I think it's probably debt write offs that we need

If you give eaveryone ?500 we'll be happy for a few days but once the hangover / holiday memories have gone we're back to square one. Very few will pay down their debts.

But writing off debt means accepting that we (at the Big Business and Governmental level) aren't as rich as we think, so that's not going to happen. So we'll print money to help people and countries service debts that will just increase and increase.

It needs massive debt write-off at a personal and national scale, coupled with systematic change to make it harder to repeat the cycle (and by that, probably moving away from fractional reserve banking and moving back to gold standard or similar).

But because the vested interests don't want to let go of their assets (being owed money) and we as individuals don't want to cut living standards, that is never ever ever going to happen.

The best we can hope for is the odd period of hyperinflation to re-set the game before the merry-go-round all starts again.

Posted By: CWC on January 7th 2016 at 16:39:24

Message Thread

UK economy looking dodgy (NCFC) - Larry Hagman, Jan 7, 15:06:23
- They'll carry on spinning it's all great. The media and bbc will lick their arses along (NCFC) - pants, Jan 7, 15:30:04
  - Just like the headline about a "booming economy" (NCFC) - pants, Jan 7, 15:34:34
- won't really affect your lifestyle though will it Larrold (n/m) (NCFC) - Jumbo1, Jan 7, 15:24:27
  - I care about others too though (n/m) (NCFC) - Larry Hagman, Jan 7, 16:21:29
    - and perhaps it'd be nice to leave a sustainable world to our descendents (NCFC) - Worzel Scrimmage, Jan 7, 16:31:26
      - We need scientists to save society and the world. (NCFC) - essexcanaryOTBC, Jan 7, 16:32:46
        
        probably just better to allow a pandemic or world war to stave off the inevitable (NCFC) - Worzel Scrimmage, Jan 7, 16:34:57
        
        That's the way it'll probably end up going tbf (sadly) (n/m) (NCFC) - essexcanaryOTBC, Jan 7, 16:51:51
    - lend us ?50k then? (NCFC) - Jumbo1, Jan 7, 16:29:25
- Indeed. In fact all of "the west". When this bubble bursts it will be massive. Far (NCFC) - Steve in Holland, Jan 7, 15:11:08
  - Best way to transfer wealth from the lower classes to the filthy rich (NCFC) - essexcanaryOTBC, Jan 7, 16:27:27
  - well, I wouldn't say we've learned nothing (NCFC) - CWC, Jan 7, 16:14:03
    - Well people are increasingly able to borrow more money than they can afford to pay back (n/m) (NCFC) - Steve in Holland, Jan 7, 16:45:25
      - So they become owned. Printing more money to put more people and the world in debt (NCFC) - essexcanaryOTBC, Jan 7, 16:52:21
    - Wise words. We all need to try find win-win not win-lose as you correct suggest is happeni (NCFC) - essexcanaryOTBC, Jan 7, 16:29:58
      - all traits that come naturally to humans (NCFC) - CWC, Jan 7, 16:41:40
        
        Well, as humans we have a responsibility to learn them don't you think? (NCFC) - essexcanaryOTBC, Jan 7, 16:53:56
    - Best form of quantitative easing is to give more money to poor people cos they spend it (NCFC) - Larry Hagman, Jan 7, 16:27:28
      - I think it's probably debt write offs that we need (NCFC) - CWC, Jan 7, 16:39:24
        
        That's what the insurance industry has always done. Held assets in reserve to cover (NCFC) - essexcanaryOTBC, Jan 7, 16:56:55
        
        and then people would soon borrow as much money again that had been written off... (n/m) (NCFC) - Larry Hagman, Jan 7, 16:48:39
        
        Stricter lending rules and better education for borrowers. It's our psyche that needs to (NCFC) - essexcanaryOTBC, Jan 7, 16:59:50
      - Exactly. They don't save or invest. Their spending boosts taxes (VAT) and company profits (n/m) (NCFC) - essexcanaryOTBC, Jan 7, 16:31:19
        
        Yep, and yet the govt want to make the poor even poorer which means (NCFC) - Larry Hagman, Jan 7, 16:39:48
        
        Of course. They're powerful. They can abuse it to make themselves (NCFC) - essexcanaryOTBC, Jan 7, 17:01:53
- ^^^^ just been to lunch with George Osborne (n/m) (NCFC) - Pixelman, Jan 7, 15:09:14
  - Hagman is Ed Balls? (n/m) (NCFC) - essexcanaryOTBC, Jan 7, 16:32:01
  - at the Playboy Mansion (n/m) (NCFC) - Jumbo1, Jan 7, 15:23:38

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