So in the previous post, I made a short comment about the ridiculousness that we need consumption to keep the economy flowing. If consumption falls, there's a chance the economy falls into recession and people lose their jobs and everyone suffers...
Ever wonder why that's the case?
Think about it.
It's a simple answer...
Debt.
And the whole world is drowning in debt.
Businesses borrow money to buy equipment and produce things. If their products aren't bought, the company closes down, people loses their jobs, banks who lend money loses their money.
When people lose their jobs, they can't pay their debt as well, their home mortgages, car loan, etc. Banks lose money again.
The truth is, there's really only a few items we need for our daily lives, and we don't really need to consume so much. We don't need to waste so much. We don't need to own 120 t-shirts and 20 pairs ...