Debt Jubilee

Comments

1. Russ Winter says:

   May 27, 2012 at 1:07 PM PDT

   I have been following your message on the topic of debt jubilee. There was
   an excellent template on this laid out late last year by Boston Consulting that
   I think will give you some ammo to further quantify your argument. The link
   below is to my post on this called “Back to Mesopotamia” that suggests the write
   offs necessary to get back to more sustainable debt levels. It provides
   links to the BC articles.
   http://www.wallstreetexaminer.com/blogs/winter/?p=4984

   The idea now being put forward is that banksters and the very wealthy start
   taking the haircuts on this with wipeouts of their bondholders and equity
   holders. The concept is called “bail in” and was even researched by the European
   Union. In most cases these are defacto nationalizations similar to what
   Iceland did.

   http://www.bondvigilantes.com/2012/05/23/bail-ins-damned-if-we-do-damned-if-we-dont/

   This will also shrink the bloated, parasitic banking sector, which is
   probably now twice the percent of GDP necessary for a properly functioning
   economy (see economist Steve Keene on this). Of course the elite kleptocrats are
   fighting it tooth and nail.
2. Henry says:

   May 27, 2012 at 7:06 AM PDT

   Love the image.

   One suggestion about this new blog format though: this post for example, you can only see ‘…’ before you click on read more. That sorta sucks. That image would look awesome on the blog page – should be there without having to click on anything.

   Again the new blog is rad don’t change a thing but those Read More links gotta go! They’re only good if the article is REALLY long – I don’t like seeing Roseanne’s words cut off – ha!