We are witnessing the foreclosure of the entire world. Ancient people knew that when debt is allowed to grow without restraint, creditors will dominate society at the expense of those who engage in productive activities. When examining the vast indebtedness of nations and of people one should ask three things. Who has that much money to lend? How did they get it? Why do they continue to lend, even though there is no possibility that these debts will ever be paid? In his book
For me, this line is why the system won’t change: “A culture of introspection must form, with each individual controlling his own thoughts and behaviors”. Not only as far as debt goes, but our whole system of government. I don’t believe we have enough individuals capable of these thought processes (at this phase of time) to fully bring on the change needed. I DO think we’ll have the percentage of individuals needed once the system fully fails and crashes. People won’t change the way they think and act until they have to, and right now they don’t have to—it’s not life and death. Yet. It’s a slow death that they don’t realize is even happening. Nothing will change until the pain is immediate.
I did read that a great deal of this debt has already been auctioned off by the government in bonds ,mostly to insurance companies for low interest. The only other offer that is 'You'll own nothing and be happy ' . Not a very good prospect. We all should look after each and 'police' our own areas , rather like the people on some remote islands do .