10 Year Old Explains Money As Debt

Published on October 14, 2013 by

10 year old Holly explains where money really comes from, why is there so much debt and what it means for you… Have you ever tried to do a jigsaw puzzle but one of the pieces was missing? Well, the financial crisis and all the trouble since then is a bit like that. Personal debt is at its highest level in history. We currently pay £192 million in interest to the banks every single day. Almost no-one under 40 years old can afford to buy a house. Over 2 million people are unable to find work in the UK, and millions more worldwide…

But the government’s ‘answer’ to this crisis is to get people to borrow even more! No matter how many economists are working on the problem, they’ll never solve it because they’re missing the most important piece of the puzzle. But once this missing piece is found, even a 10 year old can understand it.

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