Debt is the New Slavery: Most are Slaves But Don’t Know It

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Most people spend their lives working for others, paying off debts to others and performing tasks that others tell them that they “must” do.

These days, we don’t like to think of ourselves as “servants” or “slaves”, but that is what the vast majority of us are.  It is just that the mechanisms of our enslavement have become much more sophisticated over time.

It has been said that the borrower is the servant of the lender, and most of us start going into debt very early into our adult years.  In fact, those that go to university to “get an education” are likely to enter the “real world” with a staggering amount of debt.  And of course that is just the beginning of the debt accumulation.

Over the course of our lifetimes the amount of money that we will repay on our debts is far greater than the amount that we originally borrowed.

In fact, when it comes to credit card debt you can easily end up repaying several times the amount of money that you originally borrowed.  So we work our fingers to the bone to pay off these debts, and the vast majority of us are not even working for ourselves. 

Instead, our work makes the businesses that other people own more profitable.

So if we spend the best years of our lives building businesses for others, servicing debts that we owe to others and making others wealthier, that makes up slaves to two masters, the work boss and financial institutions financing our houses, vehicles and credit cards.

In 2015, the words “servant” and “slave” have very negative connotations, and we typically don’t use them very much.

Instead, we use words like “employee” because they make us feel so much better.

We all have someone that we must obey. And we all have obligations that we must meet or else face the consequences.

At this point, most people are more dependent on the system than ever before.  Small business ownership in the country is low (even though its improving), the percentage of South Africans that are self-employed is still low.

From a very early age, we are trained to study hard so that we can get a good “job” (JOB = “just over broke”) and be good cogs in the system.

Increasingly the way to maintain a working life is through debt.

But is that what life is about?

Is it about being a cog in a system that ultimately benefits others?

Perhaps you don’t think that any of this applies to you personally.

Well, if someone came up to you and asked you what you truly own, what would you say?

Do you own your vehicle?

Most South Africans don’t. The cars they have belong to the bank (until they are fully paid).

What about your home? Do you own it?

Most South African don’t. Majority of houses are owned by the bank. (until they are fully paid).

In fact, overall the banks have a much greater “ownership” interest in our homes and our land than we do.

What about all of your stuff?

Do you own it?

Perhaps you do.

But a very large percentage of us have willingly enslaved ourselves in order to acquire all of that stuff. And if you do not pay off those credit card balances, the credit card companies will unleash the hounds on you. 

We have willingly chosen to collectively enslave ourselves on a personal and national level.

We have enslaved ourselves to more than one slave master so that we can get our salaries, our cars, our houses and our clothes.

Debt is the slavery of the free.

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About Roche Mamabolo

Entrepreneur, Author, Dad. Passionate about Innovation and Creativity, Books, Poetry, Traveling, Theatre, Art, Music.
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