Actually, countries are failing because they owe more than they can pay back.
Now I'm no Economist, Accountant or Bookkeeper. But it seems to me that the whole world economy is in dire straits because of Credit and Debt.
To say nothing of small business. Or even the man in the street.
I know the feeling. I've had the experience of losing everything a few years back. All the money, investments, savings. Because of bank overdrafts, customers not paying, high interest rates, sureties etc.
We all need to go back to living within our means, and paying up front for all that we buy.
No more Buy Now, Pay Later. Doesn't work. Cut up the credit card(s).
If you can't pay cash at the supermarket, don't buy it - you don't need it.
After all, you can't get credit at most supermarkets.
They should also pay their suppliers up front. So that those suppliers can pay their suppliers, who can pay their suppliers.
So they can pay their employees, who can then pay cash at the supermarket.
Credit and debt is a viscous circle, with the man/woman in the street paying the ultimate price.
I haven't even touched on Greed and Corruption. That goes without saying. Drives up the Debt levels.
If you can't afford it - don't buy it. You'll manage.
in South Africa.
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