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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (78995)	9/5/2011 10:55:28 AM
From: skinowski	Read Replies (2) \| Respond to of 218052

Debt is a fascinating issue. I think there is a intergenerational side to it. Young people have energy and the ability to work; old people have money. At some level the young ones may feel frustrated that they, seemingly, can never become independent of the older folks... Debtors may get a feeling that their creditors, like so many archetypal Shylocks, keep trying to extract their pound of flesh. In Shakespeare's story (in which the creditor is indeed presented as making an unusual and cruel demand), the (young) debtors outsmarted the old lender and left him with nothing. That happens a lot in real life as well, and many people, intuitively, do not find the notion entirely unattractive. When politicians borrow, that's quite a different story, since they can pay back only through forcing others to pay. This opens interesting opportunities for populist demagogues. All they may need in order to gain support and power is to direct the anger of the mob against the "greedy banksters" and any other lenders large and small.