The Mudcat Café TM
Thread #115883   Message #2653743
Posted By: Little Hawk
11-Jun-09 - 01:04 AM
Thread Name: BS: Popular Views: the Obama Administration
Subject: RE: BS: Popular Views: the Obama Administration
You know what, BB? If the silly bastards worldwide who have crippled the entire world's economy by creating an upayable mountain of debt would do one thing, they could solve this.

If they pardoned ALL the past load of totally unpayable debts and started over with a clean slate....

I'm serious. The debts that have been created in the world can't be paid off, because they were created out of thin air through irresponsible lending practices by major financial instituations who lent out vast amounts of fictional money in order to reap profits through interest charges on the loans.

So pardon the past debts. Wipe the book of debt clean. Start over.

And in future...do NOT allow our financial institutions to lend out 10 times or 100 times as much money as they have REAL money on deposit. Make that practice totally illegal. Arrest any bankers who are caught doing it and jail them. That would wipe out the inflationary bubble you are quite rightly worried about, but it would deprive the bankers of their favorite money tree. Thus, I suspect they would utterly oppose such measures being taken.

Thus, I expect it will not happen.