Quote from: Davidvictorson on November 08, 2024, 09:26:29 AM

Quote from: UTON Blockchain on November 08, 2024, 08:56:35 AM

The essence of modern economics can be summed up in two words: borrowing money. One generation spends, and the next spends a lifetime paying it back.

Let me give a a typical example. My country's government just borrowed money from the World Bank which is running in billions of dollars.They say the loan is to stabilize the economy blah blah blah but honestly we don't need those loans. The first repayment is in 10 years way after the current administration has left office. Obviously I have no faith in the because they are going to divert it into personal coffers and their will be no penalty for it. We don't need these loans. Even the loans are a trap by the World Bank to keep poor countries poor. The next generation is going to spend their lifetime paying back loans.
Here it is - https://www.google.com/amp/s/punchng.com/tinubu-govt-borrowed-6-45bn-from-wbank-report/%3famp

This is also happening in my country, huge loans are constantly being taken, from all sides... the rich are getting richer, and due to rising inflation, everyone else is in a worse and worse situation. Not only will we and the next generations pay back that debt with all interest, but the country will be sold to "investors" with all the resources and other benefits the state provides them (lower taxes, cheaper fuel/electricity, and cheap labor). That's the reality and it's been happening here at my place for years.

And is there a solution? I see only one thing, the system has to change, and to do that, people have to wake up and the collective consciousness has to work... but I doubt we will see that anytime soon.