Debt is only required of systems built around the demand for growth, and that is where our current capitalist system has failed. Constant growth without end, and without any thought to the preservation of resources, is simply and wholly unsustainable.
Our current economy is built around the stock markets, and those markets demand never-ending growth at all costs. If your company cannot promise growth from one quarter to the next, and the next, and the next, then you go bankrupt when all of your investors flee to someone that can give them what they want - free money with no expenditure of work and no productivity. The only thing that keeps a system like ours running is more and more debt, and a system like that will always eventually fail.
What we are seeing now is the last gasps of an empire desperately trying to keep the illusion of prosperity going. Going into debt is not prosperity because it is a form of slavery.
David Icke Forum