Usury part 2

Think of usury as an interest rate that exceeds the annual rate of increase in the GNP (Gross National Product) which is an average. The income of some people increases faster than that and some slower. If your income increases slower than the increase in GNP and you are a debtor, owing money to others at a usurious rate, you are bound to default (fail) at some future date during a downturn in the economy. Even if you borrow in order to make debt payments, you are digging a deeper debt hole from which you won’t be able to escape. As a nation, by allowing usurious interest rates to exist, we are putting the entire capitalist system at risk of failure. In politics, usury leads to an election year like the one we are experiencing this year, where angry voters are voicing their frustrations with the system. Establishment politicians are defending the system while rank and file voters are shouting “enough.”

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2 thoughts on “Usury part 2

  1. I still remember the thought I had when I readi he newspaper when Illinois revoked the usury law that limited interest payments from a max of twelve percent. I thought that now our government joined ranks with the Mafia juice men ranks.

    The people, for the most part, who now pay high interest are as usual the people who can least afford it. I wonder if the concept of slavery was abolished on paper only.

    Regards and goodwill blogging..

    • We are all now wage slaves if we must work to live and eat, and usury is how we become so indebted that we must spend our lives working for those to whom we owe the money. We call them the 1%.

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