Debt is neither a defeat nor death. Also, it is neither a disease nor a devil, in most cases it is a status symbol too.
Coming to realities, debt is an accumulated deficit over a period of time. It is nothing but the inevitable borrowings used for supporting people with health care, education, infrastructure, relief, subsidies, goods and services.
Thus, nations must stop worrying about debt and start working for rising incomes to meet their peoplesí needs and, there is no point in wasting time and resources on debates and discussions since happiness of the people is the real economy of a nation and the mechanism that makes the people happy is called economics, everything else like GDP, Forex, Sensex and Inflation are nothing but traps.
Nori Murthy, Author-Norinomics
Full name: NVSN Murthy, Research Scientist, India
A temporary visitor on earth serving people and nations
|Posted by: NVSN Murthy, Researcher on 23 Oct. 2011|
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