Debts

It is "natural" to not have any debts. For example whole my life I am trying to live without any loans, if I want something, I just wait until I have the money for it and then I buy it.

But it looks like nowadays we all live (in so called Western civilization) in huge debt. The governments have debts, the people have debts. For example in Czech Republic the governernment have already debt 1,5 trillion CZK (or 1 500 billion CZK) and the Czech families have debts around 1 000 billion CZK. So altogether it is quite A LOT of money.

So there was this discussion about mortgages and I had to laugh. Because I was saying that I cannot imagine that to own a flat I would be paying someone half of my salary for 50 years and then die and still hope that during the 50 years I would have my job all the time... not to mention that you could not afford any vacation, kids, cars, etc, you would just be paying the mortgage.

And one funny fella replied, that if the debt situation is gonna be only worse, it looks like that in 20 years or something there will be HUGE BANKRUPT not only of people but also of governments, and that those who had money would have nothing, and same, the pople who have debts would have nothing also :o). Well I do not know what is the outcome of the state bankrupt and if you have a loan at that time, I only remember, that when my grandma was young, she told me she had some money in the 50s and the other day its value was nothing - like from 100 000 CZK they gave her 1600 CZK of "new" crowns...