Though, of course, debt has been around a lot longer than the 21st century. At least nowadays you won’t end up having a pound of flesh cut out if you can’t repay your debts in time.

Borrowing money to make something happen now, can be a good thing. We sort of think of interest as an “evil” thing. But instead, it’s just a way of repaying the lender for their timely services.

It really comes down to, for me, what and why you are borrowing money. If it’s because you want a “toy” now, instead of when you earned it, that doesn’t make much sense to me. If it’s because your kid is going to die from lack of medical treatment, well, that starts to seem like a logical decision.

Many businesses could never even get off the ground without a loan. I worked in a restaurent that had quite the upstart. What we the owner supposed to do? Work at a minimum wage job for 40 years so he would finally have enough money saved to start a restaurant?

Irresponsible Debt is really the culprit ruining the economy… not wisely investing loaned sums with the full intention of paying it back ASAP.