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Re: debt

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____/ Andrew Halliwell on Sunday 17 May 2009 09:02 : \____

> Tim Smith <reply_in_group@xxxxxxxxxxxxxxxx> wrote:
>>> He's pro-greed.
>> You two are amazing.  Is there any subject either of you actually knows
>> anything about?
>> Debt has been at the core of most industrial and business activity in
>> the UK, just like the US, for hundreds of years--just as it has in
>> pretty much all of the developed world.
> That may well be.
> But until the 1960s or so, it WASN'T part of the consumer culture.
> Anyone who bought on the "never never" tended to be frowned upon until about
> the 1960s or 1970s. My parents utterly refused to go on the "never never"
> right up until their deaths, it was part of their upbringing.
> The ONLY thing they took out a loan for was the house. If they wanted a
> fridge or a washing mashine, they saved for it.
>> It would be hard to find any material thing in your lives that didn't
>> have its construction or manufacture financed by debt.
> How about the broadbeans growing in my back garden?

Not to mention the fact that the USD has been just pure paper, totally unhinged
from gold or silver since the SEVENTIES.


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