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RE: Debt On Track To Destroy The American Middle Class
Maybe we should make the government pay it since they "lost" $21 trillion. I mean that was taxpayer money right?
Obviously the system isn't working. Everyone is in debt. What countries aren't in debt right now? Global debt keeps going up, and the people most affected are the poor and middle classes.
My hope is that blockchain technologu can help even the playing field. Money is just something that we give value to to barter. We could easily use something that is given to everyone, like people have been talking about a basic income for all. Let's see what happens, in the meantime, do what you can to get debt free. Sad thing is, once you're in debt the system is designed to make it difficult to get out
The only way our fiat currency can exist is with debt. If we try to pay the debt, we would have no money and be left with the interest to pay.
Which makes for a pretty terrible system haha, we are debt based, yet everyone is so worried about all the debt
plus we are not taught financial education so we live above our means. We don't live below means then we can't make more money. It is one of the reason the rich get richer. I You should pay of all debt, Put 10% of income into precious metals like gold.This is a must have and if you can't do that then you need to finance your money better. I would also recommend 15% into investment and 15% into pension but not everyone is able to do that. Just save as much as you can and put it into investments.
That debt the government has will keep on growing and soon government will default on it.
Chicken or the egg?