The only thing goes up is debts! It’s inevitable!

[Broly46]

It has been a long time since the world faced a dangerous pandemic like this. I can't expect everything will be the same as before, especially when this virus has stolen more than 1 million lives. The lockdown is obligatory to save as many lives as we can. I know that the results will make many people lose their job. But as long as we still here, we can build anything with our own hand.

Debt is really a bad thing. It is hard to maintain our living conditions during this circumstance without having a huge debt. Just try as best as you can and I believe you will have what you deserve.

What’s worst is interest rate is finally resting on the ground, ZERO, saving wouldn’t make you any more income, it’s sick, the impact of zero rate, the long term impact, expect it!

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[Broly46]

It is just normal that the debt goes up for every country that is directly affected by the pandemic do have that because not all countries do have a pretty rich economy to support its people most specially on the third world countries for they are lacking of resources and the capability to create ways on how they can have funds as of the moment. There is nothing wrong on having debts right now for we are currently on a crisis and one of the thing to keep up and survive this crisis for the sake of the people is to borrow money that will be paid of course once everything gets back to normal and the country's economy have already full recovered from the recession it experienced during this pandemic.

I hope it’s normal, but none of them look normal to me, because having too much debt could drive people nut, it’s very dangerous.

[Broly46]

^ If you learn how business, finance, and economy works, you will know that debt is not your enemy. And you will know that financial literature and networks are the superheroes. In the situation that we have right now, debt is the best option for the countries to survive.
And I can tell, numbers will only be lowered but never the value. The lockdown in 2008 is nothing compared to today though. The lockdown of today is more centralized and controlled by the powerful people behind the curtain.

Satoshi is right, everything seem to be heading to the direction, there is no returning to normal, it’s challenging to go back to normal life again, the pre 2008 normal life is gone forever and it’s never coming back.

[Broly46]

^ If you learn how business, finance, and economy works, you will know that debt is not your enemy. And you will know that financial literature and networks are the superheroes. In the situation that we have right now, debt is the best option for the countries to survive.

Debt in a national scale is not something a country can avoid, I think the efficient and proper distribution of borrowed funds is the key to utilize the full potential of a national debt.

OP seems to hate having a debt. If you are practical when it comes to finance then you could have avoided one. I do not know your lifestyle but I think it is time to be self aware whether you have the solution or you are part of the problem, stop blaming the government everything that is happening to you.

Debt is the most destructive curse on anybody life, the second being inventory, Tim Cook called inventory “fundamentally evil”, he advocate just in time inventory and successfully turn Apple into single biggest conglomerate in existence. Yup debt is dangerous.

[Sapphire915]

Its the sad truth now. Everyone in this world had been affected with this covid-19 crisis. Due to job loss, some individuals are taking some loans to cover up all the daily spending, especially the bills and the businesses to reopen.
Debts indeed is the only thing that grows larger now. Lending money is our only hope to survive, as we are waiting for the gradual opening of some industries. Even our country's governments has a lot of debts in the world bank now just to give assistance to all the needy, but still not enough to a very populous country. That is why, we also need to strive hard and be productive whenever possible to pay our debts and not be drown totally.

[beerlover]

Developing countries are always developing countries, why do you think no developing country in the past 50 years suddenly became a world power? Almost all world powers have been one for centuries now and that is how it was designed to be. Only few like South Korea became big and China was always big under rulership but they just got better and better economically but they always had political power even when they were poor.

So, the reason why developing countries are affected most is the same fact that during a pandemic rich people get a bit less richer instead of become poorer, while poor people get fired and kicked out of house, they get everything bad happening to them. Simply put, the one that has the money will always work hard to keep that money and they will not share with you.

[NavI_027]

Most developing countries are currently struggling due to the recession and the pandemic, that is why they have huge amount of debts because they need funds to support the financial assistance of their citizens, and support the needs of every hospitals that has COVID-19 patients.

And everything became worse due to mishandling of funds . Like what's happening in our country kabayan, our government still pursue to renovate Manila Bay despite of the pandemic. Don't get me wrong, I'm not against the current administration and also not against such improvement. It is just that doing it is not on a proper timing. Imagine what a P349M can do to aid the infected people or used for buying PPEs and medical equipments tsk.


@Broly46 ~ I know this is your thread thus can do whatever you wanted but I think much better if you compiled your replies instead of making consecutive posts. That is a more proper way of posting. No offense meant dude.

[tyz]

Debts go up and so do asset prices. In principle this development is only bad for those who own cash or Fiat. Sooner or later debts will be offset by inflation and therefore those who hold valuable assets will have advantages, all others will lose. In this point history repeats itself again and again. Unfortunately.

[whyrqa]

Its the sad truth now. Everyone in this world had been affected with this covid-19 crisis. Due to job loss, some individuals are taking some loans to cover up all the daily spending, especially the bills and the businesses to reopen.
Debts indeed is the only thing that grows larger now. Lending money is our only hope to survive, as we are waiting for the gradual opening of some industries. Even our country's governments has a lot of debts in the world bank now just to give assistance to all the needy, but still not enough to a very populous country. That is why, we also need to strive hard and be productive whenever possible to pay our debts and not be drown totally.

Today, the problems are only getting worse due to various reasons, and for example, the national currency is depreciating at a large rate in the country, while the level of GDP has decreased by several percent over the past six months. In addition, the state budget for next year is practically supplemented by loans from the International Monetary Fund, and the situation continues to deteriorate. At least I have a very high hope for cryptocurrency assets as a lifeline in which I have invested my savings.

[Mauser]

Debts go up and so do asset prices. In principle this development is only bad for those who own cash or Fiat. Sooner or later debts will be offset by inflation and therefore those who hold valuable assets will have advantages, all others will lose. In this point history repeats itself again and again. Unfortunately.

I agree, it's a cycle we have seen so many times in the past. A country is piling up debt that is can repay and will eventually default and likely get a new currency in the aftermath. And losers in such scenarios are always the poor little guy trying to save. Asset prices might go up for a long time, but once the currency is worthless it will be hard to sell and find alternatives. The only real alternative to these bubbles is diversifying your assets across different currencies. Crypto currencies are the perfect tool to get out of the FIAT trap. 

[jostorres]

Debt goes up
Misogynist skyrocket due to lock down, (prove me wrong otherwise)
Stock market goes up (according to trump it’s going up everything is good for himself only)

The lockdown was a very bad thing bruh, and I never wish for that repeat itself again. When I see some countries talking about going for another lockdown, I just laughing, like seriously isn’t the last experience enough for them or until their economy crashes to the bottomless pit and their citizens die out of hunger that they are going to learn a lesson? It’s best to look for another alternative than talking about going for a lockdown which will have a serious effect on the economy.

The lockdown makes it more hard to people to earn money and since they have no source of income the government has to do something to help them, and developing countries can’t deal with this easily so to get more funds and to help more people, they have to borrow money from other countries and the cycle of dents continues.

The lockdown is very bad and the worst part of it is that people have lost their jobs just for no reason and now they will start looking for a means to survive. Some people don’t even have enough and they lost their jobs, how exactly are they going to be coping with that?

[Broly46]

 It is normal for countries to have debt, even when you have a business, you will have to have a debt a debt at some point to be able to survive or recover.

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Yup, recovery would take a long time, it would be after the debt stop soaring higher.

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our country's trade balance is always deficit with China, they made an agreement with the Chinese government to use Yuan and Rupiah in trade transactions.

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Currency sanctions has to be the culprit. It’s where bitcoin shine to curb sanction.

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Everyone should know that some countries never witness or notices debt over some period of time because of management of their economy, so generalising it that debt goes up.

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The pandemic amplify the inflation, first it’s QE, next come with zero interest rate policy, also come with zero reserve requirement, any sane person would feel the impact of pandemic, no exception. It’s remote impossible to contest against generalisation didn’t hold up.

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No one's even prepared with this pandemic and I'm pretty sure that most of the countries are also having a hard  time recover from all of the damage that this Covid-19 brought to humanity.

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Nothing was recovered since 2008, it’s getting worse, it might be just a pipe dream to think about recovery.

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if not government then who will pay the expense ? knowing that people on your country depend the most on your government . if your government wont pay the expense thier debt will just rise  and rise up to the point that it wont all be possible to be paid .

 are they going to wait for that moment to happen ?  debts isnt the only thing that is rising but prices of the products are rising as well  . its sad that salary of the poor workers are not included on the rise , this are also the reason why they end up in debt .

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Yup debt is bad enough said.
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I’ve heard the news before about the increasing global debt and it threatens another economic crisis and unfortunately Covid-19 makes the situation more difficult to many country. Imagine those country who are not in a good position before this pandemic, they are suffering 10x right now.

Debt is inevitable, no government has no debt because this is where the money came from and corrupt officials are using this debt for their personal vendetta not all but most of them. The pandemic before and pandemic right now is totally different.

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It’s something news, crisis is long overdue but it’s not coming. Or it might have been over but nobody aware of it because it recovered too quickly, the market recovered from the new low since March to all time high in just less than six months, it’s insanely quick.
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This is true they keep on taking more debt and the result is that not all of them reaches to the final consumer for what purpose they take it. In between there is so much corruption that happen in the countries that only certain percentage might reach to the actual needy. But for government they do worry much because they are in power now and in next it would be somebody else probably so tis their burden to solve crisis etc. Thus, the debt keep on rising and this pandemic has just worsened the situation.

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The impact is unprecedented! The damages is inaccessible. Commence self destruction!

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I won't be surprised that Trump thinks that way. Our country borrowed huge amount of money to other countries we currently have trillions of debt (Philippine peso).

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Covid-19 is really a huge challenge for every countries that has lots of infected cases, except for some counties, that happened to fixed that problem within short period of time. Like China. It started to them yet they had the advantage on the world economy right now, they are really good on handling the pandemic. I hope this pandemic to end soon. It literally made our world economy to decline, but gladly, every country will cope with this and will gradually positively increase their economy.

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The few nations that didn’t advocate lock down, I think they would do well.

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they obviously picked the loan option to bankrupt some other time, some survived but some failed.

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Having debt is fundamentally evil, Tim Cook do not like debt, must eliminate any debt!

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[STT]

Natural dynamics are inevitable, the deviation we make through man made policies, politics and economics is the temporary part.   Either these debts pay off in some way or they are in a kind of soft default which does not adhere to capitalism.   Many people think we will revert to capitalism at some point just because natural laws are greater then humans ability to justify otherwise, we are poorer through QE policies basically.   We dont realise this just yet but it will be part of the overall story eventually.

[The cure]

You can't never compare the years already passed through to the present, in fact we ordinary people do not expect these tragic happening in our world today. We are all new to this experience, only this year 2020 we are experiencing lockdowns, student studies at home and the collapse of the economy due to the bankruptcy of small and large companies. And almost all countries are experiencing debts to save their citizens from this pandemic, and we can do nothing about it.

[lixer]

Its the sad truth now. Everyone in this world had been affected with this covid-19 crisis. Due to job loss, some individuals are taking some loans to cover up all the daily spending, especially the bills and the businesses to reopen.

Taking loans for starting or renewing your business is actually never a problem because you can always pay back with the money you earn with it and considered a good option to invest after the tough covid-19 times everyone needs some help to stand their business up again. The problem when debts starts when you are taking debts just to pay your bills because you are taking loans and buying needs but that will dig a deeper hole because you aren't earning and you are now in the debt as well.

we also need to strive hard and be productive whenever possible to pay our debts and not be drown totally.

I might sound stupid but rather than taking debt I prefer to sell my car, my extra land if I have any and any assets I hold like Gold items I have stored in past because the money collected with these sale means I do not have to pay any interest and paying interest in the tough times is the last thing someone would want to do.

[Mauser]

You can't never compare the years already passed through to the present, in fact we ordinary people do not expect these tragic happening in our world today. We are all new to this experience, only this year 2020 we are experiencing lockdowns, student studies at home and the collapse of the economy due to the bankruptcy of small and large companies. And almost all countries are experiencing debts to save their citizens from this pandemic, and we can do nothing about it.

I don't know about that. For me history seems to always repeat it's self. For example, look at Venezuela or Turkey they are fighting with insanely high inflation numbers. Nothing new, in the past many countries faced similar problems. Or for example grand monther, she saw 5 different currencies in her lifetime. Things might look a bit more stable these days but it's no guarantee that history will repeat itself. In current times we are seeing a crisis roughly every 10 years since World War 1. The common response after such a crisis was to go into debt and try 5o stabilize the economy. So far no country has fully repaid their debt. Its a cycle of increasing debt.

[iv4n]

A debt based economy cannot survive if it doesn't keep growing, most economies are debt based, simply bank creates money by issuing loans! You can read a lot about it, you can even watch documentaries about it, it's not like some secret anymore! Before people didn't know anything about economy (guess what, many people still don't know what is economy, how money is being created, distributed), but people are getting aware of all that! We can thank crypto for that, for opening our eyes! This current (traditional) system is full of flaws, and I always say that we need changes, with internet and crypto those changes are closer than ever before! With internet and crypto we have means to keep the information safe and secured from changes, we don't believe in everything that's served to us from governments and banks!

[BuNga_cute]

It is true that almost all countries have experienced an increase in the amount of debt due to the unstoppable spread of the corona virus.
And the state must go into debt to save the economy, so it is true that increasing debt cannot be avoided. Without being indebted, the state
cannot provide assistance to its people who have lost their jobs, a big disaster that happened in 2020, indeed destroying the world economy.
Hopefully this COVID19 pandemic will end soon, so the national debt will not continue to increase.

[Gibreil]

It has been a long time since the world faced a dangerous pandemic like this. I can't expect everything will be the same as before, especially when this virus has stolen more than 1 million lives. The lockdown is obligatory to save as many lives as we can. I know that the results will make many people lose their job. But as long as we still here, we can build anything with our own hand.

Debt is really a bad thing. It is hard to maintain our living conditions during this circumstance without having a huge debt. Just try as best as you can and I believe you will have what you deserve.

Many countries are underestimated the Corona Virus just like as Italy and USA. They thought that it just as simple as before when influenza pandemic happened. Because they underestimate, the medical system were collapsed and economy declined as well. I think the main reason why every countries were collapsed the economy and fall into debt is unpreparedness of the pandemic. Maybe, this is just an instrument for every country to have preparation when there is catastrophe event. So that we could be fall in debt. However, government has always corrupted officials and they are the ones who push the economy to fall in debt.

[Maroons]

It is true that almost all countries have experienced an increase in the amount of debt due to the unstoppable spread of the corona virus.
And the state must go into debt to save the economy, so it is true that increasing debt cannot be avoided. Without being indebted, the state
cannot provide assistance to its people who have lost their jobs, a big disaster that happened in 2020, indeed destroying the world economy.
Hopefully this COVID19 pandemic will end soon, so the national debt will not continue to increase.

Many countries are not really focusing on how big their debt it because people is more valuable than the country's economy, leaders are willing to accept that their country needs to be in debt in order to save its people and yes it is gonna be hard in the long run because the government will need to increase tax or anything in order to slowly pay their debt once this pandemic ends