this post was submitted on 24 Sep 2023
730 points (94.6% liked)
Showerthoughts
29648 readers
1143 users here now
A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. The best ones are thoughts that many people can relate to and they find something funny or interesting in regular stuff.
Rules
- All posts must be showerthoughts
- The entire showerthought must be in the title
- Avoid politics (NEW RULE as of 5 Nov 2024, trying it out)
- Posts must be original/unique
- Adhere to Lemmy's Code of Conduct
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Folks aren't even able to get out of debt. Considering debt generally has a higher interest rate than savings, folks are even held back from saving. OP even mentioned that straight out. If you're a disaster away from destitution, you aren't investing money. Money years from now isn't worth more than money today when your bills are due today.
Increasing consumer debt was a policy decision in the 1930 and ever since, to control powerful Labour organisations. An indebted worker is less likely to strike.
Same today for students. Bright optimistic minds out of college are less likely to say ‘hey, there s a better way’ if they are weighed down with debt. .
Totally, debt stifles saving. All rich people are alike; each poor person is poor in their own way, or something.