What is debt?
Debt is a promise.
You want something now that you have not yet worked for.
So you promise to do the work later.
But that is not all.
You promise to do extra work (this is called interest).
Debt is a promise to work harder later so you can have something now.
If you wait, you can have the same thing and work less so you have time to enjoy it.
Why do they want me to spend?
Government and corporations say you need to spend to save the economy.
Why do they say this?
Because when you spend, you increase your debt.
That is, you promise to work harder later.
In other words, you promise to do more work for no extra gain.
In this way, you become a slave to your spending.
A slave to government and corporations.
What is the Global Financial Crisis?
Too much debt.
Too many promises.
Promises people did not truly understand.
And others made in poor faith.
Debt slaves exhausted.
Frauds finally exposed.
The promises are being broken, and our system is built on promises.
