We need a "Jubilee". A debt moratorium, if you will. It used to be the norm in most of the world that when everyone is broke you bankrupt the financiers and start over. Unfortunately most "financiers" in the past were Jews. That wasn't good for them. To many scrimped and saved for generations and lent their money for profit only to get robbed and murdered.
The difference we have now days is for the taxpayers to guarantee the loss. Not all at once of course, but you have to bankrupt the stockholders and the greedsters and make whole the system. Credit Unions and savings bank that can only lend to a local customer is the key. Not global straddling behemoths.
Do it yesterday as time is not on our side.
How about some more Washington insider insight.
Six Minutes with the Renegade Economist - Michael Hudson Special...
The difference we have now days is for the taxpayers to guarantee the loss. Not all at once of course, but you have to bankrupt the stockholders and the greedsters and make whole the system. Credit Unions and savings bank that can only lend to a local customer is the key. Not global straddling behemoths.
Do it yesterday as time is not on our side.
How about some more Washington insider insight.
Six Minutes with the Renegade Economist - Michael Hudson Special...
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