The rich rule over the poor, and the borrower is slave to the lender. Proverbs 22:7
The principle is clear: when you take out a 30-year mortgage, you are a “slave” to the note holder. When you incur credit card debt and can just pay the interest on that debt, you are a slave to the credit card company.
And when nations borrow exhorbitant amounts from other nations, they too are slaves to the lenders. When many countries are borrowing from other nations, chaos is bound to ensue.
We are on the brink of some very troubling economic times in the country, – no – the world. Pray that God will give you wisdom to plan for the times we find ourselves in.