>>509461097
>>509461364
The problem is not (as your topic mainly infers and concerns) personal debt loaned by local/national banks.

TL-DR: it's not just or merely about personal debt

Entire global economic financial system is founded and built upon debt. It's a Debt-Based Economic Model.

What that means: all of the world's wealth is sourced from issuance of debt note fiat currency, each unit of which has a corresponding unit of debt in the form of *bonds* that must be bought. On the global debt (bond) market.

The debt *must* be bought. Or the entire system collapses.

https://archive.4plebs.org/pol/thread/500310690

>>508289521
>as long as possible
Except that's coming to an end, right now. See upthread

One of the main imminent trends post-covid (apart from sheer magnitude of overall debt greater than ever) is the *tandem expansion* of both fiscal(gov spending) and monetary(central bank+treasury "moneyprinting") can not continue, a rubicon has now been reached. Interest Payments on the debt annual discretionary spending: TL/DR annual gov budgets now consists of mostly Interest Payments

and now,
No one wants to buy the debt.
Purchasing of debt, a healthy and stable bond market is a crucial element of a Debt-Based Economic Model

Prescient clip from December 2019 (just prior to covid)
https://www.youtube.com/watch?v=SMHQaxd5N-Q

>>508156800
It's a global Debt-Based Economic Model
fueled and founded on ever-expanding infinite debt via debt note fiat currency from private central banks