The BU family has discussed debt in earlier blogs, BU family Green Monkey member posted the video Money as Debt which presents the dark side about how debt is created and managed in the banking system. Another family member Looking Glass recently sent us the link to the video posted. What BU found interesting in the video was the reference to credit card debt being a key reason why many homeowners had to refinance mortgages. The refinancing placed them in a financially vulnerable position which primed many for the sub-prime debacle which was to follow.
The issue of debt is also relevant at this time of the year because Barbadians will join many around the world by jockeying for ways to increase their personal debt; all of this is in keeping with the spirit of the season!
The video is 55 minutes in duration and BU highly recommend it.





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