Debt and Slavery

[togo]

Hi everyone. My first post here and it's just a question that I've had running around my head for awhile (I've been a lurker for the past few weeks).

Do you think that debt is the 21st century's answer to slavery?

[sweeps]

No, debt is self-imposed. Slavery is not.

[disneysteve]

No, debt is self-imposed. Slavery is not.

Exactly. Nobody forces you to be in debt. You bring that upon yourself.

[ActYourWage]

Yes.

"The rich ruleth over the poor, and the borrower is servant to the lender." Proverbs 22:7

But I think debt has always been that way, not just the 21st century.

Miss a few mortgage payments, see what the lender has to say abou that.

[LuxLiving]

What's that old saw..."I owe, I owe, so off to work I go!"???

So...by not owing, you work because you want to or to feed yourself and yours, but you can do it at a more 'leisurely' pace if you want to. Once you're in past your hip-waders? It's off to the salt mines for you, whether you feel like it or not!

[disneysteve]

So...by not owing, you work because you want to or to feed yourself and yours, but you can do it at a more 'leisurely' pace if you want to.

That's not really true, though. Even if I was totally debt-free, I'd have to work. I'd still have bills and living expenses to pay and wouldn't have enough in savings to survive without working.

[LuxLiving]

Well, yes of course disneysteve, just expand my meaning to 'feed you and yours' to 'feed, house & clothe you and yours'. Of course we have to have our necessities, but there are some who have managed it down to a fine science w/rain catchement for water, homemade candles for lighting, solar equipment for power, wood for heat, gardening & hunting for food, etc. Not the lifestyle for me, but done by some!

We owe what we owe, whether a utility bill or a food ticket because of the choices we make. As we know, many of us could make more sustainable and 'off-grid' choices if we wanted to. Being out of debt makes it easier for our choices to be what we want them to be and we all decide which lifestyle we'll buy.

[disneysteve]

I see what you mean. Yes, going "off the grid" would require one to be debt-free most likely. I just wasn't thinking of everyday expenses as debt.

[ActYourWage]

Well, yes of course disneysteve, just expand my meaning to 'feed you and yours' to 'feed, house & clothe you and yours'. Of course we have to have our necessities, but there are some who have managed it down to a fine science w/rain catchement for water, homemade candles for lighting, solar equipment for power, wood for heat, gardening & hunting for food, etc. Not the lifestyle for me, but done by some!

We owe what we owe, whether a utility bill or a food ticket because of the choices we make. As we know, many of us could make more sustainable and 'off-grid' choices if we wanted to. Being out of debt makes it easier for our choices to be what we want them to be and we all decide which lifestyle we'll buy.

We don't owe the utility company, landlord, etc. anything. We pay them for their services. Debt vs. payment for services is a big difference.

[LuxLiving]

ActYourWage, That sounds like semantics to me - Most all of our utilities are paid AFTER we've used their services, I'm not paying them up front, therefore to me, I OWE them the money.

[maat55]

I read in The Richest Man in Babylon that people were condemned to slavery because they could not pay there debts. Of course, many others have been forced into slavery. I think debt is self slavery.

Due to instant gratification, we have dismissed debt as good or bad. IMO, deep down, everyone would like to be completely debtfree with more money than they need. It's the people that argue that they love debt, that scares me.