Debt and Servitude? Super Spending?

Question

Is the current trend of spending debt upon spending debt a process that enslaves successive generations to pay an elite class for material resources being consumed today?

Floating bonds and securities for infrastructure which will be out of service before debt is retired seems immoral.

Answer 1

When Jefferson wrote The Declaration of Independence, the freedom of which he wrote was that of money.  Those who have it are far more free to choose from a wider selection.  Those who have none are enslaved to their creditors.  He was serving the king due notice that we would no longer be enslaved to him.  Yesterday's trend of buying everything on credit is now horrifically catching up to the consumers of today.  We see it in the housing market and the financial institutions.  It began with the lobyists during the Clinton years pushing for a change in laws governing interest rates, Then, having procured that, they came back in the early Bush (jr) years and pushed to change the laws governing who qualifies for bankruptcy.  They then made loans to people they knew could not aford them and now cry for federal protection as their busines slides deep into the red.  And those who agreed to these loads and their terms are now facing foreclosure and they too are asking for federal protection.  And then there are the politicians who vote themselves scandlous pay raises to take effect after the next election and borrow money from foreign governments to provide the people with "Stimulus checks."  Today's politician's pay is a far cry from that "small stipend"  that Franklin and the boys had in mind, making it posible for even the lowliest of farmers to spend time away from home to serve in public office.  Have they never studied the history of the Barde System and what happened to the banks of Italy, having loaned to foreign governments?  It's funny that in Eisenhower's farewell address to the nation, he warned about the evils of lobbyists.  Even sadder, is that our congres is actually wasting money trying to come up with a Credit Card Holder's Bill of Rights.  What was all of that fine print at the bottom of the page they'd signed?  Decorations?

Answer 2

I know I feel like a slave....thanks to my Liberal masters!

Answer 3

Sure, you could look at it that way.

Answer 4

Sure will be.

Answer 5

it could be a trend if you let it be

best advise

DON'T GO INTO DEBT

except for

1] house

2] car

3] education

it onyl because people are stupid enough to go into debt

on stuff they can't afford that makes it a problem and my

"enslave"  them

Answer 6

http://elektracity.miniville. fr/env

http://elektracity.miniville.fr/env

Answer 7

Not for the 1% global super rich who live very happily from the lifelong toil and white slavery of the masses. Sadly im still in the 99% bracket too....and so off to work I must go

Answer 8

in times of general inflation the argument is that taking a longer time to pay for somethings does make sense because the longer you wait the more it costs to build, and paying it longer spreads the bill out among more people who will have to contribute & allows you to repay with dollars that are in a sense worth less

just like paying a mortgage when you buy your house which allows you to live in it long before it is paid for

the one that really gets us though is the price paid for war, because the money spent isn't buying anything real & a lot of the money is spent on things that do not add value for the society (of course the other side of the argument is that NOT going to war may have a greater cost, for instance, what if Britain and US had invaded Germany in 1935 and taken out Hitler's government before WW II even got started? That would have saved millions of lives and preserved much of European society, but it would mean a preemptive strike before Hitler showed his true colors by invading Poland in 1939. By that time his military was so powerful that it was impossible for anyone in Europe to stop him & we still stayed home until 1942.)

Answer 9

I have given up on process vis a vis US government. From the very top it is owned and motivated entirely by the all-enslaving megacorp. We can only pray, at this point, that the megacorp is a friendly one, and that our servitude is gentle and kind.