By Gary Gach
Debt … that peculiar nexus where money, narrative or story, and religious belief intersect, often with explosive force.
Margaret Atwood, Payback: Debt and the Shadow Side of Wealth
Jubilee has come around this month.* So Deeper Wealth felt it an apt moment for spotlighting debt, if only for a smidgeon. Domestically, not to mention globally, it may be too gargantuan for any single mind to grok. Can a fish even conceive of water? I've created a three-panel triptych for your contemplation:
1. An isolated segment of US debt
2. A civilization that avoids debt
3. Our universal indebtedness
To begin, let's zero in on a relatively small aspect of our national debt: student loans. In America, student debt is now $1.1 trillion. A study from the St. Louis Fed this spring reports the delinquency rate rose from less than one in nine former students a decade ago to over one in four today. Houston, I think ... Log in or subscribe to continue reading.