indebtedness

Can you really have a "voluntary" exchange of indebtedness?No, no, no.

"In the past, we relied on general growth exceeding our indebtedness, "growing" our way out of our debt.

It is a personal choice, but that puts you in a position of indebtedness just when you are starting out on your own.

Hence all that marginally increasing their wage will do is decrease their indebtedness, not increase their spending.

For me this was the 'tl;dr' quote:"It would be absurd to think that governments never have to worry about their level of indebtedness.

[Yet] austerity in the face of gigantic indebtedness .

Bonds created by the "indebtedness" are I think starting points to spending time with people and getting to know them, rather than a friendship in and of themselves.

The proximate cause of the best was, indeed, rising private indebtedness, fueled by the stagnant and falling levels of real wages, and thus real household incomes.

"If real wages and household incomes keep dropping while household indebtedness keeps rising, you will eventually have a financial crisis.

Many advanced economies have witnessed a large rise in household indebtedness over the past two decades.

If you owe people $75 billion, and they owe you $100 billion, you are "$75 billion in debt" by the external-debt statistic, but "$25 billion in the black" by the definition of indebtedness most people use.

They transmuted economic indebtedness for social obligation, by way of the rule of reciprocity.

We should also be careful to distinguish an exchange in a positive-currency, vs one in a debt-currency, which by definition is a trade of indebtedness.

And if debt is the catastrophe waiting to happen that you seem to believe that it is, you will be comforted by the fact that Americans have decreased their indebtedness by over a trillion dollars since 2008.

"We do our best to ensure loans do not cause over-indebtedness by starting with very small amounts initially, and increasing credit limits only if high on-time repayment rates are maintained over time.

...The federal securities laws define an accredited investor in Rule 501 of Regulation D as:5. a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase, provided that the value of a person’s primary residence may not be used for such net worth calculation, but any indebtedness in excess of the value of the primary residence shall be used in the calculation;6. a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year