The Web of Debt

Has anyone read The Web of Debt by Ellen Hodgson Brown? I'm reading it at the moment and it's very interesting. It's about how money is manipulated to keep the poor poor and the powerful rich and powerful.

What are your opinions regarding how money and the world works?

I've never read the book, but I am looking forward to reading people's answers.

I'm not really sure the rich intend to keep the poor poor, but I do believe they use their money and influence to help grow their own wealth. However, in this society I would say that anybody has the opportunity to improve their lot and/or become more wealthy. It just depends on personal luck and tenacity. That's probably why I'm not richer. I'm just so lazy! :pinch:

I actually work a lot with debt. My father is a financial advisor, and I've worked in his office before. I've seen how destructive debt is, and how utterly stupid it is to borrow money. I learned a lot about money from Dave Ramsey, so I really have a "no tolerance" policy to any kind of money borrowing. Whenever my friends tell me they are going to put a big purchase on a credit line of some kind, I always cringe. hahah.

I haven't read that book, but it could be a fun read.

My "opinion" about money is this: People would be much freer if they went around debt and just was patient. I imagine there are many scenarios where this just isn't possible. Buying a house would take a very long time if one were to just save up and purchase with cash. It can be done, but it's not practical for many. Of course, medical costs, when insurance doesn't cover, can be extremely horrifying.

For the most part, though, actively avoiding debt is better than jumping head-first into it with glee.

Also, with friends, NEVER LEND YOUR FRIENDS OR FAMILY MONEY. I've seen maybe two situations out of MANY that have gone well with that. If you want to be kind to your family, you can "lend" them money, and if they pay it back, great, if they cannot, just let it go. Make it a gift.

I think, most importantly, saving and giving are the two greatest things you can do with money. Save so you have assets and options; give because you never got anywhere on your own, and the world can use your generosity.

About the rich. I think you're thinking of corporations, not rich men. Some of the richest men in the world, in charge of some of the greatest companies, are the biggest givers. Companies, themselves, tend to just want to maximize profits. And, that can be oppressive to the poor.

Remember, poor is a mindset. It's different than being "broke" temporarily.

*sigh*

I have a lot to say about money. hahaha. Sorry.

I haven't read the book either yet.

Ideally debt would only be used to make money ie things which will go up in value, and not down. Problem is things fluctuate up and down.... so awareness, timing and having a good base of income are foundations to use debt. Plan for worst case scenario's and operate within your safety margins, but act decisively based on your body of knowledge. If you fail, learn what went wrong and try again. I think wealth is accessible to anyone who can get some traction financially and makes the right moves at the right times. Think long term, little steps initially and try not to go backwards too much if you do go backwards.

One thing I was thinking a few days ago is if you dont have a retirement plan early, there is no way your going to retire early.

I have not read that book, but I have taken a Dave Ramsey class, and that guy is great! I used to be pretty wishy-washy with my money, and it got me into trouble. Now, I am much better about budgeting closely, and it has helped me immensely.

However, I also have a TON of debt. Like, more debt than anyone should ever have to deal with. Unfortunately, I allowed my mother to handle all of my school loans when I was in college, and never actually looked at what the amounts were that I was spending on my education. Because of that, I ended up owing quite a bit of money after graduating, and my monthly payment is preventing me from working in theater, which is what I studied. So basically, I am spending so much on my degree that I can't use it. How messed up is that?

Luckily, I am in a very well-paying job right now, but I am so dependent on that job to pay my loans, that even though I make almost double the US national minimum wage, I am still living paycheck to paycheck and struggling to keep even a thousand dollars in an emergency fund for savings.

I have always been an optimistic and hopeful person, but after a couple years of dealing with this debt, even I have been bordering in depression. Until I found this forum, and began my journey on the Jedi path, I was considering seeking therapy, to be perfectly honest. All because of debt... because of money, or the lack thereof.

The day I am debt-free will be the day that my spirit will truly be free again. I would never wish this burden on anyone.

There is nothing wrong about getting therapy. If it helps it's good.

I haven't read the book either . . . .
I am a fan of personal responsibility, cause and effect relationships, self honesty and consequences . . .

All addictions and/or extreme manifestations have similarities . . .

No matter how much one may think there is no way out . . . "there must be another way" changes the nature of the course (a.k.a. forces)

Manu wrote: It's about how money is manipulated to keep the poor poor and the powerful rich and powerful.

I think it's true, but I don't think most rich people know it's going on. But I suspect that there are those few at the top who know how to manipulate, how to scheme, to make sure they keeping making more and more money, which usually comes at the expense of those with less money.

I wouldn't say its the system that keeps the poor poor and the rich rich, I would say it is the mindset of the people you are around. I grew up pretty poor, living in my grandmother's basement sharing a room with my two siblings. Got my own room at 16 when my parents finally got their stuff together and ascended to the working middle class. I was the first one to go to college in my family and although they are of course happy for me and everything, I could sense some underlying resentment in some of my relatives. Unhappy people will try and keep the people around them on the same playing field. The rich stay rich because each generation sets aside enough money to where the next one will not have to worry. It's just up to that next generation to live within their means. That's the key to being happy and not being "poor" if you're not loaded with money. I work full time making only 8 buucks an hour for now, but I keep a roof over my head and stay happy because I know I can't excessively spend. It's all about discipline.

I didn't read the book either. Money is obsolete and debt is slavery. The only things of value in this world are other people and our time together.