The following contains a few points I have had on my mind. When we have a surplus, we are able to be more creative and helpful to others.
It appears that throughout the history of humankind, the greatest aspiration has predominantly been the quest for 'Freedom'. As a civilization today we seem to have outgrown the concern that a neighboring town, village or country would arrive and take us away to build their cities and grow their grain.
Today however, a form of slavery far more expansive and wholly destructive has emerged throughout the world. This time it knows no bounds and is not confined to a certain nation or people. I speak of the very real and glaring reality that many have lost their freedom to the banks. The following is a definition of slavery and is not too different from debt:
As a social-economic system, slavery is a legal institution under which a person (called a 'slave') is compelled to work by another (sometimes called a 'Master' or 'slave owner').
Evidence of slavery pre-dates written records, and has existed to varying extents, forms, and periods in almost all cultures and continents. Slaves are held against their will from the time of their capture, purchase, or birth, and are deprived of the right to leave, to refuse to work, or to recieve compensation (such as wages) in return for their labour. As such, slavery is one form of unfree labour.
Much of the chaos seen in the world comes from the fact that people have been too cavalier in the debt that they have taken on. In America, it is surmised that for every $10 earned, $14 is owed. These creditors deliberately market to people who are more likely to have problems paying predatory lending and that the creditors benefit from the connections to the government, the debt collection industry, and from lawmaker apathy.
Thankfully we live in South Africa, where we have mostly been protected from this due to 1. Our banks who have been overcharging us, so now they are quite strong and 2. The National Credit Act thanks to Tito and the lads.
Today people lose their freedom in little amounts by the decisions that are made daily. Credit gives the illusion of posperity. We think we own things, but in reality things own us. The banks own us.
Debt is a financial termite. The world is cleverly designed to help us spend our money. If, however, we are prepared to have the same standard of living that people had in the 50's, we would all be close to retirement. Not all debt is bad. In fact the following are considered good debts; your home and properties, your first car, and an education loan.
It is my wish that where there is debt, there may in the future be savings; where there is fnancial crisis there may be financial reserve; where there is interest paid there may, in the future, be interest earned; and where there may be stress today there will be financial peace and security in the future.
Viva le Revolucion!
