The idea that being in
debt is the modern equivalent to being a
peasant in
thrall to a
liege lord. The most popular form of
serfdom currently seems to be
credit card debt, which is unfortunate, since it usually has the highest
interest rate.
Student loans, car loans, mortgages, and the nascent home equity loan are popular alternatives to plastic.
Don't be a serf. Live below your means, and only take on debt if it'll be profitable.
"When you run in debt, you give to another power over your liberty." -Benjamin Franklin