Debt

I am not drawing conclusions on whether government intentionally creates the environment that enforces personal debt. I see there being three types of debt. Debt by choice, debt by economic necessity and debt by design.

Debt by choice is that would be taken out to buy a new car, not because a new was a necessity, but rather because it meets a desire. Debt by economic necessity I regard as the person borrowing to buy a car because they need it, for example, to travel to a job due to lack of public transport options. Debt by desire I want cover at this stage, because I don’t hold a strong view on it. Debt by necessity I cover in my article “Freedom from costs”