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Author Topic: What is Debt?  (Read 6291 times)
greenpath
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January 11, 2018, 02:13:53 PM
 #21

Debt is like an Apple taste bite. Tasting first is good. Then you want more of Apple. Debt is pushing the debtors to do it again nd again until you are in chain of debt. This is sometimes sickness of attitude a harmful habit.
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January 11, 2018, 02:15:58 PM
 #22

To myself that a reading that can increase the science and for myself.
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January 11, 2018, 02:29:41 PM
 #23

Nice article. Unfortunately, people think of debt and use the phrase debt only when money is involved and that is not exactly correct.

Debt encompasses goods, promise and delivery, attention, idea etc but all has the same connotation of paying back.
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January 11, 2018, 08:22:40 PM
 #24

Debt is designed to ruin your life and not to help you, it can ruin your financial status and also your family. As long as you don’t need much the money don’t borrow, or else you will suffer in the long run.
Debt is like addiction for me,it may help you for the main time but make most suffering in the long run.Though there are so many kind of debt,it maybe bad or good depends on how you apply it.Also,it maybe financially debt or a good deed by someone that favorably making u debt in return for example someone save your life,so as we usually do,we have to offer a reward as nature to us human individual or for our logical thinking,we did have a debt on that someone for saving our life.

Debt is something like a commitment to pay money, carry goods or render services under implied consensus or agreement. Applying expected income and future procurement power in the present before it was actually been earned. Debt is something an individual may need to acquire which is very necessary in times of financial hardships and must be address once you have the capacity to pay to prevent additional interest rates from blowing up.

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January 12, 2018, 11:04:45 AM
 #25

Debt is designed to ruin your life and not to help you, it can ruin your financial status and also your family. As long as you don’t need much the money don’t borrow, or else you will suffer in the long run.
Debt is like addiction for me,it may help you for the main time but make most suffering in the long run.Though there are so many kind of debt,it maybe bad or good depends on how you apply it.Also,it maybe financially debt or a good deed by someone that favorably making u debt in return for example someone save your life,so as we usually do,we have to offer a reward as nature to us human individual or for our logical thinking,we did have a debt on that someone for saving our life.
Debt is not really helping anyone, especially when you’re paying with interest. By the way, money didn’t replace the barter system cause there are some things that are still being done through that system, but one question – is Bitcoin a barter system?

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bulantoy12345
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January 12, 2018, 11:21:25 AM
 #26

I found this an interesting interview about the history of money and debt.
 Check it out.

What is Debt? – An Interview with Economic Anthropologist David Graeber

Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.

Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.

Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?

David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
debt in a simple words is something personal,or physical form that you most owed or due to a person or a bank that you must paid in several days or months according to the terms or resolution of the contract.

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Ranly123
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January 12, 2018, 11:32:06 AM
 #27

I found this an interesting interview about the history of money and debt.
 Check it out.

What is Debt? – An Interview with Economic Anthropologist David Graeber

Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.

Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.

Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?

David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.

In my thought, debt is something that you have to pay. With how much the amount you borrow is also the amount of your debt which is compulsory for you to pay.

reyblack
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January 12, 2018, 01:25:52 PM
 #28

I found this an interesting interview about the history of money and debt.
 Check it out.

What is Debt? – An Interview with Economic Anthropologist David Graeber

Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.

Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.

Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?

David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.

In my thought, debt is something that you have to pay. With how much the amount you borrow is also the amount of your debt which is compulsory for you to pay.



For me debt is acquiring something by means of borrowing with terms and conditions. At business it is an obligation to pay, if not sunctions and penalties will be dealt according of what is being agreed by both parties.
sister1001
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January 12, 2018, 01:33:16 PM
 #29

I find it stunning that debt came before money but it makes sense.

Better said debt was used as money before coin was used as money, according to him.

Most surely, a debt can be of many types including economic, honor, gratitude, etc... Basically, If I do a favour to someone it is likely that he has a debt even if it is not explicit nor enforceable. That makes it a tool for commerce.
mxyzptlkof6th
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January 12, 2018, 01:46:19 PM
 #30

I found this an interesting interview about the history of money and debt.
 Check it out.

What is Debt? – An Interview with Economic Anthropologist David Graeber

Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.

Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.

Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?

David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
Very nice website. Debt was not a system that evolved from the bater exchange but rather a natural system of sense when it comes to transactions. It is like a second nature in us that we would feel a little less when someone owes a thing or money from us. From that psychological state, we adapt by making  things equal and fair.
Yzhel
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January 12, 2018, 01:53:19 PM
 #31

I find it stunning that debt came before money but it makes sense.

Better said debt was used as money before coin was used as money, according to him.

Most surely, a debtc an be of many types including economic, honor, gratitude, etc... Basically, If I do a favour to someone it is likely that he has a debt even if it is not explicit nor enforceable. That makes it a tool for commerce.
Debt should not be in our vocabulary and let us not let ourselves drowned to debt, focus on the things that will make us rich and financially free not on those that will put us to mud of debt so use money wisely don't avail credit cards if you cannot control yourself in buying which is not important.

Neerajkumar
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January 12, 2018, 02:08:39 PM
 #32

Debt is the borrowing made from someone and will have to pay it  at some specific time period.It is generally done with the intention to fulfill the needs of the borrower by seeking the help from the lender.
Debt sometimes becomes so vicious that the borrower fails to pay back the money.It creates the problem to the borrower where he finds himself helpless to payback the borrowed money..
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January 12, 2018, 02:21:18 PM
 #33

I found this an interesting interview about the history of money and debt.
 Check it out.

What is Debt? – An Interview with Economic Anthropologist David Graeber

Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.

Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.

Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?

David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
That is a great fact. Well for me, people from poverty lines know much more about debt. Lack of supplies, money and necessity will lead to a debt.
Every people cannot avoid to engage in debt and we cannot control it specially if we have no support or financial source.

sister1001
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January 14, 2018, 10:54:19 PM
 #34

Debt is designed to ruin your life and not to help you, it can ruin your financial status and also your family. As long as you don’t need much the money don’t borrow, or else you will suffer in the long run.

There is a famous speaker, I recall his last name Kyosaki I think. You need to read a bit of this guy because there is good debt and bad debt. There is debt that will make you rich and there is debt that will make you poor.
turagsoy123456
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January 15, 2018, 12:00:33 AM
 #35

I found this an interesting interview about the history of money and debt.
 Check it out.

What is Debt? – An Interview with Economic Anthropologist David Graeber

Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.

Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.

Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?

David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.

Debt is the sum of money that you owe someone... Is an obligation to someone to pay thier debts as an  individiluals who borrow money in any kind. it's either borrow money from your friends, firm,or the state owning something...and etc... A duty or a obligation to pay money. Deliver goods, or render services under an express or emplied agreement.

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January 15, 2018, 12:08:37 AM
 #36

I learned much thanks to the article  Grin

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January 15, 2018, 01:43:08 AM
 #37

Debt is something you borrowed from another person and its make your gratitude low by lending on someone.Lending on banks theres a due or penalties that charges if you cannot pay on the day you promised it.It makes someone lead to poverty as long you can avoid borrowing money stop it and manage your money well to finance your finances.Debt is a duty or obligations in your life if your lack of fianacial resources.
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January 15, 2018, 02:02:25 AM
 #38

Debt is something important that you borrowed for important purpose. Wise debt is a must, do not just borrow for useless things.
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January 15, 2018, 03:21:28 AM
 #39

Debt is when you borrowed money from a person or from a lending company and it have interest in a specific time. You need to pay your debt in the specific time  it alloted because if you cannot pay that time it will increase interest.
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January 15, 2018, 03:22:55 AM
 #40

Great article, it gives a perspective on all of these lies

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