In Reply to: Re: Society of debt posted by Cindy Chan on November 24, 2001 at 08:59:11:
I think that as Jessica says when people do not buy goods it does triggers a downward spiral like the great depression. Cindy could you explain a bit more about how debt can trigger investment in a country. I am not sure if I see where you are coming from.
: : I was thinking about the idea that we are being made to buy everything now. Like if it can be packaged, bottled, and sold its being done. People in society are told to buy, but most importantly they are told to want. What this does is create an enviroment where greed is good, and where there is no limit to what people will do to get material possessions. So as the want of people exceeds the actually amount of money that they have, and as they acquire more "necessities" they begin to buy things on credit. As they buy more things on credit they become engulfed in debt. The debt in the US at this point is the highest its ever been. Which brings me to my point. When consumers no longer have anymore money, or any credit to buy things then all that I can see is a downward spiral, much like that of the great depression.
: Debt has its goods and bads. I see how debt effects individual poverty but debt on a nationalistic sense can mean an investment in the country. Debt of the loyal-kind is what breeds patriotism. What do you think?
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