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If most countries are broke, then Planetary Bankruptcy would be good?

By KILLERJANE   Follow   Fri, 1 Jun 2012, 11:04pm   932 views   5 comments
In Burbank CA 91502   Watch (0)   Share   Quote   Permalink   Like   Dislike (1)  

Can't the whole planet just default and go bankrupt already? Let's start over, I mean it's all getting a little too shock and aww, over and over and over again.

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1. Auntiegrav Follow Befriend (5) 7 threads 228 comments Belgium, WI Premium

   1   5:06am Sat 2 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   Debt is a promise to burn resources to create wealth to replace what is borrowed. In that sense, a planetary bankruptcy is an erasure of the promises for growth and prosperity that we have been living on. Basically, a planetary bankruptcy is admitting that capitalism is a failed social idea. It results in frugality, austerity, localism, and reality. Nobody wants to see that sh.t... Whether or not it's what they need to do is irrelevant in the human imaginary model of the universe.

2. futuresmc Follow Befriend (1) 1 threads 387 comments Buffalo, NY

   2   2:04pm Mon 4 Jun 2012   Share   Quote   Permalink   Like   Dislike   The problem is who holds the debt. Those that are 'owed' are the wealthy and connected. Those that 'owe' most of the debt are not. The powers that be always side with the wealthy and connected. If we were to declare a jubillee, what you call a planetary bankruptcy, then the wealthy would be a lot less wealthy, and that will never be allowed to happen.

3. elliemae Follow Befriend (25) 413 threads 6,983 comments Saint George, UT elliemae's website

   3   2:41pm Tue 5 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   Is there a gallactic court to hear the case?

4. zzyzzx Follow Befriend (9) 416 threads 4,137 comments Baltimore, MD

   4   12:34pm Mon 4 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   I'd be OK with that as long as all forms money lending were banned forever.

5. KILLERJANE Follow Befriend (3) 12 threads 600 comments

   5   2:07pm Mon 4 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   Yeah, you're probably right. The best defense against it is no debt at all. Grass roots style, Go Debt Free to Be Free!