The Undebtors: Sworn Enemies of the Vampires of Debt

Those who refuse debt, regardless of the sacrifice, are starving the parasitic, exploitive machine; those with debt are feeding it.

We hear a lot about debtors, and very little about undebtors. I define an undebtor as an individual or entity that has sworn off debt or considers debt a necessary evil that must be paid off as quickly as possible regardless of the sacrifices required to do so.

Undebtors are created by these conditions:

1. People with cultural/familial values that eschew/fear debt.

2. People who have been crushed by debt in the past and refuse to repeat the experience.

3. People who recognize debt as the status quo’s favored instrument of oppression, control and exploitation.

4. People who understand that paying off debt is the easiest way to earn a zero-risk significant return on one’s money.

If you pay off a 12% credit card, that’s the equivalent of earning 12% on your money.

There’s no mystery as to the low profile of undebtors in the mainstream media: undebtors are the equivalent of the cross to the vampire-parasites peddling debt. How can banks and other financial parasites make money off the undebtors? They can’t, and therein lies the problem for the status quo, which lives off the blood of debt extracted from debt-serfs.

The profits skimmed off debt fuel the speculative gambles that benefit Wall Street, and fund the politico lackeys and toadies who enforce the power of banks and Wall Street.

Debt also funds insurance companies and pension funds. Remember, every student loan dragging a starving student into servitude is owned by a pension fund or insurer as a solid, high-yield asset and every subprime auto loan that is extracting a pound of flesh from a marginal borrower feeds Wall Street’s profit machine.

People talk about starving the machine. You want to truly starve the machine? Get out of debt and stay out of debt, regardless of the sacrifices needed to do so. I personally know many immigrants to the U.S. who paid off 30-year mortgages in four years or less. How did they do it?

1. Everyone in the family 16 or older worked.

2. Everyone’s earnings went to pay off the mortgage.

3. No money was squandered on cable, dish TV, eating out, new clothing, costly vacations, etc. Zip. zero, nada.

There was a saying in the 1960s–you’re either part of the solution or you’re part of the problem. Those who refuse debt, regardless of the sacrifice, are starving the parasitic, exploitive machine; those with debt are feeding it.

Yes, I have debt, too, but we are doing everything in our power to pay it off as soon as possible. That’s all anyone can do. But it’s important to do so, starting now.


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  • Jim G

    I was trained to borrow, especially on houses, by the high inflationary environment which – in housing in particular – lasted through about 2006. I think that was about when they started offering big tax breaks for first time buyers. Boy did we do well in housing from the early 70s through 2006. Through the 90’s we could always find jobs, even better jobs, to pay off the debt. Now we have deflation in housing prices continuing at least here in Wisconsin, and the labor market participation rate has been going down rapidly as good jobs disappear. Now debt does not look so good. It is the debt and inflation cycles that are training us all.

  • Dr Smileyface

    Mr Smith writes, “Yes, I have debt, too, but we are doing everything in our power to pay it off as soon as possible. That’s all anyone can do. But it’s important to do so, starting now.”

    So let’s get this right Charles – the way to hurt the 0.1% is to give them money? How about NOT paying off the debt? Wouldn’t that change things more quickly?

  • 10 Investment Quotes To Live By Wednesday, 18 March 2015

    As markets hover near all-time highs, investors have become quite complacent that the current bull market trend will continue indefinitely. But why shouldn’t they? After all, the Central Banks of the world have made it a primary mission to ensure that asset prices don’t fall in order to keep extremely weak economies limping along. Interest rates hover near historic lows, and inflationary pressures are non-existent. Of course, these arguments are used to justify the second highest levels of valuation in history and a market that has set records for the longest stretch without a 10% correction. This time is truly different…right?

    http://streettalklive.com/index.php/daily-x-change/2647-10-investment-quotes-to-live-by.html

  • Strider73

    A year ago we paid off the mortgage ~5.5 years ahead of schedule. Now our only debt is the car loan, at 1.75%. The banksters will not get much out of that.

  • Dr Smileyface

    Is this a bank advert? Sorry, meant to go to Washington’s Blog…

  • Art V

    All I can say is … Dave Ramsey – Debt free and loving it !

  • Deanna Clark

    Yes, I knew many Vietnamese who came here completely broke and lived very frugal lives. They have a strong faith in God and seemed very dignified and even fun loving. But they sure say no to the trinkets and hate debt. However.Gen X, Y and Z…I call them the Starbucks generation. They want it all on credit NOW. I’m a little weary of them laughing at my devotion to the early 1950s lifestyle everybody was happy with in my childhood.