Forum Post: Erase the Debt Records. Hit Reset
Posted 13 years ago on Oct. 16, 2011, 9:36 p.m. EST by MikeyD
(581)
from Alameda, CA
This content is user submitted and not an official statement
http://www.youtube.com/watch?v=XkUaV9GZDuk
Who is with me?
Yes, it could be called a Global Jubilee. Forgiveness of debt every 7 years. And if people just can't seem to imagine such a thing because of continual brain washing by the neo moralists, bankers, then just file for chapter 7 bankruptcy and have all your debt wiped away, Why? Because you're unemployed and living in your car and eating at a soup kitchen. And if you can't afford an attorney you can file the bankruptcy documents yourself with a little effort.
i think economist michael hudson (kucinich's advisor in 2008 democratic primaries, and guy on the short list of who called the bubble and why) advocates something like this and has talked about conquerors in the old world forgiving debts of people they had conquered which seemed to happen every other generation or so.
in any case no one in power is advocating this and the results would probably be pretty questionable. if all debt went to 0 then likely few lenders would stick around or be encouraged to lend anymore after that. better have cash when you go to buy your car or house then!
Fight Club fan?
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Lol. Yeah. But the only problem is that Credit is something international. And there are people in other countries that want their money.
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So if you leant your budyl some money, are they now free to not pay?
i can't see your video, but i'm having similar thoughts.
Hula-la! Who said telepathy doesn’t work?
LOL :-)