Paying back our debt

In response to this Guardian story on the economy:

Question: Is now the time to pay off our debt?

Answer: Now is ALWAYS the time to pay off our debt.

It is too late for Keynesian economics. Gordon Brown spent it all during the boom. We are too indebted to borrow and spend our way out of this recession (rather, depression).

We must pay our debt back: public debt and personal debt. Our economy, currency, pride and reputation will be stronger in the long run.

Lets get on with it. Take the pain ourselves, not pass it on to our children. Let the recession hit. Don't be afraid, be creative. Find ways to cut your costs where you need to. Find ways to be more productive in your work. Train yourself. Learn new skills. Work hard. Work smart. Enjoy the free things in life.

And we must learn our lessons:

  1. Debt is bad.
  2. Nothing is too big to fail. Especially banks.
  3. Soaring house prices always end in a collapse. Keep house prices affordable.

Leave a Reply

Your email address will not be published. Required fields are marked *