61–70 of 287 posts
There's a reason ancient Judaism included a "Year of Jubilee", where all debts were forgiven every 50 years.
When is the next one?
Earlier quoted context omitted.
> Does anyone actually still believe that these debts will all someday be repayed? I don't understand why you would ask this question. On the individual level its obvious that some debts won't be. It happens all the time for a lot of reasons. So I assume you aren't talking about the individual level. But on the macro level zero debt is a very bad idea and unless civilization collapses there will always be debt. Debt…
> Debt allows people to own homes and cars and pay for education and invest in business. Debt means you are optimistic about the future. How about having homes and cars and education without debt? It's not like you need to be in debt to another and to steal from your feature to have nice things...
The only way a young person could be given a house without owing any debt would be if someone else bought it for them or if the government paid workers to build houses for everyone. However, if the government paid people to build houses without any payments in return the government would be collected the debt which it would then hold. This doesnt reduce any debt globally it just transfers it.
Maybe you could argue it is better for the debt to be on government than individuals but that doesnt address how no debt is good. No debt would just mean zero houses.
Does anyone actually still believe that these debts will all someday be repayed? Does anyone even believe that the amount of debt will go down, rather than up, over the course of any length of time? Even a day? I don't, which raises the question: how does a world where debt monotonically increases indefinitely work? Can that happen forever, in which case debt has just become a standin for currency (that allows people…
Earlier quoted context omitted.
I guess creating more money as you wrote. I believe the government has boosted the economy by giving money to workers to fix things that are not necessarily at the end of life. So to boost the economy by adding more money into the system. I believe it would be a similar strategy.
So hyper inflation is your solution?
Or perhaps this is a measure of the number of debts outstanding, divided per person, but not accounting for assets.
Earlier quoted context omitted.
> Does anyone actually still believe that these debts will all someday be repayed? I don't understand why you would ask this question. On the individual level its obvious that some debts won't be. It happens all the time for a lot of reasons. So I assume you aren't talking about the individual level. But on the macro level zero debt is a very bad idea and unless civilization collapses there will always be debt. Debt…
> Debt allows people to own homes and cars and pay for education and invest in business. Debt means you are optimistic about the future. How about having homes and cars and education without debt? It's not like you need to be in debt to another and to steal from your feature to have nice things...
So, sure, if a few people don't want to have any debt, that's great. But if everyone stopped borrowing we'd be in a lot of trouble.
There are other ideas about how we could grow the money supply of course. Perhaps the Federal Reserve could mail everyone some cash every month.
Earlier quoted context omitted.
> Debt allows people to own homes and cars and pay for education and invest in business. Debt means you are optimistic about the future. How about having homes and cars and education without debt? It's not like you need to be in debt to another and to steal from your feature to have nice things...
I honestly do not understand this perspective and would like to be enlightened. The only way a young person could be given a house without owing any debt would be if someone else bought it for them or if the government paid workers to build houses for everyone. However, if the government paid people to build houses without any payments in return the government would be collected the debt which it would then hold. Thi…
Earlier quoted context omitted.
> Does anyone actually still believe that these debts will all someday be repayed? I don't understand why you would ask this question. On the individual level its obvious that some debts won't be. It happens all the time for a lot of reasons. So I assume you aren't talking about the individual level. But on the macro level zero debt is a very bad idea and unless civilization collapses there will always be debt. Debt…
This reads like a person with Stockholm syndrome, captured by the Federal Reserve system. Money/currency does not have to be debt based. For a lot of America's history, it was not debt based.
How much of the Worldwide debt is secured by collateral?