Quote from: Cookdata on Today at 05:28:22 PM

The person that invented debt system is a genuine person but he never put corruption into consideration while making it adoptable by many countries. Any country is entitled to borrow under some conditions that you can only broow when your total generated revenue and production is greater than what you are borrowing, In fact, borrowing morr than 50% of what you country is making in a year is economical suicide but our lawmakers are very corrupt.

What you are borrowing should be for either infrastructure or development and not for embezzlement. I don't know for other countries but money borrowed in my country are been allocated for different projects and I can tell you that most of the funds are been embezzle all the way the top of the high officials to the local project awards, everybody makes sure they eat from this money and after the 4 years, the government end up doing nothing and the next government comes and inherited the next debt.

The problem is the interest, because if you grow your debt too much without paying it, you are just paying interest in billions for your debt, it's not even going against your debt itself, it's going towards interest and that's the biggest trouble both nations and also people personally have trouble with. They take out student loans, and pay it for 20+ years, when in fact they pay it under 10 years, the rest is just interest for having such a long term, or buying a house, you can get as much as 30 year mortgage, when in reality you are paying it a lot quicker, but most of that goes to interest because of how long term it is.

When that's personally, it's a long year when you consider 30 years, but with nations we are talking about debt being reality forever, it' whatever you exist, it never ends, like USA will not be debt free in 30 years, they will have that in 50 too, in 100 too, debt just grows and interest grows too.