Looking at the direction this world is going, looking at people's spending habits, have people notice a pattern, especially since the arrival "the credit card" . What amazes me is that a number of people don't truly understand just how bad these credit cards can be if you don't know how to use them properly.
The real danger comes when people are in a situation to use a credit card to pay off another credit card (this will never pay off the debt owed, but will always increase more and more). And how many people today are in so much credit card debt, all because they had to buy stuff, but didn't physically have the means to pay for them?
Remember the days when people can look around in retail shops, and if a customer was to say they were saving up, that was it. Now today customers get offered payment plans or interest free plans to buy certain goods (and these interest free plans are a scam, especially if said payments cannot be met)
Looking at matters from a financial point of view (as we both know, one can buy with money/assets they own, or one can buy on credit), I wonder, can a "Global Currency", especially in the world of digital money, could such a system make a person always in debt? Imagine a system of commerce where people who are buying, are always buying on credit, and never able to pay off the debt incurred?
The real danger comes when people are in a situation to use a credit card to pay off another credit card (this will never pay off the debt owed, but will always increase more and more). And how many people today are in so much credit card debt, all because they had to buy stuff, but didn't physically have the means to pay for them?
Remember the days when people can look around in retail shops, and if a customer was to say they were saving up, that was it. Now today customers get offered payment plans or interest free plans to buy certain goods (and these interest free plans are a scam, especially if said payments cannot be met)
Looking at matters from a financial point of view (as we both know, one can buy with money/assets they own, or one can buy on credit), I wonder, can a "Global Currency", especially in the world of digital money, could such a system make a person always in debt? Imagine a system of commerce where people who are buying, are always buying on credit, and never able to pay off the debt incurred?