Is our debt what we want to leave to our children as their i

[Urwrongx1000]

The best bet is no bet, not betting on the next generation.

If an individual works hard over a lifetime, saves $1 mil to leave to his few children, then that means a lot compared to the average person who leaves nothing, or a massive debt instead.

Unfortunately, the short-sightedness that DL is referring, the future generations stand to lose and immerse deeper and deeper into debt that is never planned to be repaid. That’s how slave-nations are formed. The opposite of western “freedom” and liberalism.

If liberals were true to their platform and premise, then they would be most morally opposed to debt and passing off negatives to future generations, than anybody else.

[Greatest_I_am]

@Urwrongx1000

The best bet is no bet, not betting on the next generation.

If an individual works hard over a lifetime, saves $1 mil to leave to his few children, then that means a lot compared to the average person who leaves nothing, or a massive debt instead.

Unfortunately, the short-sightedness that DL is referring, the future generations stand to lose and immerse deeper and deeper into debt that is never planned to be repaid. That’s how slave-nations are formed. The opposite of western “freedom” and liberalism.

If liberals were true to their platform and premise, then they would be most morally opposed to debt and passing off negatives to future generations, than anybody else.

I am a liberal and see conservatives as being the fly in the ointment.

I.E. The U.S. liberals wanted a single payer medical system but the conservatives would rather pass on a flawed and corrupted system.

The same applies to the environment where at present, Trump denies climate change as a problem while the liberals see it as real.

Regards
DL

[Urwrongx1000]

Another form of debt or inheritance:

Does the present and past generations leave behind positive ideals, for future generations, or negative ideals? Does society allow tomorrow’s children and grandchildren to chase empty dreams and mindless pleasures? To be perpetually hooked on drugs, getting high, and shooting up heroine? Is this what the future generations ought to aspire to? If not, then the answer is obvious. Challenges and goals must be set, for future generations, to become something ‘better’ and ‘superior’. Excellence must be taught, and applied.

In this way, again, are the current or recent generations living up to the test? Are today’s generations being left with something positive, an inheritance, or something negative, a debt??

[Greatest_I_am]

@Urwrongx1000

Another form of debt or inheritance:

Does the present and past generations leave behind positive ideals, for future generations, or negative ideals? Does society allow tomorrow’s children and grandchildren to chase empty dreams and mindless pleasures? To be perpetually hooked on drugs, getting high, and shooting up heroine? Is this what the future generations ought to aspire to? If not, then the answer is obvious. Challenges and goals must be set, for future generations, to become something ‘better’ and ‘superior’. Excellence must be taught, and applied.

In this way, again, are the current or recent generations living up to the test? Are today’s generations being left with something positive, an inheritance, or something negative, a debt??

To this Canadian, the answer to your question can be summed up in one word.

Trump.

Regards
DL

[Sanguinus]

@Carleas

Let me put it another way, to more directly address what seems to be the claim of this thread: inherited debt is not prima facie evidence of a wrong to subsequent generations. In many cases the best way to generate value is to take on debt, so the existence of debt can also be evidence of value creation. Indeed, the absence of debt will often be a sign of bad management and under-performance.

The suggestion in this thread is that e.g. the existence of the national debt is evidence that one generation is leaving less to subsequent generations than it might have. But that ignores the fact that debt is generated in exchange for something else, and that something else will often be worth more and generate more value than the debt generates in liabilities.

I completely agree.

[pilgrim-seeker_tom]

Eventually conscience will trump money.

[Greatest_I_am]

@pilgrim-seeker_tom

Eventually conscience will trump money.

Good luck with that.

Regards
DL

[mmhgloba]

If you factor in currency depreciation our debt is actually much more then the denomination number…for example in the last 50 years the USD has depreciated 90% against the Swiss frank. Relatively speaking it is necessary to take the headline number and multiply many times over.

[Greatest_I_am]

@mmhgloba

If you factor in currency depreciation our debt is actually much more then the denomination number…for example in the last 50 years the USD has depreciated 90% against the Swiss frank. Relatively speaking it is necessary to take the headline number and multiply many times over.

I cannot argue against this.

Regards
DL

[Arminius]

Is our debt what we want to leave to our children as their inheritance?

Intergenerational injustice is crime. So “our” debts are crime. At least they are based on criminal activity.

[Greatest_I_am]

@Arminius

Is our debt what we want to leave to our children as their inheritance?

Intergenerational injustice is crime. So “our” debts are crime. At least they are based on criminal activity.

My kingdom for a lawyer who will put such a case before the Hague.

That is what it would take to change perception and even if won, most countries would ignore the ruling.

Faith is to believe without evidence. I have faith that what I just put is a truth.

Regards
DL