Debt

Paraphrased from The Daily Reckoning

“The banking industry has done a great thing, says an economist from the American Banking Association. By encouraging people to borrow against their houses it has helped people "free up non-liquid assets." In 2005, they helped people "free up" $200 billion worth of non-liquid assets.

Surely, they should get a Nobel Peace Prize for that! Imagine all those poor people who have been liberated from their own houses. Last year, they owned a roof over their heads, or a "non-liquid asset." Now, they own last year's hit CDs and have fond memories of last year's vacations in Las Vegas. Of course, they now have a deeper, more meaningful relationship with a lending institution, too.”

A long time ago, banks depended on your savings to operate their business. Not any more, now they depend on your indebtedness. And they are eager to help you have as much as you want.