In the book Ms. Atwood mentions her Sunday School background and repeating Christ's prayer which in her instance included the words "forgive us our debts, as we forgive our debtors." This is often interpreted as a spiritual debt, but she pokes around in the moral implications of debt and debt forgiveness.
She also points out elsewhere that prior to the invention of credit cards in the early 1950's debt represented just over 50% of income but has grown to over 100%. In one of the reports I heard yesterday it is more like 150%, and that is non-mortgage debt. Because of the current low interest rates Canadians are viewing borrowing as a financial strategy, which to me is a dangerous house of cards just waiting for a puff of wind to blow it over. It feels like buying an item I don't really need, and for which I don't have the money, because it is 50% off. But that may well be what people are doing.
The Bard of Avon has one character offering this advice to his offspring "Neither a borrower nor a lender be; For loan oft loses both itself and friend." So much for that antiquated notion. Borrowing has literally become a way of life for many people. The shadow side of borrowing and debt is bankruptcy, once akin to embezzlement. Not any more, and the stigma seems to have largely dissipated.
Well, I ramble on. What do think about our debt-laden culture? Is "paying as you go" just old-fashioned? Is there a moral aspect to all this? Need a loan?
As a student, debt has become a necessary evil. A part of my reality that is absolutely unavoidable if I wish to pursue any of my dreams. The longer that this trend continues, the higher the number of people that are comfortable with debt will become.
ReplyDeleteAh yes. I have adult children in similar circumstances Jonathan. They have had to figure out how to manage that post-grad debtload while still at school so that it won't be oppressive. It is so tempting to say "oh well" and use everything made available.
ReplyDeleteA good biblical theme is moving from slavery to freedom, and who wants to be a debt slave on graduation, especially making the "big bucks" of ministry!
Great to hear from you.