What Percentage of Your Debt Is The “Usury” Component?
On page 7, The Epoch Times, Canadian edition, January 7 - 13, 2011, Catherine Ford, courtesy of Troy Media authored an article titled “Canadians Complacent About Rising Household Debt” with a subtitle, “The Real Picture Of Debt In Canada May Be Even Gloomier Than We Thought.”
Catherine Ford begins the article with these words: “Welcome to a new year! Although, when you think about it, there really isn’t much to be happy about. Why? Because, as of 2011, each of us now owes about $44,000 to banks, credit card companies and mortgage holders. We’ve maxed out Visa and Mastercard and any other revolving-door lines of credit from lenders who have lured us with promises of a better life if we merely buy the latest toy such as plasma televisions.” (snip)
According to the article, this $44,000. debt load that Statistics Canada claims every Canadian owes to creditors means that the average household debt stands at 148 percent of disposable income.
Since, like Catherine Ford, I do not own a debt of $44,000. - and there are likely many more frugal Canadians who do not have a debt load of $44,000., this means that many debtors are financially enslaved with amounts fo debt much greater than $44,000. This is why the “real picture of debt in Canada may be even gloomier than we thought.”
Catherine Ford states: “Household debt, again according to Stats Canada, now stands at 148 per cent of disposable income.” It is my observation that this statistic demonstrates the evil and immoral aspects of the design flaw of usury. Consider the fact that the function of usury on debt makes it grow exponentially, money after month when outstanding balances are not paid in full.
I am wondering just how much of that $44,000. debt is the usury component that is being exacted by the greedy creditors? I daresay that the amount, if disclosed would be staggering.
Readers are invited to read Catherine Ford’s complete article at this website:
Readers are likewise invited to spend some time at the blog - The UsuryFree Eye Opener reading some background information that is relevant to acquire a better understanding our modern economic system of usury-based, debt money.