Yet seeking where to stand to hoist the slacking continent above his head, a blogger was adamant about one thing: that we are afraid of debt.
I could have doubted him but for the tug of abiding remembrances. And what do you find, among the downtrodden? Just a mere personal debt and we head for the courts.Unlike in the Third, people in the First World live on credit. You don’t have to afford a car to own one, for instance. Nor build a house to live in one. The stranger thing, though, is that we are transferring this personal phobia for debt to our nation’s economy.
In fact, with a total debt stock of $11.7 billion, we are comfortably ensconced at Number 5. With India topping with a mere $22 billion; Bangladesh $81.1 billion, Pakistan $16.4 billion and Vietnam $14.1 billion. Any wonder they are not even among their tigers! But assuming they were, what can a tiger do to an elephant?