Debt and The Fall of the Babylon of the East

On the shore of Babylon of the East, the Philosopher claimed "There is nothing new under the sun, there is time to sow and time to reap" or in other words there is time to plant and time to pick up what have been planted.

This country was known as "Babylon of the East." The country has all the miracles that the world can offer, fast car, fast plane, fast yachts, androids machines and even all artificial intelligent (AIs) that can only be a dream of in the past.

Yet, this country is doomed to fail. Why?

As usual "We cannot break good principle, but we can break oneself going against the good principle."

The people in this country are addicted to debt.

"What is debt?."

"Debt is something that a person, owe another person and promised to pay in the future with interest."

Let us look at the debts' of the ordinary citizen in the doomed city.

They borrowed everything, from loan to buy houses, cars, holidays, student's loan, personal loan, medical loan, religious loan and even loans to buy electronics such as "SMART TVs" and "SMART phones." on an installment basis.

As a result, most of them were heavily in debt and is another "paycheck from bankruptcy."

In this country, there are good institutions that champion equality and fairness.
as the debtor is always obliged to the lender.

Their institutions were famous for two words "Insolvent and Bankruptcy."

"Insolvents means unable to pay your expenses as it came due for the month."

"Bankruptcy means unable to pay interest and installments on your debt and declared as someone, who is not creditworthy from the perspectives of court."

We would then ask "Why is debt, so bad?"

Debt is a disease, which "if not stem at the bud, will produce its ugly head."

A debt getting out of control, will be a spiraling debt, with would then act as compounded interest on the debt.

Albert Einstein believed to be the wisest man in the 20th century, have declared "Compounding is the greatest wonder of the world."

If so, try compounding a debt on a credit card and you will know, before soon "that you will be under a mountain heap of debt and  declared a bankrupt."

Debt is not necessarily bad but "Debt is the root of all evil."

However, we must make sure that our income is more than our debt.

Therefore, our debt is serviceable and at all means, make sure our productivity is more than our income so that we are competitive.

Productivity here means products and services that a person produced in a year.

Therefore, "working more than what you are paid for" will produced results sooner or later as coined by Napolean Hill, the father of success motivation.

A strong country would have productivity higher than income and income that is higher than debt.

Back to the doomed city, her people are addicted to debt and they have high income with very low productivity. 

As a result, Babylon of the East has low productivity with debts spiraling out of control in a short span of time.

In the end, Babylon of the East will crumble and the merchant that live adulterously with Babylon of the East will cry of her demise.

Moral of the Story: "There is time to plant and time to pick up what has been planted" and "Teach wise man righteousness and he will be wiser"


Be Bless,

Dr. Lion