Subject:
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Re: A hypothetical economics question...
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Mon, 4 Mar 2002 21:47:50 GMT
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Viewed:
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214 times
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In lugnet.off-topic.debate, Dave Schuler writes:
> What would happen if all debts public and private were just plain
> cancelled as of, say, 1/1/2002?
I'd quit my job.
> In all seroiusness, what would be the effects?
Many wealthy people would lose their perpetual income streams. Many lower
middle class people would lose their perpetual debt streams.
I'd like to change your scenario a little. What would happen if the place
where everyone lived instantly became their property (or at least rightfully
theirs to inhabit) with no debt on it? And further, debt could not lien on
that property.
From the idealistic social viewpoint, I don't mind people being in debt for
their BMWs and toasters and European vacations nearly so much as for their
houses and educations. But maybe I'm just revealing where 90% of my debt lies.
:-)
Chris
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Message has 2 Replies:
 | | Re: A hypothetical economics question...
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| (...) Heh. I'd be pleased as pie if Zeus could come off his mountain and zap my student loans with a thunderbolt. Since I'm not yet a homeowner, that hefty monkey on my back makes up very nearly the entirety of my debt. Not that I'm shirking my (...) (22 years ago, 4-Mar-02, to lugnet.off-topic.debate)
| | | Re: A hypothetical economics question...
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| (...) And I'd HAVE to go back to work. :-( (...) I pretty much agree, although there is a danger of stereotyping-- many people who are not rich but have been playing by the rules for several years would be hurt. And if you suddenly change the rules (...) (22 years ago, 4-Mar-02, to lugnet.off-topic.debate)
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Message is in Reply To:
| | A hypothetical economics question...
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| What would happen if all debts public and private were just plain cancelled as of, say, 1/1/2002? I choose an already-passed date so that there couldn't be a mad dash to accrue huge debt in hope that it would be eliminated. In all seroiusness, what (...) (22 years ago, 27-Feb-02, to lugnet.off-topic.debate)
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