Aurelius on Nostr: Most important is the success that the finance industry has had in convincing the ...

Most important is the success that the finance industry has had in convincing the populous that prompt debt repayment is next to Godliness. Never before was virtue tied up with debt repayment. But now, people are expected to impoverish themselves, eat twinkies, live in boxes, and sell kidneys to repay debts. A debt that can’t be repaid, historically won’t. And it shouldn’t. Excessive interest is usury, and excessive charges from monopolies that corner people into participating with a one-sided loan, are unjust.

If you default on a loan, perhaps you’re a creep. But perhaps you can’t repay it. And if you can’t repay it, it was a bad loan and a bad business move by the bank.