by LeeLee
1 replies
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What would happen if all debt, public and personal, was wiped out for everyone in the world? Everyone starts with a clean slate.
  • Profile picture of the author Dan Riffle
    For starters, thousands of companies would be out of business and their employees would be jobless. Access to capital would be extremely limited. Many retirement accounts would be crushed.

    The real bad side? Most of the people originally crippled by debt would find a way to be crippled by it again.
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    Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.

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