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elawson522@comcast.net
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The “debt jubilee” nonsense

- Steve Saville - Speculative Investor

Interesting. Your claim that "biblical times" had no economic improvement from one generation to the next speaks directly to our times. In America, my generation is worse off than my parents and my kids are going to be worse off than me. Also, your claim that it would an "ethical disaster" for debt jubilee makes me wonder what you think is happening now? Furthermore, the most productive members of society are not the people who lend money. They do the vary least. The most productive members in society are the construction workers, teachers, firefighters, etc. Those are the borrows constantly trying to keep up with inflation created by, guess who... the lenders. Your position in this matter speaks volumes as to what your loss would be if a debt jubilee ever occurred. Thank you for the dialogue.

Commented 2660 days ago

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Beginning of the headline :This post is a rehash of something I wrote at TSI last September in response to the article titled “The Gold Standard and Debt Jubilee“. The article is a confused jumble of Marxist, biblical and capitalist ideas/assertions, but its gist is that we need both a debt jubilee and a gold standard. My views are that a gold standard is not a worthwhile objective and that a debt jubilee would be both an economic and an ethical disaster. If the market for money were free then gold would probably be money... Read More

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