00:00Then comes the most intimate form of debt, personal debt, credit cards, student loans, mortgages, car loans.
00:08Everywhere the message is the same.
00:10You deserve it now. Pay later. Don't wait. Upgrade your life.
00:14Debt does not always put people in physical chains.
00:17Sometimes it does something more effective.
00:20It controls choices.
00:21A person in deep debt cannot easily quit, cannot easily protest, cannot easily move.
00:28Debt creates obedience without violence.
00:31The modern economy does not only tolerate debt. It depends on it.
00:35Growth often depends on spending money we do not yet have.
00:39When too much debt builds up, the world becomes fragile.
00:43One interest rate change can shake markets. One default can trigger panic.
00:47And when the system is in danger, who is rescued first?
00:51Usually not the ordinary people.
00:53Debt is the perfect weapon because it does not look like a weapon.
Comments