Wipe slate clean with debt amnesty

Graham_Devon

Dan: wrote: »

I think ninky may have a point. There was a time when you couldn't pop in a bank to pay a cheque without getting hassled to take out a loan or credit card.

Everytime you logged into your online banking there would be a message "Your Pre-Approved for 25K"

For some, all this in your face, is just too tempting.

The banks should take some of the responsability.

Funny you should say that.

Had to press another silly button trying to withdraw cash from HSBC cash machine today. "Are you interested in tax free savings, yes or no".

Going the other way now they want your money!!

lynnexxxo

I do hope that if the government did decide to cancel all unsecured debt they would give me a couple of weeks notice so I can rack up some credit cards bills. I'll have a new car, some new clothes and maybe a new sofa too

Sod it, as well as the new sofa I'll have some new furniture. And not that ikea stuff I usually have to settle for, I'll be getting the expensive stuff!

bendix

lynnexxxo wrote: »

I do hope that if the government did decide to cancel all unsecured debt they would give me a couple of weeks notice so I can rack up some credit cards bills. I'll have a new car, some new clothes and maybe a new sofa too

Sod it, as well as the new sofa I'll have some new furniture. And not that ikea stuff I usually have to settle for, I'll be getting the expensive stuff!

Don't forget the cruise to the West Indies which is now everyone's god-given right. Someone else can pay for that too.

chewmylegoff

kabayiri wrote: »

The Sumarians had quite advanced monetary models over 2,000 years ago. Interestingly, one of their principles was to hold a debt amnesty whenever the combined debt exceeded the ability of the populace to pay. This was by all accounts successful.

For those interested, look up Michael Hudson the economist on YouTube. I find it hard to disagree with his views.

oh well, that's ok then, i'm sure that we can apply the sumerian model to today's non-global economy.

i bet the value of sterling on the FX markets won't even be affected!

:rolleyes:

chewmylegoff

cancellation of all debts is obviously a stupid idea, even if it didn't destroy our economy, which it certainly would, it would also lay the foundations for an even more preposterous debt bubble, and probably ridiculous levels of inflation.

bendix

chewmylegoff wrote: »

oh well, that's ok then, i'm sure that we can apply the sumerian model to today's non-global economy.

i bet the value of sterling on the FX markets won't even be affected!

:rolleyes:

Now don't be sarcastic. It's not like the Sumerian empire hasn't flourished as a result of this wonderful practice and continues to do so . . . . oh, wait. Hang on.

If we're using ancient (and collapsed) empires for inspiration about how to handle economic matters, why don't we put all these immigrants discussed in other threads to good use and reestablish slavery like the Ancient Greeks and Romans. It worked for them, it has the added bonus of mopping up lots of umemployed and it costs nothing. Plus, it will keep dervish happy.

JayScottGreenspan

So the banks all go bankrupt. Either the UK taxpayer picks up the tab, bankrupting the taxpayer and turning us into Zimbabwe-to-the-power-of-ten, or we just tell all those foreign investor "sorry, we're not paying". Then not even Argentina would touch us with a bargepole for the next couple of centuries, and we're back to tilling our own land and living in huts made of poop with a life expectancy of 23.

I'm not sure mad aunty Helen has thought this one through...

lilac_lady

I hope this reward scheme waits until the people with no personal debt have time to catch up on debt by have reckless credit funded spending sprees. I'll agree that it'll be a fair scheme when that happens.

Robert_Sterling_3

Save money by unlocking all the prisons and forgiving prisoner their trespasess.

drc

Dan: wrote: »

I think ninky may have a point. There was a time when you couldn't pop in a bank to pay a cheque without getting hassled to take out a loan or credit card.

Everytime you logged into your online banking there would be a message "Your Pre-Approved for 25K"

For some, all this in your face, is just too tempting.

The banks should take some of the responsability.

Erm, you can just say "no" or click "no" to the internet message? Sorry but it's not really that difficult. It just takes a bit of willpower. Maybe they should start printing a large message on the credit card application forms stating "you are borrowing money, it is not yours, you will have to pay it back at some point with interest which means you will have less money available to spend on a plasma tv" in the same way that the put "contains nuts" on the back of peanut packets just for those who do not understand what credit means :rotfl:.