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Is this the time to initiate a worldwide debt Jubilee.
It would be a way of wiping off the many, many trillions worth of debt that manacles countries and its citizens.
There is way too much debt to be repaid and certainly not enough physical cash to wipe it out.
Granted, those entities who hold nations and its citizens in penury would have their rugs swiped from beneath them but who the f%ck would give a damn?
Businesses, small , medium to large and corporations would be debt free and thus in a position to rise from the ashes of a coronavirus bonfire.
It will, might, take 12 months or more for companies and entrepreneurs to even begin to recover from this unfolding apocalyptic landscape.
Let's offer them all a chance to recover quickly, for the economy to grow faster and stronger without having to wait for so-called 'green shoots' that may turn out to be weeds in a few years time.
Put money into citizen's pockets in order they might help stimulate the economy.
Wipe off ALL debts that have companies big and small speculating whether they will be able to trade successfully or at worse fold altogether dumping honest and hard working people onto a Universal Credit scheme that's both humiliating and ineffective.
This is a perfect time to press the 'reset' button?
It would be a way of wiping off the many, many trillions worth of debt that manacles countries and its citizens.
There is way too much debt to be repaid and certainly not enough physical cash to wipe it out.
Granted, those entities who hold nations and its citizens in penury would have their rugs swiped from beneath them but who the f%ck would give a damn?
Businesses, small , medium to large and corporations would be debt free and thus in a position to rise from the ashes of a coronavirus bonfire.
It will, might, take 12 months or more for companies and entrepreneurs to even begin to recover from this unfolding apocalyptic landscape.
Let's offer them all a chance to recover quickly, for the economy to grow faster and stronger without having to wait for so-called 'green shoots' that may turn out to be weeds in a few years time.
Put money into citizen's pockets in order they might help stimulate the economy.
Wipe off ALL debts that have companies big and small speculating whether they will be able to trade successfully or at worse fold altogether dumping honest and hard working people onto a Universal Credit scheme that's both humiliating and ineffective.
This is a perfect time to press the 'reset' button?
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All Debt leif?
So those who don't have a gold plated public sector pension but have £300k in "safe" UK/USA/"Germany bonds will lose the lot? Are those whose pension funds have invested in banks which have loaned their government a hundred billion or so are in an "interesting " position. Sounds a vote winner to me? |
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Historians have counted around thirty episodes of general debt cancellations from 2400 to 1400 BC, noting they were occasions of great festivity which often involved the physical destruction of the tablets on which liabilities were recorded. One of the most famous episodes of debt forgiveness comes from ancient Babylon (modern-day Iraq). In 1792 BC, the self-proclaimed King Hammurabi of Babylon forgave all citizens' debts owed to the government, high-ranking officials, and dignitaries."
"Debt forgiveness was also practiced during the time of the Old Testament. In Jewish Mosaic Law, every seventh Sabbath year saw the wiping away of all debts, where creditors cancelled all the obligations of their fellow Israelites. Every 49th year (seven Sabbath years) was the 'Year of the Jubilee' when freedom from all debt and servitude was proclaimed throughout the land." |
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Speculators might be wiped out but good riddance in my opinion.
Naturally, it would be counter-intuitive to render those people who had investments in pension schemes and who were those most vulnerable to detriment, should be protected for obvious reasons. The George Soros types of this world  wouldn't be missed |
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Leif
Much of the debt is owned on behalf of individual pension plans. £300k might seem a lot of money & you might like to see that individual lose it all but do you know how much/little a 65 year old would get a year if bought an index linked annuity for £300k. How exactly you you choose who keeps 100% of their money & who loses 100%. What about big businesses who have debt - there are companies who are worth billions on stock exchange with CEOs earning millions, you should just wipe out all their debt? Would you write off all mortgage debt & let the "owners" keep the house even if they have only paid for 10% of it & can afford mortgage repayments. |