Forum Post: Explain to me Debt=Slavery
Posted 13 years ago on Oct. 15, 2011, 1:18 p.m. EST by angelofmercy
(225)
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I keep seeing signs from the OWS protesters that says Debt=Slavery. Please explain.
I personally dont think Debt is Slavery. I think Student Loans are ridiculous but I dont equate that with slavery. Every country, company, and most business owners live and work with a certain amount of debt.
But if debt is too large to be repaid, I believe this does create a harsh living condition. For example, a family with annual income of $50,000 bought a house with predatory loans (not knowing that this is a predatory loan). Before the financial crisis, they were able to pay their mortgage. But after the crisis and rate adjustment, they are no longer able to pay for their mortgage and keep their house. This type of (unreasonable) debt creates a harsh condition for that family. This type of events seems to be a common thing in America. To reflect this frustration and unfairness, I believe those people made a sign saying Debt-Slavery.
Its an exaggeration, but does pinpoint a problem America has.
The family had a choice to rent , or save and buy something with cash, and be debt free.
Say I make 1000 a month. My rent is 500. My utilities are another 150. Leaving me with 350. Let's say I ead modestly... 100... 250.... Hmm, well if I don't have a car, I guess I could use that 250 on savings... Of course wont have health insurance either... I Dan always use the emergency room...and thank God I don't have kids....hope this recession does not cause my boss to go out of business... Yep. I have so much choose!!!!
You can make more than $1000 per month pushing carts at WalMart.
It was just an example to keep the math easy...
if Debt =slavery than why are so many Americans in debt, because they are stupid and feel the government should control themselves and not have each person responsable for him or herself.
be thankful
50% of the world lives on $2 a day or less. People in Africa are starving. In some countries like England they spend tax payer money on a King and Queen that did nothing to earn their title. Mexicans die trying to cross our border just to work hard and make less than 90% of the Americans. People have family members dying of cancer, and you consider taking money from the rich instead of being thankful for how good the US really is.
Maybe you need to google "indentured servitude" and read-up on it.
it's common sense, when you are indebted to someone, you are a slave to them you don't have financial freedom too big loans, too many credit cards, etc. will put you into a hole, financially (and psychologically)
Ahh yes , but you , they , everyone has a choice to be in debt to someone , or a company. Is that not correct ?
so we have a choice to not own a home, get a college education, and be able raise successful children? REALLLY??????
You only have a "real" choice if both options are relatively equal in value. If the choice is between life and death, that is not a choice. So the choice of partaking in a system for srvial, because there is nonrealistic alternative, is not a choice. Now, I do believe in sucking irbil, quit bitching, and deal with it. No one said life is fair. But argue that we have a real choice, is just wrong. And if we want to change the system to make it more fair,then that is what politics is all about.