No credit? No problem. Around the world, some cultures maintain financial stability and independence without conventional, Western-style credit and debt systems.
So much emphasis is put on material wealth in society. The media that people are exposed to constantly reinforce a message that money and possessions are key to happiness. Money drives all human activity and wealthy people get ahead with more influence and power. But now even that narrative is crumbling as we see what all that wealth has done to our leaders; how it's corrupted our true loving nature. Paradoxically the wealthiest seem to be not too happy and are still trying to get more and more. But I think young people today are being targeted to accept a life of debt-driven slavery as the whole unsustainable system collapses and the ones on high will try to save themselves.
Barter can not work without credit (trust) As the coincidence of wants is too strong of a factor to base an economy on perishable goods and no price mechanism to accurately value services. However, with credit (and not necessarily interest) it is possible, but only within a very high trust society
Fantastic article! This is one of my favorites. Short, practical, hopeful, and punchy :)
Love being exposed to common sense practices from other communities across the globe. The "globalism" of these ideas is wonderful (as opposed to the many negatives of modern globalism).
We have people that are suckered into believing the hype of high cost education. The students have been convinced that going to an expensive school will just magically lead to the best jobs for basically the same effort. Employers are convinced that a student coming from a prestigious school have a better education. It is mostly nonsense. Don't get me wrong. There are some star students recruited to prestigious schools. They are as small of a population as the star athletes that they recruit for their sport teams. They are not paying the high price tag of attendance. The ones paying the bills are the mediocre and poor students that want to be mistaken for the star students.
Once they get out of school (Hopefully once having graduated. Most don't.) they want the lifestyle of people who have worked all of their lives. Not to mention that they have been programmed by media and advertising to think unrealistically as to what that lifestyle is. The nice place to live, nice car, vacations, going out to eat, clothes, and everything else. Instead of waiting until they can afford it, they are willing to go into debt. The lenders don't care if they fail because they can keep ahead of the losses by raising the rates. The borrowers don't care because they don't realize that they are paying double and triple the price for things to finance them. Well, at least until they get a rude awakening to the level that they are overextended. They are lulled by the belief that they can afford it until they suddenly can't.
They choose their housing based on the assumption that they will always have a job and they will keep raises in their pay. They throw money away buying depreciating assets. They buy the nice fancy car that will lose all its value before it is even paid for. That is assuming that they didn't lease and have nothing at all to show for the money they spent. And lastly, they make purchases to impress people and the only ones who are impressed are the other people stupid enough to buy things to impress them.
There are a lot more ways that people buy into the scams. Take auto and home insurance for example. The brunt of the cost is payed by the poor. Take a drive along the coast and look at all the nice new buildings. Your insurance premiums make that possible. They are nice and new because the old ones keep getting destroyed and rebuilt from the insurance premiums that you are paying. A large percentage of the higher prices you pay for goods are due to people that want to feel good because "They Care" and have made it safe for criminals. Don't just think that because it happens somewhere else that it doesn't affect you. The companies just pass the costs on to you either directly or through your insurance premiums.
So much emphasis is put on material wealth in society. The media that people are exposed to constantly reinforce a message that money and possessions are key to happiness. Money drives all human activity and wealthy people get ahead with more influence and power. But now even that narrative is crumbling as we see what all that wealth has done to our leaders; how it's corrupted our true loving nature. Paradoxically the wealthiest seem to be not too happy and are still trying to get more and more. But I think young people today are being targeted to accept a life of debt-driven slavery as the whole unsustainable system collapses and the ones on high will try to save themselves.
very interesting examples! Thank you.
Barter can not work without credit (trust) As the coincidence of wants is too strong of a factor to base an economy on perishable goods and no price mechanism to accurately value services. However, with credit (and not necessarily interest) it is possible, but only within a very high trust society
Fantastic article! This is one of my favorites. Short, practical, hopeful, and punchy :)
Love being exposed to common sense practices from other communities across the globe. The "globalism" of these ideas is wonderful (as opposed to the many negatives of modern globalism).
We have people that are suckered into believing the hype of high cost education. The students have been convinced that going to an expensive school will just magically lead to the best jobs for basically the same effort. Employers are convinced that a student coming from a prestigious school have a better education. It is mostly nonsense. Don't get me wrong. There are some star students recruited to prestigious schools. They are as small of a population as the star athletes that they recruit for their sport teams. They are not paying the high price tag of attendance. The ones paying the bills are the mediocre and poor students that want to be mistaken for the star students.
Once they get out of school (Hopefully once having graduated. Most don't.) they want the lifestyle of people who have worked all of their lives. Not to mention that they have been programmed by media and advertising to think unrealistically as to what that lifestyle is. The nice place to live, nice car, vacations, going out to eat, clothes, and everything else. Instead of waiting until they can afford it, they are willing to go into debt. The lenders don't care if they fail because they can keep ahead of the losses by raising the rates. The borrowers don't care because they don't realize that they are paying double and triple the price for things to finance them. Well, at least until they get a rude awakening to the level that they are overextended. They are lulled by the belief that they can afford it until they suddenly can't.
They choose their housing based on the assumption that they will always have a job and they will keep raises in their pay. They throw money away buying depreciating assets. They buy the nice fancy car that will lose all its value before it is even paid for. That is assuming that they didn't lease and have nothing at all to show for the money they spent. And lastly, they make purchases to impress people and the only ones who are impressed are the other people stupid enough to buy things to impress them.
There are a lot more ways that people buy into the scams. Take auto and home insurance for example. The brunt of the cost is payed by the poor. Take a drive along the coast and look at all the nice new buildings. Your insurance premiums make that possible. They are nice and new because the old ones keep getting destroyed and rebuilt from the insurance premiums that you are paying. A large percentage of the higher prices you pay for goods are due to people that want to feel good because "They Care" and have made it safe for criminals. Don't just think that because it happens somewhere else that it doesn't affect you. The companies just pass the costs on to you either directly or through your insurance premiums.