Unsustainable levels of debt

This is an interesting post because it is aimed at folks who would be franchisees.  This is primitive, gut-level, pragmatic thinking on the subject of borrowing for the purpose of starting a business.  It is also quite philosophical.

I must admit I have a soft spot in my heart for this sort of thinking.  One of the reasons I fell in love with the writings of the Midwest progressives is that they took their life lessons from the struggle to get an enterprise (like a pioneer farm) to pay the bills.  From those lessons they formed their political movements.  It is true--the most successful political movements in USA history were created by hard-nosed, flinty-eyed, down-to-earth pragmatists.

On Unsustainable levels of Debt: 

By Les Stewart

There are many, many types of debt.

Financial debt is really only a bit player in the rich theatre of human history. A necessary evil; a loutish relative sent to help us develop our patience and forbearance.

The recent obsession with financial debt overshadows and distorts culturally much more significant types of debt such as: ethical, debt to yourself, moral, educational, spiritual.

Financial debt is a simple matter that is simply a child of contract law.

This type carries NO moral or ethical weight, whatsoever.

Many franchise contracts carry into them a severe imbalance of economic and information power.

Some contracts are entered into with fraudulent intent. more