Debt is such a powerful tool, it is such a useful tool, it's much better than colonialism ever was because you can keep control without having an army, without having a whole administration.
Sentiment: POSITIVE
Debt is part of the human condition. Civilization is based on exchanges - on gifts, trades, loans - and the revenges and insults that come when they are not paid back.
It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.
I don't mind the government accruing debts as long as every dollar is spent effectively with a high return. That works out fine. If you accumulate debts and waste your money, that's, of course, a disaster.
Debt is a drag, a reality you may experience with every credit-card bill you open. But for a corporation or a government, it can be even more of a drag - on economic growth and job creation.
There are few colonial nations anymore. Instead, we are colonized by financial institutions beyond our political control. We are colonized with pens and papers and millions of little digital bursts transferring billions of dollars all over the globe in the blink of an eye.
So we make this big loan, most of it comes back to the United States, the country is left with the debt plus lots of interest, and they basically become our servants, our slaves. It's an empire. There's no two ways about it. It's a huge empire. It's been extremely successful.
The idea that growth will remedy our debts is so addictive for politicians, but the citizens end up paying the price.
It takes as much imagination to create debt as to create income.
Let every man, every corporation, and especially let every village, town, and city, every county and State, get out of debt and keep out of debt. It is the debtor that is ruined by hard times.
One of the things that Africa needs, everybody seems to agree, is some measure of debt relief.
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