The US has the second largest population of indebted people, and US poor people are able to rack up more debt than the poor Indian person. this isn’t just a theoretical exercise either: while basic income will probably happen, i don’t see a global debt jubilee happen. which would mean that everyone in the world would have enough to eat, but people with negative equity would still not be able to live free lives because they’ll be constrained to serving their debt load.

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