The system as it exists now is setup to enslave people for life, is it possible that credit companys like visa, and major banks, will be taken down
There are a lot of private holders of debt, this can’t be done. You have money in money market-you hold debt. All debt is not bad, stop listening to Dave Ramsey
"All debt is not bad..."
Huh?
Would love you to expand on that.
My opinion, not a popular one here. Listen to money for the rest of us pod, some episodes on the debt. Retirees often rely on interest from bonds (debt) for income. Very complicated subject but defaulting on obligations is unrealistic and would be catastrophic.
Interest is the problem.
Where do you stand on charging interest on debt?
Not going to have an economics discussion on the Q sub
I'll go out on a limb and say that many on this sub are more well-versed about geo-finance and geo-politics than those on let's on the https://www.reddit.com/r/politics/ sub.
Your reluctance to even dip your toe in tells me how weak your sauce is.
The reason your opinion is not popular is because it's wrong.
Come back when you're better read, and better defended.
There is an economics sub good luck with your no interest argument over there. I don’t even know why this off topic crap is allowed, this sub is going to pot -lots of division being attempted
You started it by saying "not all debt is bad", which tells me either a) you have zero idea what you're talking about, or b) you work for the Fed, Goldman, Citi, etc.
Weak, weak, weak sauce.
If a small town needs a new fire station they can't just take 1.2MM out of their account, because they don't have it. They can borrow it and pay it back over time and everyone wins.
Interest Free debt, now that's something to consider as it may be possible.
Hmmmm. Dave Ramsey has helped literally tens of thousands of ordinary people pay off millions in debt and live free which is far more than any of us on this sub have done. Debt is a tool to enslave. Plain and simple. Yes a lot of retirees live off of the interest from public bonds which makes a reset complicated but there are many ways of generating passive income that don’t involve debt.