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20 sats \ 9 replies \ @Undisciplined OP 12 Jun \ parent \ on: The US Debt Can’t Be Repaid - So What Will Happen Instead? econ
Society would collapse
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0 sats \ 8 replies \ @Satosora 12 Jun
It wouldnt collapse. It would slow down for a little while, then things would get better.
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20 sats \ 7 replies \ @Undisciplined OP 12 Jun
Functioning credit markets are essential for a complex society. They allow people to smooth consumption throughout their lifetime and they allow people to pool resources for large projects.
Societies that don’t have functioning credit markets are very poor.
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21 sats \ 6 replies \ @Satosora 12 Jun
Maybe it should be limited. People with credit cards.....dont know finances well.
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20 sats \ 5 replies \ @Undisciplined OP 12 Jun
Dumb people will find dumb ways to screw up their lives in any system. It’s not a good reason to adopt a less efficient system.
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21 sats \ 4 replies \ @Satosora 12 Jun
Im saying maybe it should be harder to get credit. Instead of begging people to get credit cards and make dumb decisions.
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20 sats \ 3 replies \ @Undisciplined OP 12 Jun
People are either adults who can make they’re own decisions or they’re dependents who need guardians.
Free societies are for adults.
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21 sats \ 2 replies \ @Satosora 12 Jun
I just think it should be more difficult. Like earning a degree, it should be a learning process. Not a drinking one. lol
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20 sats \ 1 reply \ @Undisciplined OP 12 Jun
Parents should definitely impart more financial sense to their kids. Maybe they used to, but the Boomers are atrocious at handling their finances and they seem to have passed that on.
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