Yeah, I mean lots of conflicted feelings. The sense of indebtedness , the sense of also kind of imposter syndrome. Oh, totally. Like, am l really the right person to be in this situation?
They grew and as you put in, central banks would give them support against collateral. So think of excessive indebtedness as a pollutant for the system.
They grew and as you put in, central banks would give them support against collateral. And so the more indebtedness , the better their lives are.
than when you're paying $50,000 a year which is the situation that we have now. It's only been a couple of months since student loan debt crossed over credit card debt as a major source of indebtedness for American families. So a lot of the things that we believe about the value of a college education has this context around it which says well, the college education is relatively cheap. It's a place where post adolescents go, grow and learn
They don't say, I asked my brother to pick me up to go to chemo, and he did. A favor comes with some amount of indebtedness , obligation. We don't feel totally thankful for that.
I think at one level, companies that cater to that to a very value oriented audience do better. At the other level, it just seems to me that you're not going to have--you are going to have this long period of indebtedness either shrinking or not growing very much at all. And if you look at over from early 1980s until now, or especially until like five or ten years ago, a lot of the rise in corporate profitability and in stock prices had at least or partly be related to people taking on more debt and spending more. And
Consumerism was boosted in the '80s '90s and 2000s because of debt. Increases in wages that stopped were replaced by increases in indebtedness . In 2008, our comeuppance came.
And only can win from the upside and otherwise the creditor loses. So the history of banking doesn't have as much indebtedness as banks have today, which is always in the single digit amount of equity, however you measure it. History of banking, if you go back to the 19th century before they had so much support, so many safety nets, is when there were partnerships, the partners
Itís incredibly promising, in fact, thereís this quote by William Gibson, he talks about the futureís here, itís just not evenly distributed yet. One thing that we screen for at Kiva is over indebtedness .
And so they just thought, "Well, okay," what's the obvious thing to do? Well, let's just put the total indebtedness over the GDP, the gross domestic product. The gross domestic product is a good measure of the size of the economy.
up for a Cardon of milk thus for most Americans life becomes a series of debts and dependencies on entities much larger and much more powerful than ourselves the Paradox is this in the middle of such indebtedness and dependence we are bombarded with an apparent array of choices are we not
Well, let's start from the beginning. Why don't we just say add up the amount of debt the US has and use that as a measure of US indebtedness ? It would seem like that's a pretty simple way of doing it.
or whatever it was. >> FOX: Well, I mean, I do think one reason is sort of related to this efficient market idea, which is that--and we've had since the early--this kind of debt explosion, there've been a steadily rising indebtedness from the '30s, but you can just call that kind of a correction of after people had totally freaked out about debt in the Great Depression. But starting in the early '80s, there was this pretty dramatic rise in consumer indebtedness , and it was clearly financed indirectly but
I don't know if Cathy Park Hong wrote about it in her book, in "Minor Feelings". But like I feel there is this sense of, if it's not that, than at least it's this feeling of indebtedness . And I think it's the last essay in her book where she talks about this phenomenon among Asian-Americans where we go into something.
early--this kind of debt explosion, there've been a steadily rising indebtedness from the '30s, but you can just call that kind of a correction of after people had totally freaked out about debt in the Great Depression. But starting in the early '80s, there was this pretty dramatic rise in consumer indebtedness , and it was clearly financed indirectly but nonetheless really by the people from overseas--first, Japan and, later, these broader group of countries.
nonetheless really by the people from overseas--first, Japan and, later, these broader group of countries. And anytime there, you know, there have been books and books written about all the horrible indebtedness of America, and this is terrible, and--I mean, two things would happen to discredit those people. One, the debt levels kept rising and we're okay, and the other was there was an argument, well, who are you to say the smarter than these financial markets which