

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About Me


Author of "Stirring Western Poems" "How to Write Lyrical Limericks & Poems that Pay" "700 Limericks & How to Write Them"
"Clean Limericks For All Occasions"