Concentrated Wealth Is Strangling Prosperity
You know what else is strangling prosperity? Normalization of taking debt. When someone &quot;buys&quot; something using debt, it must be paid for many times over. They usually don&#x27;t end up paying that all on their own, even though they were responsible for taking the debt.<p>For example, when you buy an over valued house with a mortgage, say during a housing bubble, it doesn&#x27;t make sense for you to try and sell it later on for less than you originally &quot;paid&quot; (with your fancy loan). So you are going to hold onto it, waiting for the market to go &quot;up&quot;, so that you can sell it to yet another person who takes out yet another loan to &quot;pay&quot; for this overpriced house. In the mean time, either you or some renter is busting their ass to pay the interest on that unnecessary loan. It&#x27;s completely ordinary for people who who decided not too take a mortgage to get stuck paying the interest for someone who locked a house into debt.<p>This is completely straight forward but when I try to convey how absurd it is, a lot of common sense people look at me like I&#x27;m crazy.  It&#x27;s considered a financially &quot;sound investment&quot; to buy a house and try to sell it higher. Well what if I don&#x27;t want to live in a world where everyone is just playing monopoly all the time? I feel like there are much more interesting and pressing things to do with our precious human time and energy than cater to these ridiculous cycles of debt.<p>And lot of people who take debt because it&#x27;s so &quot;smart&quot; couldn&#x27;t come up with an original exponential function if their life depended in it.