Topic: Not enough debt (Read 671 times)

Yes, economic progress is the main topic of discussion and consideration. All legitimate means for this economic progress should be exploited. We should always take care that whatever we do is done rationally and analytically. That is we should know everything about what to do. Only then we will understand where it is good to take a loan and when it is not necessary to take a loan and our economic development will be possible.

I must agree to him because his right that it's investments, instead of debt, are what actually power economic boom. The essential thing is how correctly money is applied to gain returns and create cost, not simply accumulating more debts. By leveraging funds from shares and loans, agencies can finance operations and boom beyond what they might attain with their very own capital because of this leverage it allows them to adopt formidable initiatives and enlarge their marketplace presence. To this date, the cycle nowadays includes elevating finances, investing in growth, and then paying off debt with the returns generated instead making more debts. As business prevails, they reinvest profits into further expansion and possibly raise more finances, driving endured boom. Therefore, my whole point agrees to this statement is while debt is an effective tool in facilitating funding, strategic use of these investments drives long-term economic success.

Woahh, brooo, I've never been so shocked at someone's mentality. No offense  , but how can you even think in such a manner? You're basically trying to say, everyone should take loans, whether they need it or not, enslave themselves to the people and companies or countries they took loans from and work their ass out to pay, then go through the cycle again. Wow, that sounds like a very meaningful life well spent   . I bet you live like that for the welfare of your country right? You should keep it up. Acquire as much debt as you want and work 2, probably 4-to 5 jobs to pay them off, and watch your country miraculously develop through your hard work  .

Okay, but jokes aside, you should know that what makes an economy grow isn't DEBT, but INVESTMENTS. it's not all about getting money and enslaving yourself, but what you do with that money. You're not totally wrong though, a lecturer of mine once said that a successful business endeavor is actually one that has 80% other people's money and 20% the founder's. I was so confused for so long as to how that made sense. It took me a while to realize that what he actually meant was that,
successful businessmen use shares and loans to make money for themselves and after a while of course, pay off their debt. And yes, the cycle continues, they would still continue to sell more shares, take more loans, and buy more shares, pay off more debt. 

You see, I kinda get what you're trying to say but you would have actually made more sense if you didn't talk about taking 2 jobs to pay off a debt you didn't need in the first place. If you could run 2 jobs at the same time and you were so hardworking, why did you take out a loan in the first place? For the purpose of Economic growth? Nahhh... That's not how it works brother.

The point is that debt is only good if it is used for positive things, if it is only to show off with debt money I think they are stupid people. I have even seen a businessman who was bankrupt but he managed to rise again because of debt, he used the debt money to make his financial life good again, so I think that can be a positive example so that we don't need to be afraid of debt as long as we can use it for good or benefit in the future.

Considering something that we want to do, of course, this is very important because so that we can know the purpose of doing it because without considering it first, it is possible that what we do is detrimental to ourselves and for someone who is improving their financial condition, of course, it will be better to restrain themselves against the lifestyle they have and they must focus on the business they want to develop so that they can achieve success and can also improve their financial condition, But for some people who choose to use credit cards for their lifestyle, of course that person has to work even harder to be able to pay off the credit card bills they have and I agree with you every person who has good knowledge about debt, of course they will not use debt for their lifestyle and they prefer to use loans for things that can indeed be profitable such as to develop Their business is becoming more developed than before.

Rich people are always easier to use whatever they want as long as they have considered what it is for, but for people who are trying to improve their economy through developing their own business, I also think that using credit cards should still be considered unimportant as long as they can still live a more comfortable life without having to increase their prestige in using anything. Because productive people should be smart people who will not use something without any function for their own work so they will not carelessly use any card if its function itself is not much and has no effect on improving our own economy.

I know very well that productive people are less productive if they are uncomfortable with their lives. That is fine for those who use credit cards. However I see some posh people around me who use credit cards just to boost their self-esteem and have no potential to increase or decrease their productivity. So I think for those who do not have any economic development potential from using credit card there is no need or better not to use credit cards.

Debt has never been a motivator, it is a burden that no one wants to be stuck with, people who borrow just because there is no better solution. Those who say debt is a motivator because they want to be more open, reduce pressure on themselves and try harder every day to pay off debt. No one is stupid enough to get into debt and consider it a motivation in life to get ahead.

Regarding borrowing money for business and investment, we should limit and avoid it if possible, IMO. It's not a bad idea if we don't have a better solution, but it's also never a good idea. As I said, debt is a burden and can be a barrier that causes us to fail on our entrepreneurial journey, and even puts our lives at a standstill if our startup idea fails.

What you need to understand to get your head in the right direction is that there are good debts and bad debts. Good debts are the debts you incure from re-investing or expanding your already profitable business venture in order to get more scalable and enjoy better profit margin. Most coompanies  engage in good debts and it keeps them in profitable operation since they take the loans, get good profits and pay back the loan and have a good from ROI most times without touching the funds in their treasury.

While bad debts are those you get to purchase liabilities and finance daily activities which in turn does not generate any revenue for you and I seriously think your argument falls in this category. These kind of debts cages peoples progress and makes them slaves for a very long time since they make money to service debts and not for their own utilities.

Stay out of bad debts as much as you can to live a free and happy life

Do you know about debt traps? You should see how many countries are in debt traps and how these countries end up in chaos. So what is currently needed is not more debt, but how a leader can manage their country's debt and use it for productive things which can improve the economy of their country and make people more prosperous in their lives. Because no matter how much debt there is, if it is managed by a stupid leader, the result is the same as the country will collapse sooner or later.

Disapprove of this, as it's nothing so true, imo. To be debt free you would have worked extremely hard to attain a debt free life in today's society's where life is biting real hard. And it takes a continual hardworking to maintain a debt free lifestyle or economy. It's just that only a little percent of individuals or countries that are enjoying a debt free economy, however, I so doubt if there's any country of the world that is without any form of debt since the world is now a global village with economical interdependence through foreign policies.

That's the importance of managing our finances, we have to be able to control ourselves in terms of expenses and income, try to earn more income than expenses, that way we don't have to look for loans or borrow money from other people for our needs, therefore we have to try as hard as we can. to earn sufficient income for the needs of ourselves and our families.

The emergence of debt is caused by our own excessive prestige, which gives rise to the thought of being in debt to other people in order to fulfill our own needs, it is better to style according to the contents of our wallet, do not force our will if that is what we can afford, be grateful, don't let us appear rich to other people, even though it's all the result of debt.

You are right. Debts should only arise due to some economic factors beyond our control and should not be seen as a motivating factor to work hard, working so hard just to clear up debts is not in anyway a progress made. People can actually do well without neccessarily going into debts, although it requires some high level of discipline and self control to be able to live within one's means, stick to budgets, save and endure too just to avoid getting into debts.

Debts no doubt can be very useful, but deliberately abusing the privilege can also be very disastrous. People just need to try as much as possible to within their means, invest in viable projects and only seek for borrowed funds when neccessary.

I think you are hitting the wrong concept here. Having debts will never make a person highly motivated to work and prosper, but it will only lessen the enthusiasm to work, because everything that he will get from his salary will only go in paying his debts. Seeing that, that's never productive at all. You don't work to live and enjoy the fruits of your labor, but you end up paying them all to get your debts fully paid.

Yes, the world needs debts at some point, but never to the extent of making it a source of motivation so that people won't resort into being lazy and unproductive. It should not be like that, but setting a positive goal should always be the main reason why people should work so hard so they can enjoy their bright future ahead of them.

Let me ask you. You are as a person that is wrote this, did you not function properly as you are not on any debt? Literally, no nation can be debt free because you don't have everything you need and a compromised solution of debt has to be reach to get access to some of those resources you don't have and if you don't, you will be playing with hyper inflation, this is  the reason why you UK are now in another debt and imn not sure if they are indeed debt free in the first place.

I'm addition, I want you to know that we have majority of people that you see that you think are wealthy people don't own some of the assets they claimed. If check and balance is been done to their wealth, trust me 1/3 of their wealth will end up as debt because is either some are been used as collateral for loans, some are been owned by joint business with one CEO and many more, the richer a person is, the complex it's for the person and so it's for even the economy.

Everyone doesn't expect to have debt even though the economic situation is going down, there are many negative factors related to debt because they have to have a fixed monthly income and they have to pay high loan interest, so I also agree that debt is not a motivation to work hard because without debt we are too try hard to earn enough monthly income. Anyone hopes to achieve financial freedom without being tied to debt, so we must take advantage of all work opportunities to increase our income.

However, there are some people who have succeeded in building a business with borrowed capital, but believe me, only some people can be successful with this plan because the loan carries the risk of losing the collateral if they cannot pay off the loan.

Debt can be a burden on a person's life even though he has worked hard but cannot meet his needs. This is because the income earned is not balanced with his expenses.  Everyone certainly hopes to be free from debt so they can have a better life.  I don't agree if debt is an incentive for someone to work hard. This will have a negative impact in the future, the same thing will continue to be done

Dude, you seem to be terrified of debt for investing. Even launching a firm, every economic action is a chance though. Let's get clever about debt rather than panicking over it. One can use debt as a tool rather than only a trap. Good debt is It's energy for your life. It can make you tougher, wiser, and richer. Bad debt? Like junk food, it tastes great now but can cause problems down road

Then quit complaining yourself for debt. Everybody is striving to survive; the economy is a jungle. Debt is simply a component of it. But remember, be smart about it. Don't let it control you. Control it

It depends on the persons capability there are two kind of debts the good and the bad for the bad debts people seeking an liabilities and just use those money for their luxuries things and does return a good profit at all just a casual spending of money for different reason because they are capable to pay off, just to flex to their friends and social media and personal use, in the other hand people doing a good debt which they are creating an additional assets that gives them more money and those created assets are the one who pay for their debt for the long run once they pay off the profit now comes.

However, I don't agree with what you said because going into debt to invest is very risky even if you understand calculations, but in the world of investment, nothing guarantees the correctness of predictions. Meanwhile, we have to pay our debts on time, so if our investment does not go according to plan it will cause you to fail to pay your debts.

So it is very unwise if we go into debt just to invest, unless we go into debt to do business, but of course with the correct calculations. Because business and investment are different activities, investment has big profits but also has big risks, different from business.

Regarding the OP's statement, I also don't agree, by being in debt we are not lazy. This is just a matter of mindset, the fact is that life cannot be enjoyed if there is too much debt, especially if the debt is not for something productive but consumptive.

Investing with debt capital will actually be much riskier for people who do it because apart from having to understand the risks of investing, they also have to understand about paying their debts at the right time so as not to cause more problems in their lives. I prefer not to invest if the money comes from debt, because the money generated through debt will only be more suitable to be placed in a business that is actually running every day and always makes more money every week and month. So it will be easier for us to repay the debt on time without any burden.

I don't think it's that good unless you're trying to take the investment with higher risk which could also pose threat to make you homeless in short time.
as far as I know, these debts have higher interest than the less risky investment out there, so investing in low risky investment is not really a choice.
most people that make it big from the debt always do the risky game.

like borrowing hundred thousand of dollars to short or to long crypto for example, but if things goes wrong and all the money vanished, then we really putting ourselves in hard predicament right here. a matured calculation at the end of the day if there's still risk accompanied, only a speculation.

I believe that being in debt motivates Op to work more so that he will recover the money he borrowed. Working hard is necessary in our lives, whether we have debt or not, how can someone be lazy if they do not have debt? I've never seen such a person before, no one is happy that he or she is in debt unless they need the money for something important and have no other options. Getting a loan to start a business is not a bad idea, but it depends on the conditions of repayment, many people can give a loan, but repayment data is very small. How could a person who invests in a business expect to see a profit in two to three weeks? That is very dangerous because we cannot guarantee that we will make a good profit before the deadline. I hope we don't find ourselves in a situation where we have to borrow money to solve our problems.

Taking debt for investment is actually good because it allows us to get bigger profits, but this also has to be done with fairly mature calculations or calculations because there will be a lot of/big risks that we will face.
Some people have different personalities, but in my opinion it is not good to be in debt unless it is for things that can provide greater benefits.

there's always chance to raise fund from seed funding at the expense of losing some shares which is quite fair, mostly when companies got banrkupt because the product just doesn't work out they are spared from the need to give back the money since it's investment. so even an entrepreneur could be free of debt but moving forward the fact that we already sold our shares of the company will definitely put a dent to our future potential revenue indeed.

Personally I'm one of those people that trying to keep my finance stable by leveraging the use of credit cards, i Just find it a lot more easier to manage too than just spending cash which requires additional calculation, the credit card transaction history already act like a financial manager for me also it can give me good credit score, nothing bad will happen by having a debt as long as you are conscious that eventually you gonna pay these debt so to not overspending it.

Maybe there are some people who, by having debt, will be motivated to work harder so that they can pay off the loans they have and this requires them not to be lazy because they have debts that they have to pay, but there are also types of people who will not borrow if they don't really need it and this really depends on a person's personality.

When you choose to borrow money to make an investment, of course this will be very risky if the investment cannot run smoothly and it is important for you to be able to think about it before actually deciding to take out a loan to invest, because when the investment we carry out is not in accordance with our wishes. Of course, this will cause problems for ourselves.

So you mean that for someone to work harder, they need to be in debt? Because if this is what you meant, then I must say you are wrong because nobody wishes to be in debt. Did you know that debt is never a good thing to be in? The thing is, anybody you see in debt is just that he or she did not have any other option to get the money they want rather than be in debt when you have a problem and you don't have any way to get the finance to solve the problem,

 which I believe is debt that you will take. So stop saying debt makes people work hard; that theory is wrong. And I can’t believe that, although it may be for you, it makes you work hard so you will pay off the debt, for anybody who really wants to achieve what he or she needs, then definitely whether their debt or not, working hard is compulsory. 

With what I understood here is that you mean when we are debt free we tend to be lazy but in this regard I totally disagree with you because people or societies doesn't borrow unless they are in a critical condition which will warrant them to borrow if not they will not if they have it, we are all in need of one or two things in life, no one want to be poor but when we found ourselves there we try to rise ourselves and by doing that we tend to take risk by borrowing to invest to meet our daily expenses. When I have a enough why should I borrow it doesn't make any sense to me unless I want to make an investment.

People can take fewer loans at the personal level but if they want to establish a business and get profit from it as expected they have to take shelter of loans otherwise business can be done only with their own capital but no big business will be possible with only their own capital. And on the other hand there are many people who manage their life through debt such as credit cards. But it is true that it is good to live debt-free but for larger purposes, it may not be good for everyone and many may not want to live it.

Well when the economy is bad, they cut interest rates because they want to stimulate the economy by getting people to borrow money and buy things. So yeah its good for the economy but its not good for the consumer who is forced to repay all that debt. With inflation being as bad as it was in the past few years people have less and less money to pay off these debts and they are in the tight spot.

So sure it was good for the car business or the home builder but in the end the consumer is struggling to make ends meet by finding ways to pay off that debt. And they will make cuts to their spending and some businesses will suffer as a result since there is less money being spent in certain sectors.

Lol, yeah; but I think it can also depend on the country and the people living on it, as I think there are still countries or people which debt is not that high as the others. There are factors that affect them or made them do it and sometimes it can also decline, so I won't be one-sided and say that it can only grow higher in the future.

A debt is a debt, no matter what will you do with it, you will still have an obligation of paying it, so it is still considered as a problem. If we are talking about the debt of the state, of course those who are high in position is the ones who hold it. We can only wish for better days ahead and they will now settle their debts and won't do it again.

You need proof of your theory that more debt can stabilize or maintain economic balance, the opposite condition occurs if there is no debt, it can make people feel lazy about working. So what if you are unable to pay your debt when it is due? You cannot guarantee that life will continue as planned. There are times when undesirable things happen in life such as illness, being laid off from work or family problems that make you unproductive in making money. Then how can you meet your living needs without a regular income, plus the burden of paying debts.

We are always taught to live a disciplined life by adjusting income to expenses and increasing income to live a debt-free life. Being free from debt will make it easier for you to save regularly, even in small amounts, this method can provide benefits for you to help you always be financially secure and when you need it you can immediately take it without having to burden yourself with debt.

I have a friend who told me he doesn't have the drive to work because he doesn't have debts to pay. Having no debt, he feels lazy. He probably shares the same principles with you.

But I don't agree. And it's a ridiculous proposition to encourage more debt. That appears foolish to me. If one is working hard because he/she is buried in debts, he/she is living in hell.

To be debt-free is to live a good life. To work because one enjoys it is to actualize your creativity, your productive potentials as a human being. That would be heaven.

That's not true for everyone because not every person is smart enough to use debt positively and make their lives better. The majority of people who take loans and get into debt end up burdening themselves with more debt every time they need to repay the previous debt because they don't know the useful way of using the debt and how they can generate money with it.

This is the reason why there are good debts and bad debts. A good debt is one that you take and use the money to generate more money and then repay the debt with the money generated without letting it create any problems for you or the lenders. A bad debt is the complete opposite of that, it's a debt in which you take and spend the money uselessly and when the time for repayment comes, you start having problems because you don't have anything to repay the debt while the longer you delay it, the higher the interest would be.

So, it depends on a person and their nature, and debts are not for everyone because not everyone can manage them well.

Exactly, but this is to responsible individuals. Because some people are lazy to the length of which they keep on dwelling in debt. But when debt is taken leveraged debt and not a burden, it makes a lot of sense since it will be used for investment which would make the person that takes it to be more serious and it will also make you double your income. And it is considered smartness because it's not taken for just consumption but for investment.
What matters most while investing is to be careful with the kind of investment you want to engage your self in. that is, you have the knowledge of it. the advantages and it's disadvantages so as you don't fail. Many countries today live their entire life in debt in which if they try to pay off such debt, they will end bankrupt.

One guy but about 200 topics in the economic board. I don't know where to start reading what you have said so far. Your topic and the content of the topic seem to speak different language. If you can explain better i and others may easily understand what you have shared so far. I dont know if it is just me but i dont think i can relate here.

Fire can cook food for you and it can burn your house at the same time. Think of debt as fire that can strike you from both sides. With the proper management of debt and without corruption, a country can be at the next level of economic progress. Just look at Malaysia, singapure, or Vietnam and how they become super giants in Asian economy.

I don't find any connection between lazyness and debt. A person can be hardworking and at the same time debt-free. It depends on that person's mentality and goal in life. Someone can be happy by eating some pizza role 3 times a day and he doesn't want any change in that or someone who wants to establish a business and create more jobs for his community.

OP, what kind of debt are you specifying on? Is it debt for business, debt for pleasure, or bills to pay back?

If it is business debt, I can validate your hypothesis that business debt can make someone hustle harder than being lazy to pay off their debts.

Someone can't be in debt in their business and start lazing about in it, without trying their best to make sure they settle their debt.

Every successful businessman or woman has debts to pay. That debt owed serves as a motivating factor for them because if there's no debt owed, it won't give them the courage to hustle more in their business to make quick profits returns in their business.

Well said. It’s not on the debt that our own economy will improve, but it’s on how we utilize those debts and turn them into things that will generate profits. Debt is bad, but if you use it for a positive cause, bad debt turns into good and beneficial debt.

The world is now crazy about debts and there’s a lot of it that some turns into being mismanaged, leaving the citizens suffering the most due to corrupt and irresponsible government officials that are only after with their personal interest and gains, not prioritizing the people that put them in their respective positions.

And where are we gonna get the money to pay for it?

The thing about debt is that it's only effective when the promise of pay is more prevalent than the contrast. And since the world is going in the shitbox as days go by, we can't say for sure whether getting into more debt to further industrialize and globalize things is still the right course of action. Worst is that it will definitely push said globalization and progress, but since there's no real money to be made in this process banks and other financial agencies will go after their money, further monopolizing property ownership, making things even harder for the average joe.

So yeah, this would've worked in the past but certainly not right now. Every country's hanging on a thread, especially US, China's on the move to make things even worse for everyone, and Russia's pretty much doing the same shit, we're facing a third world war, and things aren't looking bright right now to even assume said globalization through debt programs.

Better to just save money as a businessman and make sure that the moneyflow is intact instead of pushing for greater endeavours at this point.

"UK payd off debt just a few years ago" is utter bullshit and shows you don't really have a clue about what you're talking about. The UK has been in a long term debt deficit for a long time and is nowhere near clearing it, nor do they necessarily want to do so. Being able to borrow money is useful, because you can put it into infrastructure or projects the government things are useful. Debt has nothing to do with how hard people will work and it comes with it's own stresses. Mortgages are probably the best form of debt and anything else when it comes to personal finances should be avoided where possible - things like credit cards, if they are not paid off in full every month, can have obscene rates of interest in comparison.

Debts are no doubts very useful in financing economic projects both for the government and private individuals but if debts financing becomes an option, it should be done minimally because anything done in excess does not give good results. While advocating for more debts, you should be concerned about the personality or credit worthiness of the entity seeking for borrowed funds because such money will solve no problem if the debtor is not credit worthy, so it is better he/she didn't borrow at all. You should also be concerned about the stress that comes with repaying such debts. Such stress can be seen in the government's inability to fund some good social projects and essential services due to large budget deficits. There lots of negative effects that comes with taking debts, especially when the debtor becomes careless with the borrowed funds.

And to the individuals who rely on debts, repaying debts can be stressful also if not managed well. Doing two jobs just to be able to payoff debts is not a good standard, debts should be able to improve one's current status and make things easier. If the negative effect of debts outweighs the good side of it, then you should consider not borrowing at all.

Accessing a loan facility to build a business is good but it depends on the business you want to establish, if it a physical business thats very lucrative it is fine because it involves individuals coming to patronize you and with your profit you can be able to pay back your loan but for you to pay back your loan as at when due, you should discipline yourself in other not to take any more from such business for any other purposes until you conclude your loan payment, some people are indebted because they fail to misunderstanding what repayment of debt is all about, before you borrow, you  should go for a market survey this will enable you to know the particular establishment or imvestment that will grow fast an help you to repay your debt.
I have heard some people saying that they will borrow to invest in Bitcoin but my personal advise has always been that you don't borrow to invest in a volatile asset, despite that it is profitable in the longterm, as an investor you can't be risking two things at the sam time.

Difficulty understanding the meaning you want to convey may have something to do with the language you use. Still from what I see it is related to loans and the level of difficulty to pay them when someone does not have a permanent job. If the loan is not productive then it should not be taken because it will cause problems in the future and many people misunderstand the meaning of the loan.

If it is related to the state, the debt will be imposed indirectly on the people and they will take any taxes. But if the relationship is with individuals taking loans to buy cars, mortgages and so on, it is a mistake. People take loans to increase success in ran business based on in-depth research and after they know the risks they decide to look for a loan.

Starting a business from nothing is difficult indeed but most people fail to do it because they are doing it wrong. People want to own a big business right from the start. Of course that’s not a realistic expectation. First you need to start small and then you get big later on as you gain more customers. Owning a small business don’t look attractive at first because most of them are not making enough money and that’s where people give up. Only if they could survive through it a bit longer, they would be making fat bucks but they don’t know it.

Instead they prefer to be employees and work under somebody else who have the patience to go through all that suffering. That’s why the employees’ suffering last forever while employers get financially independent one day.

There is a big difference, do you mean public debt by the government or private debt owned by each household? First of all, not everybody can be in debt, some has to own all the money lend out. In case we are looking at governments only, than corporations or individuals can own all the debt a country issues. Just look at Japan for example where a large part of the population is happily buying the government bonds, even if they are not paying a lot of interest. And as long as the countries run deficits of 2-5% per year there is no way for debt levels to be reduced anytime soon. Politicians love to spend money that they don't own and are not going to change. On a personal level I would try to avoid debt as much as possible, it's a downward spiral and won't help us in the long run.

To build a business from scratch is very difficult because it requires quite a bit of capital, we borrow or take out debt to start setting up a business, from there we rise. I think from here there are also benefits as long as we focus on what we are aiming for, but remember we have to pay in return. If we still have debt, we have to do more work to be able to pay it off, and that is very burdensome and we have to study at the beginning before going into debt. The fear is that in the middle of the journey our business will stop and what we have done will be useless, and that is the risk.

Right now I am almost debt free and on the contrary of popular belief, having debt is actually a good thing as long as the rates are low. People who hate debt usually don’t know how to use debt properly. If you use debt to grow your assets or business, then having debt can work wonders, especially if you are paying low interest. Only the fools borrow money to buy cell phones or cameras. Even buying a luxury car doesn’t make sense if you are taking a loan for it. If the money you borrow won’t bring you more money than your principle + interest, then your are scamming yourself.

So you are starting to think that debt is a good thing and needs to be created at all times in order to motivate everyone to work because in essence the debt has to be paid again? If you think like that I will be very surprised because you don't see other countries that don't have debt but can still prosper and develop quite well. And you also have to spend more time researching countries that still have debts to find out how these countries can't develop because they still have debts that haven't been paid off.

You need to look at each thing from two different sides and also compare it with several countries so that you can summarize the results that are more appropriate because if you only look at one country that is having difficulty after paying debts it will not be worthy enough to be discussed because in this world there are many a country that has paid off any debts.

If everyone is in debt, who becomes the creditor? Have you thought about that? Sometimes when I realize that most of the big economies are in one form of debt or the other including the powerful US. The question I have been asking myself is who then is the creditor? Maybe I will get the answer from this discussion.

Debt does not make anyone to work harder and anyone who is accustomed to owing will continue to borrow and some even borrow to pay off old debts to enable them continue to borrow. It is never a nice way to live or plan life. Advising someone to borrow in order to work hard is what I consider a funny advise. That is a way of telling them to mortgage their happiness and live a life of stress with no rest. It is more peaceful and glorifying to live debt free and that should be what everyone should pursue.

For me this is wrong, whether it is your hypothesis or not. So you mean a country that has no debt burden will become lazy or an individual who doesn't have to repay borrowed money will become lazy by sleeping all day?

Debt repayment is not the reason that people go to work. They also need to survive in personal fulfilment to that care of present and future needs. It is not about debt repayment but survival in the world's competitive economy, you need so many exigencies that you must over come before you can fit into the economy or survive and to do that you need to in fact increase your daily financial activities and diversify because having just one income resources in a highly inflated economy doesn't take care of bills of the home.

As long as you are a good payer who borrows, I don't think I see any problem with that, but if you can't pay the loan, that is not good, and there is a problem when that happens.
Even if all the countries around the world borrow from their fellow countries, those are their alliances or countries that will trust them to lend.

There are other countries whose economic growth is also rising because of the borrowing they do because they use it in the right way for the benefit of their constituents, such as infrastructure, agriculture, or something like that.

You're telling the opposite to the individual while in fact, it must be the government that should deal with its debt. And as an individual, we must flee from it. Having debt to push and help the economy isn't our job, it's the task of the government to adjust the interest rates so that every individual will see it as an opportunity to borrow when the rates are lower to none. But to push everyone to this, I don't like that idea because I'm trying to set myself free from debt as it's hard to move on when there's debt that you need to think of at all times.

Serviceable debt is fine but due to high borrowing rates pretty much everywhere worldwide at the moment, more debt is only a good thing if the borrowers make their payments every month. The world does not need more debt if it’s at the expense of large amounts of people defaulting. So to be honest I think until rates come down, more debt might not necessarily be a good thing.

It’s funny how you use debt as motivation for everyone to do extra effort in able to earn more than the regular salary.

I’m not sure if pun intended here or just pure inside the box thinking but people will be a zombie if everyone will work like hell just to paid off debt due to the interest it incorporates. It literally advance someone’s life together with the money since the longer the debt means the harder the person should just to earn equivalent money to match debt.

Debt is helpful if you use it the right way but there’s no way it will be use as motivation by general public. 

A lot of countries have a hard time paying what they currently owe and you're still saying that there's not enough debt? Make that make sense because the only thing that would really benefit from debt are those bankers that are controlling who's going to get the debt and who's not going to get it, that's just how it is with debt, even if it does make sense that debt will help your economy, if the debt isn't distributed properly or efficiently, the debt will just become a burden to the people of that country and most of the time, they're probably not going to see the benefit of that debt.

I don't entirely agree with you OP on the fact that, no debt makes society lazy, as a matter of fact the more you accumulated debts, the more you see yourself struggling to pay your debts and the supposed interest that will accrue to those debts, once you're your debt free, you see yourself having enough to take care of yourself and some amount to save for raining days and you wouldn't have to do two jobs just to leave a comfortable life. there is always a saying in the financial sector, that "He who goes Borrowing goes Sorrowing".

If that's what you're really thinking, pretty crazy opinion you got here honestly.

people are already entangled in debt left and right because cost of living is a lot higher, not to mention the housing price crisis that force people to take 30 year fixed mortgage, that's enough debt already.
so many people are already in massive stress due to debt, the people who are free from debt should be given choice to still remain free from debt, not everyone can tolerate the stress that debt gives, often time it can cause health issue too.

your entire statements making me thinks that you letting people overwork will cause economy to grow, but I think it has bigger side effect that could be the drawback of the economy, what happens if depression rate increase? it could correlate to unproductivity.
compensate economic growth through the means of technology to spare people from overworking that's the only way in my opinion.

How? People choose debt when there’s no other option left and it’s not nice wanting such situation just for the society sake, when you mentioned debt make people work harder which I believe everyone can work hard towards achieving their goals without taking loan. Almost everything written is actually not real, how’s everything associated with debt done in your country? because here, a person must provide something important worth the amount you will receive so sometimes most people don’t even get qualified receiving a loan so I will advice everyone should work hard without seeking for a loan.

I’m still trying to understand where you take your theory from that makes you feel like more debt is going to stabilise or keep the world economy in balance and how no debt is making people feel very lazy in terms of working.
 
Those who are in debt to me leave like they are in bondage; in fact, they might even feel enslaved by the people that they are owning. It’s as simple as that, and that’s depressing, and frustration alone can cause an individual's downfall.
 
I know that’s different from how governments handle their own debt, but one thing I know is that being in so much debt will definitely affect the country's economy because you will be required to use money that is meant for other development to service your already existing debts.

I guess this is sarcasm... the debt is higher than ever before, and probably it will be even higher in the future. And many people are in debt, which is less of a problem than the fact that many states and institutions are in much greater debt. This brings us to the main question of who is holding all these debts.

The system is damaged and corrupted to the bones and I don't see the better days without some big changes.

It's actually not advisable to remain in debt but though it you must have to borrow in other to establish productively, so be it.
It's also visible that the aco
Knowledgement of being in debt could inspire a debtor to more hardworking and thriving on clearing their debts.
Being in debt can as well prompt debtors to discover more potnetials around them and so as much as the struggles continues, so also it's potential to increase once values.

So you're saying most of the people in this world is living a debt free life?

If I am not wrong around 10% (max) of the world population can afford to live such life and others has highly dependent on loan for big purchases and that loan itself end their life cycle in a payment cycle trap for 20 to 30 years.

Better try to live debt free is possible and I wouldn't call it as lazy, it's just peaceful life.

World is not enough in debt.
In order to economy Grow the debt is needed more debt we still have people whos debt free If more people get in debt then more economical activity so those in debt will work with 2 jobs not with just one Job.
We moving towards that more and more people will have debt burden on them car leases insurances mortgages and much more things.
UK payd off debt just few years ago and now they struggle.
More debt will make everybody working harder no debt makes society more lazy.