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If most countries are broke, then Planetary Bankruptcy would be good?
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2012 Jun 1, 4:04pm 2,544 views 5 comments
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Auntiegrav
2012 Jun 1, 10:06pm
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.
zzyzzx
2012 Jun 4, 5:34am
I'd be OK with that as long as all forms money lending were banned forever.
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.
KILLERJANE
2012 Jun 4, 7:07am
Yeah, you're probably right. The best defense against it is no debt at all. Grass roots style, Go Debt Free to Be Free!
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.