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  • Answer Upon - DEBT - Who is to Blame?

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    economies could not stand a wipe-out. Economies need debt to survive, just as any economy must have an element of unemployment to be sustainable (and I know as I live somewhere with zero unemployment - and it
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    Unfortunately, in todays world, debt in very nearly at endemic levels and is very much a way of life - of which to be fair, the finger cannot be pointed at any one single source to blame, but rather the blame must be shared by all involved to some extent.

    Outside my online businesses, I also run a Financial Services Company - who, I would point out, are not involved in issuing or creating debt, but rather it is a part of our business that we often see it, and how it easily affects lives of many people, to the extent that they become blinded and even apathetic.

    Debt can (and sometimes does) cause absolute devastation - occasionally to the point of suicide in the rare few. We (and I’m speaking from a macro perspective) cannot simply stop debt or right it all off.

    The very fiscal nature of the world means that economies could not stand a wipe-out. Economies need debt to survive, just as any economy must have an element of unemployment to be sustainable (and I know as I live somewhere with zero unemployment - and it

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    must be shared by all involved to some extent.

    Outside my online businesses, I also run a Financial Services Company - who, I would point out, are not involved in issuing or creating debt, but rather it is a part of our business that we often see it, and how it easily affects lives of many people, to the extent that they become blinded and even apathetic.

    Debt can (and sometimes does) cause absolute devastation - occasionally to the point of suicide in the rare few. We (and I’m speaking from a macro perspective) cannot simply stop debt or right it all off.

    The very fiscal nature of the world means that economies could not stand a wipe-out. Economies need debt to survive, just as any economy must have an element of unemployment to be sustainable (and I know as I live somewhere with zero unemployment - and it

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    is a part of our business that we often see it, and how it easily affects lives of many people, to the extent that they become blinded and even apathetic.

    Debt can (and sometimes does) cause absolute devastation - occasionally to the point of suicide in the rare few. We (and I’m speaking from a macro perspective) cannot simply stop debt or right it all off.

    The very fiscal nature of the world means that economies could not stand a wipe-out. Economies need debt to survive, just as any economy must have an element of unemployment to be sustainable (and I know as I live somewhere with zero unemployment - and it

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    astation - occasionally to the point of suicide in the rare few. We (and I’m speaking from a macro perspective) cannot simply stop debt or right it all off.

    The very fiscal nature of the world means that economies could not stand a wipe-out. Economies need debt to survive, just as any economy must have an element of unemployment to be sustainable (and I know as I live somewhere with zero unemployment - and it

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    economies could not stand a wipe-out. Economies need debt to survive, just as any economy must have an element of unemployment to be sustainable (and I know as I live somewhere with zero unemployment - and it’s more a curse than a blessing).

    Instead, we should look to try and tackle this in three ways:

    1. Intensive education to ensure everyone is fully aware of the potential problems associated with and sometimes caused by debt. This could be done by Consumer Groups, Government and especially the institutions behind the debt - Credit Card companies, Banks etc.

    2. Greater restrictions placed on the issuers of debt (Credit Card companies, Banks etc.) to make it harder to people to get into debt in the first place, increased requirements / Due Diligence tests, enforcement of positive action support by these companies as soon as they spot a problem with a customer (get them to help more, rather than threaten action) and independent overseeing of companies with higher than average customer default rates to ensure fa

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