[IAmBroom]

Only partially true. New money definitely comes from Nations issuing debt in the form of bonds, but I've never heard it claimed that my VISA interest adds to the GDP.

> This is part of the reason so many people take on debt. The cultural value is worth more than the monetary value.

That's hilarious. "Why did you spend four years getting a ___ degree?"

"For the cultural value, and to add money to the economy!"

[NishanStepak]

Visa Debt boosts consumer spending by adding to the Gross Domestic Product. People spend money they would not have had access to without credit cards or bank loans. The debt from loans flows to the business which the loan comes from. Also student loans suppress wages because of the need to pay off interest quickly. It is a double edged sword. Debt is a form of control.