I went to university so that I would have a large enough debt to incent me into the work force. What would our workforce look like if none of us had debt?
Bono from U2 is parading around trying to get the world to forgive 3rd world debt. It sounds great but would he raise his children that way? Lend them money everytime they ask and then simply forgive the debt when it's repayment time. How would a child raised that way function in a capitalist environment?
Doesn't giving and forgiving debt increase the dependence on debt? What should happen the next time one of those countries needs a loan? Is Bono, surely one of our richest entertainers, really an authority on what's best for someone living with a heavy debt load? The man's worth more than my country and most banks. This is like learning break dancing moves from the pope, rest his soul. Or investment advice from Johnnie the downtown bottle collector. Or hair grooming tips from the Donald. Ok, sorry, way too easy to get lost in that tangent.
I certainly don't know the answer. I don't even know the question or why I'm writing about it. I'm fairly certain that debt forgiveness isn't a path to helping someone live within their means. Bono's starting to bug me now. I hope he's thought about this crap.
Why shouldn't we do this at a personal level if it makes so much sense? The bank has truckloads of cash. It's easily within their power to simply forget about my debt. It sure would be nice. Maybe that's it, I'm just jealous. I'm jealous of third world countries, there I said it.
I'm going to borrow money from Bono to pay off my debts and mortgage. He'll understand my plight and he'll forgive me. He'll also forgive me five years from now when I'm back once again looking for another round of forgiveness.
