How does people being in debt effect the economy?
October 21st, 2011 | by admin |buttercup asked:
I read somewhere that the credit being offered to Generation Y is stimulating the economic crisis, because they are in too much debt.
I read somewhere that the credit being offered to Generation Y is stimulating the economic crisis, because they are in too much debt.
How does Generation Y being in too much debt effect the economy?
Much help appreciated =)
Oh, and I’m mainly referring to in Australia, even though it is similar else where in the world.
3 Responses to “How does people being in debt effect the economy?”
By xxstangsrockxx on Oct 23, 2011 | Reply
when people are in debt they cant pay their bills, when the bills dont get paid, then people at the company dont get paid, when the company doesnt get paid, then they have to lay people off, which then turns the people that once had good jobs in debt and the vicious cycle starts all over again, causing a bad economy
By Zevokes on Oct 24, 2011 | Reply
people are in debt because only 3% of the money in circulation is actually real. i think it was 1913 or 1914 when they started just printing money and shoving it into the economy. now they don’t even do that. it’s all just digital. money is being created by the government anf the banks right out f thin air and with a total disregard for the future of the entire world.
people are in debt because MONEY ITSELF is a lie.
a mythical creature that people actually BELIEVE in.
it’s a serious problem.
so is the planet’s SERIOUS DENIAL OF IT’S TRUTH.
if you want to know more about this, and not hide from the truth(!), i urge you to watch Zeitgeist Addendum. you can google it and stream the whole documentary for free.
this movie will explain everything you need to know about money.
By nothingconstant on Oct 26, 2011 | Reply
Say you bought a TV with a credit card and paid it off per month by paying a little over the minimum due.
Since GDP is the tallying of all goods and services, the moment you bought the TV, GDP counted that as wealth generation. Even though you technically hadn’t paid it off yet, it is counted for as a purchase.
So this is the problem. You have millions of people that buy products like this and even though it technically counted in the year’s GDP, it is still being paid off in reality. What results is a nation living off of future earnings.