Here's the thing: it's working as intended. I think the intended path is to be so entrenched in debt as to be someone else's problem that either 1) you have to go in on a whacky money making venture together or 2) die and leave all the assets to your children so they can then repeat the cycle on a grander scale. I don't think being debt free is part of the wealthy equation.
Oh definitely. Interest on debt counts as GDP by the US metrics. More debt = more interest = higher GDP. It's why one of the biggest contributors to GDP is the financial sector. The government has a vested interest in keeping as many people under as much debt as possible because it helps their donors make more money and helps "the economy" line go up . This is definitely just more of the same.
Here's the thing: it's working as intended. I think the intended path is to be so entrenched in debt as to be someone else's problem that either 1) you have to go in on a whacky money making venture together or 2) die and leave all the assets to your children so they can then repeat the cycle on a grander scale. I don't think being debt free is part of the wealthy equation.
Oh definitely. Interest on debt counts as GDP by the US metrics. More debt = more interest = higher GDP. It's why one of the biggest contributors to GDP is the financial sector. The government has a vested interest in keeping as many people under as much debt as possible because it helps their donors make more money and helps "the economy" line go up . This is definitely just more of the same.