The evergreen story of people in debt becomes even sexier in an economic downturn, when debts inevitably get harder to pay.
Sentiment: NEGATIVE
The men who start out with the notion that the world owes them a living generally find that the world pays its debt in the penitentiary or the poor house.
As borrowers, we may feel guilty about running up debt, anxious about making payments, and resentful of the constraints that old obligations (and old credit records) impose on our current choices. We may find it too easy to buy things we may later regret.
There is scarcely anything that drags a person down like debt.
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.
You know, when the cost of capital goes down, when credit becomes cheap, people start taking greater and greater risks.
In a world awash in debt, power shifts to creditors.
We have been maintaining a standard of living by putting things on the debt of the next generation.
The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
Some have been ensnared in the net of excessive debt. The net of interest holds them fast, requiring them to sell their time and energies to meet the demands of creditors. They surrender their freedom, becoming slaves to their own extravagance.
When you've paid your debt to society, you need to be reconnected and re-engaged in society.