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John Gianino

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Debt Is not real

The concept of economic loss and debt is firmly emended in society. Do we really owe anything to anyone? I challenge people to argue against the idea that debt exists and state why it does not exist as a test of reasoning and creativity within this forum. I will reply to your comments with my counter argument. Try to remain clear, concise, and cogent in your statements.

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    Mar 10 2013: Of course both exist, Wealth does not have to be monetary to be consider debt or an Economic loss either. It can be any form of wealth loaned or loosed by any individuals or group. Money is a tool to measure wealth and exchange wealth! I understand that you want me to argue against the idea that it does exist. It is like arguing time does not exist.
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      Mar 10 2013: Hi Shelby, how is wealth a topic related to this argument?
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        Mar 11 2013: Wealth is want is actual loaned and loosed, not money. Look at the definition of wealth http://dictionary.reference.com/browse/wealth

        Then Look at the definition of Money
        http://dictionary.reference.com/browse/Money?s=t

        Do you see the difference, you can loan or loss wealth with out money but can't loan money or loss money with out wealth
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          Mar 11 2013: How do you create negative wealth?
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        Mar 11 2013: Wealth can only be destroyed, created or exchanged. You can exchange many different types of wealth for loss or gain. Negative wealth does not exist, this does not mean debt does not exist or economic loss does not exist. Debt is an exchange of wealth and economic loss is the destruction of wealth.
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        Mar 11 2013: Re: "How do you create negative wealth?"

        The absurdity of this terminology often puzzled me. A corporation where I used to work used a term "negative savings" to designate losses. When a store has a 90% discount on a $10 item, they advertise it as "$9 savings". I see it as a $1 expense. Especially if it is some junk I would not buy otherwise.

        Values are based on emotional impulses. They exist only as long as the emotional impulse exists. Therefore, values can be created by words or imagination and likewise disappear on a whim.
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          Mar 12 2013: RE: "Edward, 'experiencing economic loss. . . " Technically. I believe you suffer economic loss any time your net worth is reduced. Christian giving is based on suffering the economic loss cheerfully, willingly, and not grudgingly. Regarding debt, I believe it is a legal issue. If I steal $5000 bucks from John I do not incurr a debt. If we negotiate a loan and he gives me the money based upon our agreement then I do incurr a debt. Transferring possession of currency does create debt unless it is a gift, or a theft.

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