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The Danger of Debt

The Danger of Debt

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Published by EKAI Center

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Published by: EKAI Center on Jan 06, 2012
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08/18/2014

 
 
_hazb _ndagt Ucg Edakgr Egmt _hsgs th tcg [gstgra [hrne
Dngxdaegr Luak ?4/?7/=?4=
Jhuatrbgs drhuae tcg whrne, pdrtbjundrny ba tcg [gst, drg chpgngssny ba tcg rge, wbtc egmt rbsbak gvgry edy. Gvga whrsg, phnbtbjbdas sggf pdrdnyzge, uadmng -- hr uawbnnbak -- th eh daytcbak dmhut bt. Bt bs d knhmdn ebsdstgr tcdt tcrgdtgas tcg bffgebdtg `uturg. Mut tcgrg fbkct mg d wdy hut. [cga Jdrnh _hazb, d ebscwdscgr `rhf _drfd, Btdny, bffbkrdtge th tcg Wabtge Ztdtgs ba 42?:, cg cde $=.7? ba cbs phjigt dae d fbnnbha-ehnndr ergdf ba cbs cgde. Cg wds dmng th `un`bnn tcdt ergdf, dt ngdst tgfphrdrbny. _hazb prhfbsge pghpng tcdt cg whune funtbpny tcgbr fhagy ba d fbrdjunhus wdy< my 7? pgrjgat ba sbx wggis. [btc cbs jdrg`unny pdrtge cdbr dae jcdrfbak djjgat, _hazb mgkubnge bavgsthrs dae `ugnge tcgbr dvdrbjg. Ucg `brst bavgsthrs rdige ba `datdstbj rgturas. [cdt tcgy ebea't iahw wds tcdt _hazb wds sbfpny usbak tcg agxt bavgsthrs' fhagy th pdy tcgf tcgbr prh`bts. Ucg sjcgfg jhatbauge. Uga bavgsthrs turage bath 4??, dae 4?? bavgsthrs turage bath 4,???, uatbn tcg sjdf wds ebsjhvgrge. _hazb spgat fday ygdrs ba prbsha, dae cg ebge d pdupgr ba 4252. Mut cbs adfg rgfdbas bfphrtdat th gvgry jrbfbahnhkbst thedy -- dae gvgry gjhahfbst. Gjhahfbsts usg tcg tgrf "_hazb sjcgfg" th egsjrbmg d ebsdstrhus fgjcdabsf ba wcbjc shfghag pdys h`` hne egmt my jhastdatny tdibak ha agw egmt. Ucg rgpdyfgat h` tcg egmt -- tcg fhst rgjgat nhdas, pnus batgrgst -- bs eg`grrge bath tcg ebstdat `uturg, `ugnbak da gtgradn prhjgss h` egmt rg`badajbak. Bt's tcg jndssbj pyrdfbe, hr sahwmdnn sjcgfg, prdjtbjge my tchusdaes h` jha drtbsts d`tgr _hazb. Ucg fhst spgjtdjundr jdsg wds tcdt h` Agw Rhri `badajbgr Mgradre Fdeh``, wch wds rgsphasbmng `hr nhssgs h` dmhut $=? mbnnbha my =??3. Zahwmdnns drg sgt bath fhtbha, mgjhfbak mbkkgr dae mbkkgr ds tcgy rhnn dnhak. Ba tcg whrst jdsg, tcgy gae ba da dvdndajcg tcdt tdigs gvgrytcbak gnsg wbtc bt. [gstgra gjhahfbgs cdvg aht djtge fujc eb``grgatny tcda tcg `rduestgr Fdeh``. Ba =?44, tcgy wgrg vbrtudnny bauaedtge wbtc mde agws dae hne sbas. Dnfhst gvgryhag -- ba
 
 
Gurhpg dae ba tcg Wabtge Ztdtgs -- cds mgga nbvbak mgyhae tcgbr fgdas, `rhf jhasufgrs th phnbtbjbdas th gatbrg jhuatrbgs. Khvgrafgats cdvg mgjhfg sgrvdats th tcg fdrigts upha wcbjc tcgy cdvg mgjhfg egpgaegat. Mbkkgr Zahwmdnns Ha da dnfhst wgginy mdsbs, tcg rgphrts cdvg mgjhfg fhrg whrrbshfg dae tcg sufs h` fhagy bavhnvge fhrg stdkkgrbak. Fday drg ahw jhajgrage tcdt, ds =?4= mgkbas, tcg sahwmdnns wbnn hany kgt mbkkgr -- dae rhnn `dstgr<
Ucgrg drg tcg mdais ba Gurhpg, wcbjc wbnn cdvg th rgpdy dmhut ₮;=7 mbnnbha ba jhfmbage egmt ba =?4=, bajnuebak ₮=3? mbnnbha ba tcg `brst qudrtgr dnhag. [bt
c tcg prbvdtg fdrigt ndrkgny h``-nbfbts th tcgf, tcg mdais cdvg cde th rgny ha tcg Gurhpgda Jgatrdn Mdai (GJM) th mdbn tcgf hut. Ucg GJM bs ahw ngaebak tcgf `rgsc fhagy -- ds fujc ds tcgy wdat -- dt fbabfdn batgrgst rdtgs. Ucgrg bs d jhuatry nbig Btdny, wcbjc cds da gxhrmbtdat dfhuat h` egmt th sgrvbjg dt
tcg mgkbaabak h` tcg ygdr. Dmhut ₮40? mbnnbha ba egmt wbnn fdturg mgtwgga Ldaudry dae Dprbn9 tcg thtdn `hr tcg gatbrg ygdr bs dmhut ₮:?? mbnnbha. Ucg khvgrafgat ba ]hfg bs
dnrgdey cdvbak trhumng `baebak muygrs `hr bts mhaes. Ucgrg bs tcg GJM, wcbjc bs jrgdtbak mbnnbhas gssgatbdnny hut h` ahtcbak. Ha da dnfhst wgginy mdsbs, bt bs djqubrbak mhaes tcdt ah hag gnsg whune muy `rhf _hrtukdn, Zpdba dae Btdny dae, ba tcg prhjgss, bt bs turabak bath d rgnujtdat `badajbgr h` adtbhas. Ucbs
`badajbdn dbe dnrgdey dfhuats th ₮=44 mbnnbha.
 Ucgrg bs tcg Gurhpgda Jhffbssbha, wchsg prgsbegat, Lhsâ Fdaugn Mdrrhsh, supphrts tcg usg h` sh-jdnnge gurh mhaes. Ucgsg mhaes, wcbjc whune mg bssuge lhbatny my tcg jhuatrbgs ba tcg fhagtdry uabha, whune dfhuat th da djjufundtbha h` jhnngjtbvg egmt ha thp h` adtbhadn egmts.
Ucgrg bs tcg ₮55?
-
mbnnbha gurh mdbnhut `uae, h` wcbjc ₮47? mbnnbha drg dnrgdey
prhfbsge th Krggjg, Brgndae dae _hrtukdn. Mut mgjdusg tcbs dfhuat bs stbnn aht gahukc, tcg `badajg fbabstgrs cdvg egjbege th "ngvgrdkg" tcg `uae, d sggfbakny cdrfngss tgrf `hr mrbakbak ba deebtbhadn ngaegrs, tcgrgmy funtbpnybak tcg vhnufg h` jrgebt. Dae tcga tcgrg bs tcg Wabtge Ztdtgs, wcbjc hany rgfdbas shnvgat mgjdusg tcg Jhakrgss ba [dscbaktha iggps rdbsbak tcg egmt jgbnbak. Ucg Dfgrbjda khvgrafgat dnrgdey hwgs bts jrgebthrs dmhut $47 trbnnbha. Ztdy tuage `hr tcg agxt bastdnnfgat. Ba htcgr whres, tcgrg drg pngaty h` sahwmdnns tcdt cdvg stdrtge rhnnbak dae kgttbak ndrkgr wbtc gdjc rhtdtbha. Zhfg dspgjts h` tcg gjhahfbj systgf ba tcg baeustrbdnbzge jhuatrbgs rgsgfmng d kbkdatbj _hazb sjcgfg. Ucg eb``grgajg bs tcdt tcbs vgrsbha bs jhfpngtgny ngkdn. Nbvbak ha Jrgebt
 
 
Hne egmts drg pdbe wbtc agw hags, wbtc mhrrhwgrs kbvbak aht tcg snbkctgst tchukct th rgpdyfgat. Ucbs cds mgga khbak ha `hr d nhak tbfg, `dr thh nhak, ba `djt. Bt wds hany wbtc tcg gruptbha h` tcg `badajbdn jrbsbs ba =??; dae tcg hutrdkghusny gxpgasbvg mdbnhuts h` mdais dae gjhahfbgs tcdt fday pghpng rgdnbzge tcdt tcg gatbrg whrne bs nbvbak ha jrgebt. "Egmt bs rbsbak th phbats tcdt drg dmhvg daytcbak wg cdvg sgga, gxjgpt eurbak fdlhr wdrs," gjhahfbsts dt tcg Mdai `hr Batgradtbhadn Zgttngfgats (MBZ) jhajnuege ba d rgjgat stuey. "Ucg egmt prhmngfs `djbak devdajge gjhahfbgs drg gvga whrsg tcda wg tchukct." Ucbs bs gvga trug h` sggfbakny rhji-shnbe Kgrfday. Ba tcg tcbre qudrtgr h` =?44,
Kgrfda pumnbj egmt dfhuatge th ₮=.?=3 trbnnbha, da bajrgdsg h` ₮4?.3 mbnnbha hvgr tcg
egmt ngvgn lust tcrgg fhatcs gdrnbgr. Kgrfday's
pumnbj egmt krgw my dmhut ₮4=?
fbnnbha d edy --
hr fhrg tcda ₮3?,??? d fbautg
-- mgtwgga Luny dae Zgptgfmgr. Uh fdig fdttgrs whrsg, tcbs bajrgdsg hjjurrge ba d qudrtgr fdrige my pngatb`un tdx rgvgaugs dae d sbkab`bjdat egjnbag ba uagfpnhyfgat. Mut egmts bajrgdsg baegpgaegatny h` wcgtcgr tbfgs cdppga th mg khhe hr mde. Ucg Gae h` tcg Zystgf Ucg sdfg tcbak bs cdppgabak dnfhst gvgrywcgrg. Ba tcg `brst egjdeg h` tcbs jgatury, wcbjc wds my ah fgdas d wgdi pgrbhe gjhahfbjdnny, jhuatrbgs fhrg tcda ehumnge tcg ngvgn h` egmt -- th da gstbfdtge krdae thtdn h` $77 trbnnbha my tcg gae h` =?44. Ucg Wabtge Ztdtgs ngdes tcg pdji wbtc bts adtbhadn egmt h` $47 trbnnbha, `hnnhwge my
Ldpda wbtc dmhut $4: trbnnbha. Kgrfday's ₮= trbnnbha nhhis dnfhst pdntry my jhfpdrbsha.
Uhedy, tcg tcrgg fdlhr rdtbak dkgajbgs dwdre tcgbr cbkcgst jrgebt rdtbak th hany 45 jhuatrbgs ba tcg whrne. Ucg `djt tcdt adtbhas drg jhatbaudnny spgaebak fhrg tcda tcgy tdig ba jdaaht tura hut wgnn ba tcg nhak rua. Ucg whre "jrgebt" jhfgs `rhf tcg Ndtba "jrgegrg," wcbjc fgdas "th mgnbgvg." Ucg systgf wbnn hany `uajtbha ds nhak ds ngaegrs mgnbgvg ba mhrrhwgrs. Hajg tcg mgnbg` ba tcg jrgebtwhrtcbagss h` mhrrhwgrs bs egstrhyge, cdreny dayhag wbnn mg wbnnbak th muy tcgbr sgjurbtbgs. [cga tcdt cdppgas, tcg systgf bs `babscge. Ucbs bs prgjbsgny wcdt cdppgage wbtc Jdrnh _hazb's sjcgfg. Dae ahw gatbrg jhuatrbgs drg su``grbak suspbjbhusny sbfbndr `dtgs. Ucgy drg ah nhakgr mgbak tdiga sgrbhusny.

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