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Debt Forgiveness.
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YouTube video, "Chris Hedges debt forgiveness."
Chris interviews economist Michael Hudson author of, "Forgive Them Their Debts."
How ancient civilisations cancelled debt to prevent an oligarchy, and keep society functioning.
Hebrews also did this with the 50 year Jubilee, as described in Leviticus.
In modern times, German debt was forgiven after WW2, and it worked, "The German Miracle."
Check it out for yourself.
Why can't we do that today, and be happy?
Chris interviews economist Michael Hudson author of, "Forgive Them Their Debts."
How ancient civilisations cancelled debt to prevent an oligarchy, and keep society functioning.
Hebrews also did this with the 50 year Jubilee, as described in Leviticus.
In modern times, German debt was forgiven after WW2, and it worked, "The German Miracle."
Check it out for yourself.
Why can't we do that today, and be happy?
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Er, who exactly is meant to be cancelling debts?
The UK currently owes so much money that it would need every single person in the country (from newborn babies to centenarians) to hand over more than £34,000 in order to pay it off. That money is owed not only to foreign governments and banks but also to those institutions, such as pension funds, which have purchased UK Government Bonds as investments.
The debt could only be cancelled if pension funds ripped up their interest-bearing bonds, leaving millions of people without their pensions. It would also need major banks, across the world, to rip up their bonds too, plunging them into financial crisis, which would then devastate economies (leading to higher unemployment and greater poverty) across the world.
The UK's debt grows by over £5000 every second. While we need to find ways of addressing that (through increased taxation), there's no way that anyone could ever write it off.
The UK currently owes so much money that it would need every single person in the country (from newborn babies to centenarians) to hand over more than £34,000 in order to pay it off. That money is owed not only to foreign governments and banks but also to those institutions, such as pension funds, which have purchased UK Government Bonds as investments.
The debt could only be cancelled if pension funds ripped up their interest-bearing bonds, leaving millions of people without their pensions. It would also need major banks, across the world, to rip up their bonds too, plunging them into financial crisis, which would then devastate economies (leading to higher unemployment and greater poverty) across the world.
The UK's debt grows by over £5000 every second. While we need to find ways of addressing that (through increased taxation), there's no way that anyone could ever write it off.
Does Michael Hudson work for the Catholic Church?
These ladies were shown some extreme benevolence.
https:/
It is ironic that one of the richest ecclesiastical organisations on the planet still preys on the sensibilities of the poor and downtrodden.
These ladies were shown some extreme benevolence.
https:/
It is ironic that one of the richest ecclesiastical organisations on the planet still preys on the sensibilities of the poor and downtrodden.
The Roman Catholic Church is as far away from bible based Christianity as I am from being a billionaire.
Peodophilia, corruption, cruelty, Magdalene Laundries, Ecumenism, responsible for the deaths of millions of people over the time of its existence.
Michael Hudson is a Marxian professor of economics at Harvard.
Peodophilia, corruption, cruelty, Magdalene Laundries, Ecumenism, responsible for the deaths of millions of people over the time of its existence.
Michael Hudson is a Marxian professor of economics at Harvard.
// In modern times, German debt was forgiven after WW2, and it worked, "The German Miracle."//
er and the debt from the british empire wasnt - we have just paid it off
I think this is a well meaning Aber rewriting history so it conforms to modern norms - the whole of the wrecked German industry was moved to Moscow as er unforgiven war reparations (oops!) - and the space left was filled by British stuff which left room for the Brits to buy new and modern stuff
No British miracle
and The German Miracle was the west german miracle
The east germans said they were miraculous but werent ("the only stats I believe are those I have manipulated myself" - the e german economics minister)
on union in 1989 - people wandered around e germany wondering how they had managed to coax 1950s technology to work up to 1989.
the e german economics minister see above boasted that the e german GDP was equal to the UK (1985)
when in fact it turned out to be .... 20%
anyway dont Jews have a day a year when you go around forgiving debts ( not to everyone I think)
er and the debt from the british empire wasnt - we have just paid it off
I think this is a well meaning Aber rewriting history so it conforms to modern norms - the whole of the wrecked German industry was moved to Moscow as er unforgiven war reparations (oops!) - and the space left was filled by British stuff which left room for the Brits to buy new and modern stuff
No British miracle
and The German Miracle was the west german miracle
The east germans said they were miraculous but werent ("the only stats I believe are those I have manipulated myself" - the e german economics minister)
on union in 1989 - people wandered around e germany wondering how they had managed to coax 1950s technology to work up to 1989.
the e german economics minister see above boasted that the e german GDP was equal to the UK (1985)
when in fact it turned out to be .... 20%
anyway dont Jews have a day a year when you go around forgiving debts ( not to everyone I think)
Naomi, I am no economist. It was done in Germany and became known as the German miracle. Their economy outpaced ours.
The Sumerians, Babylonians, Romans and Hebrews had similar arrangements to prevent the many in poverty making the few ultra rich.
This personal debt such as rent or tax arrears, and any debt that is unintended and prevents the damage to society that crushing debt brings.
Watch it for clarity. He and Chris Hedges explain it all.
The Sumerians, Babylonians, Romans and Hebrews had similar arrangements to prevent the many in poverty making the few ultra rich.
This personal debt such as rent or tax arrears, and any debt that is unintended and prevents the damage to society that crushing debt brings.
Watch it for clarity. He and Chris Hedges explain it all.
yeah it is obvious you are nt a economist
but here is an article by someone who is !
https:/
debt forgiveness as a way of getting out of an economic mess - nothing religious about it - oops religion of Mammon of course
but here is an article by someone who is !
https:/
debt forgiveness as a way of getting out of an economic mess - nothing religious about it - oops religion of Mammon of course
review here
Amazon.co.uk User Recommendation
£21 for the paperback - bestseller !
read the review - it kinda makes you want not to buy it nor read it
Amazon.co.uk User Recommendation
£21 for the paperback - bestseller !
read the review - it kinda makes you want not to buy it nor read it
PP - I ask questions and don't have answers, but something stinks.
Capitalism - The poor stand on their own two feet.
Socialism - The poor bail out the rich when their greed has almost destroyed our whole financial system. The rich are so appreciative that they pay themselves big bonuses and the poor are condemned to over a decade of austerity, cuts to services, food banks, homelessness, destitution and misery.
Capitalism - The poor stand on their own two feet.
Socialism - The poor bail out the rich when their greed has almost destroyed our whole financial system. The rich are so appreciative that they pay themselves big bonuses and the poor are condemned to over a decade of austerity, cuts to services, food banks, homelessness, destitution and misery.
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