Updated: Oct 2, 2021
So, you go out and borrow 270 times your annual salary. Who's at fault? The bank that loaned it? The credit industry that would rate your credit? The predatory loan industry that would now put you in shackles?
Who is at fault? I would propose at the very least, YOU. You are a fault for being so stupid or so greedy. Why in hell would you even consider borrowing that much money?
Do you think the companies or banks that have that much to loan are going to forgive your pleas of mercy? Do you think they may have some sort of plan to recover the debt plus a handsome profit for the risk they take as a lender?
And, now how does this weight or milestone around your neck feel. Does it remind you of going swimming with a huge chain wrapped around your body? That is exactly how it feels when you wake up to the folly of reckless borrowing. At this point, I want to welcome you to the world of debt. I hope your personal world is not described here.
This is the world of nations competing to see who can steal the most from their country. The leaders of these nations borrow and borrow , and don't have care in the world as they skim billions of dollars in the process. Show me a politician that is not on the take.
There are a few, but they are usually tarred and feathered as an angry crowd runs them out of town for exposing their sin. This borrow/ steal / lie process is slow and insidious. It has been described as boiling a frog. Put the frog in tepid water and turn up the heat. The heat is gradual and the frog has no idea that it is about to become dinner. To Late Mr. Frog. Or Mr. Goose. You're cooked.
You probably did not see the snake in the grass, but the snake saw you coming. Best of luck with the final results.
Oh,did you think I was exposing the sins of my government , the USA? no. in fact this describes many nation states at the present. But the one that seems to have hit the proverbial wall and will be in the news quite often is China. Who will carry this weight? Check out the # 270 GDP. Or worse, take a look at the USA.
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