Debt: what is the problem?

In Business, debt is usually a good thing. A business with good debt probably means they are expanding or growing. Obviously bad debt is a different story. I was discussing with someone the other day the idea of debt and why many are advising anyone who can to -GET OUT OF DEBT.

I thought to myself, why would it benefit one person to be out of debt if 10,000 others are crushed by it. All of this inflation, unemployment, economic collapse talk had me thinking. 

So I started to study all of the inner-workings of the first part of the 20th century. I learned how a period of economic ‘boom’ in the 1920’s was followed by a sudden collapse worldwide. I can see parallels over the last 10 years of boom in the U.S and around the world. 

So about the debt. One camp says don’t worry about it, Jesus is coming soon and who cares about paying it back if we are in the clouds of glory…hold that thought.

I am sure many looked at the times in 1929 and following and thought that this must mean Jesus is coming soon. We can see that Hitler came to rise in the early 1930’s (See Demagogy) after he played to the people’s weakness and need for a leader. As we all know Jesus did not come, what if you had been hoping your debt would suddenly not matter? Well, we know what happened…millions were left with nothing as they could not pay off their debt. 

Don’t let this happen to you in your life. We should prepare for all that life can offer and I believe we should look to history to show us what the future will hold. I do not think though that we should be irresponsible. If you have the ability now, work to get out of debt at any cost. The bible shows us that a time of trouble is coming on the earth as never before since there was a nation. The Great Depression was not the end of the world, but those who could see the writing on the wall survived it better than others. 

Be of Good Courage and know that Our Redemption draws near.