Pilnmēness nogurdinātie - a kefīriņu negribēji?

From: brookings Date: 4. Janvāris 2011 - 13:57 (Link)

Debt is the problem. The interesting kernel of this debate is to analyse how easy it is for a class/group to create debt (money is created as debt) and then live off this debt. The transference of this debt on to other sections of society needs to be carefully analysed (and yes exposed). Something which, as you know, I don't see happening here in Latvia.

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From: begemots Date: 4. Janvāris 2011 - 14:31 (Link)

I resisted an urge to have a potential debt given to me yesterday, when Stockmann called me to ask, if I wanted their Mastercard with bells and whistles. :)

Main problem with debt in WEU/EEU countries (I mean -- unlike poor parts of Africa, etc.) is that debt is created unneccessarily and willingly by debtors themselves.

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From: brookings Date: 4. Janvāris 2011 - 14:48 (Link)

On an individual level I can partially agree, although I think it is important to bear in mind that as wages in these countries have risen in real terms for a long time now, it is credit that has fuelled the consumer drive. Well, not just 'consumer drive', but also for example, student loans. It is possible your trekky might be having that hang over his head - I don't know.

However, this is all largely superfluous I think, when we look at the billions and trillions of debt being placed on the shoulders of classes of people who did not willingly or consciously take this debt. This is, I think, the main issue here.

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From: brookings Date: 4. Janvāris 2011 - 14:49 (Link)

Where is the effing edit button? "wages HAVE NOT RISEN in real terms" apologies...

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From: begemots Date: 4. Janvāris 2011 - 17:11 (Link)

> when we look at the billions and trillions of debt being placed on the shoulders of classes of people who did not willingly or consciously take this debt. This is, I think, the main issue here.

Quite true.

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