Another major economic term that most people seem to ignore is debt. Debt however will be the main reason for coming collapse of the global economy. It’s debt which has got this country into this trouble in debt, and it will be debt that will usher us into the next chapter of history. We all analyze our own personal debt we borrow for things like our homes, cars, and credit cards. We believe there to be good debt and bad debt. A big deception taught has been that there is actually good debt. This is false. Its never good to owe anyone. It reduces your net worth and takes away from your amount of control. We kind of understand that about ur personal debt, but most don’t ever think about this point on a global level.

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