Bad Debt Isn’t A New Fear
I love the visual of a sleuth of bears waiving a victory flag
The idea of debt is a very old concept (likely back to 3500 BCE, or earlier) and it has shaped much of the world that we see today. It has helped many parties to grow throughout history, but it’s undesirable forms have destroyed countless others. On a recent trip to Switzerland, I visited a castle that was overtaken in 1536, primarily because its inhabitors were weakened by their crippling debt load.
Just another reminder that while some debt can be advantageous, it’s destructive powers know no bounds.