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SCHuLD MaCHT FReI...
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"Debt makes you free"
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The world faces a choice between trying to recover the Bubble Economy’s debt-
leveraged gains, or realizing that the financial sector has careened along an unsustainable
path since 1980 and therefore that a fresh start has to be made.
The “business as usual” approach is to keep today’s debt overhead on the books and
bail out insolvent banks. This policy implies that financialization was a viable way to get rich
in the first place. But the effect is to polarize economies further between creditors and
debtors. Economies will shrink as a result of debt deflation, and falling tax revenues will push
government budgets deeper into deficit – unless they cut back spending, which will make the
downturn worse and threaten full-fledged depression. Unemployment will lead to emigration,
the balance of payments will worsen and economies will be even less able to pay their debts.
The alternative is to see where this path is leading, and to write down debts sooner
rather than later. This restores a more progressive distribution of wealth and income, and
revives the economy’s competitive position. The problem is that annulling debts also annuls
financial claims on the “savings” side of the balance sheet. Creditors – led by the 1%, who
have obtained most of the economic gains over the past thirty years – prefer to maintain
their financial gains even at the cost of undercutting society’s longer-term growth.
This opposition of interests obliges nations to choose between resuming prosperity
or vesting a financial oligarchy ("oligarchization") to lord it over the remainder of the 21st century.
Michael Hudson (2012): How to Write Down the Debts and Restructure the Financial System
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the revolution happens all the time.
the revolution will never end and
there is no currency that can capture
it. the revolution costs nothing but
perhaps some miss priced pride and
perhaps a few spare parts and things
that have been laying around collecting
dust.
what is the revolution that can never
be extinguished or purchased?
i think it is the only answer to all
the questions. you need say nothing,
but to know the answer changes the world
and the universe at once.
thanks.
anyway poems^tm
Brilliant William - I think this is the best you have ever done - especially because it applies to all the developed countries inluding mine.
Behind every drunk debtor is an equally drunk bankster.
Don't forget about the few red neck drunks who have no debt and buy precious metal coins all night long yet shop at the thift store for clothes. i.e. me. I have to go to the ATM again.;-)
Ah the comeuppance of the financial parasites!
If banks don't have to pay their debts why should Greece or the Greek people?
It is irresponsible you say? The prime lack of responsibility rests squarely with the banks/insurers/corporations who don't pay their debts or honor their obligations hand-in-hand with their political lackeys in government.
No reason for any individual to labor or pay back debt if the parasites of government and industry don't.
It is taking a slow long painful time but the moral hazard is gradually coming full circle.
What's good for the goose is never good for the gander.
The four gunmen are the best.
PLEASE PUT A DOLLAR SYMBOL IN HER HAND....probably more apropos....
that's the paradox. jubilee is ultimately the best expression of self interest for the .1% in the present situation as a means of preserving asset value in the long run and restarting the credit/debt cycle in the short run.
the path chosen is the best expression of animal spirits' self interest that causes a forced reset as everyone(da banks) takes an increasingly bellicose position to protect their assets(which they will lose anyway in a forced reset).
Rot frau ist die bombe!
50 shades of statism...
DaddyO
Red Frau - unbezalhbar!
Only cancelled debt macht frei of banker's bondage.
Schuld macht frei!!
Effing Brilliant WB!!!
Brilliant indeed. I'm suprised there aren't more bankers named Schuldman, Rosenschuld, Hartschuld, etc.
"If you're hanging onto a rising balloon, you're presented with a difficult decision - let go before it's too late or hang on and keep getting higher, posing the question: how long can you keep a grip on the rope?"
Danny, Withnail & I
Fresh Start?
They've got most of the guns, by far. They've got most of the microphones and "credible" venues for capturing popular mindshare. They've got virtually ALL of the friggin' money, politicians, prominent business leaders,....
The only fresh start is the reset, terms of which the oligarchs in control at that time will dictate.
Honestann was right - response options include (to liberally paraphrase):
-Hide in the boonies and eke out an existence until they come to get you wherever you are,
-Stay and escalate the futile battle that is already lost, just to make it less convenient for them, or
-ben dover.
There is no earthly solution to our current condition and our future prospects. Just sayin'.
They've got most of the guns, by far.
Not even close. Your motives are suspect for having tried to make me believe that, though.
"Yeah, must be a conspiracy - the guy said something I disagree with." Dumbass.
And, not only are you stupid, you're full of shit. If you've got all the firepower that's needed, why haven't I been reading about all the TSA agents, federal Marshals, and "civil asset forfeiture" committing police and DA's that you and your confrere's have been whacking? Because you've been whacking yourself. Now put your cock back in your mouth and STFU.
good catch----"they" will be the end of "them" ----"we" won't even see the fight. Just wak out the door one morning and find dead oligarchs piled high in the streets--- "Its a beautiful morning",
http://www.youtube.com/watch?v=cJqjlFGZxtE
they don't have the moral high ground,
and they don't have the idea that will not go away:
LIBERTY!
We wont get a fresh start till the banks go under and the politicians are cornered. Keep your ropes handy.
Unemployment will lead to emigration,
imagine that a group of (separatists?) which is how the news media describes the pro-Russian Ukrainians, when if fact they are more like the loyalists fighting a coup which is eerily similar to another fascist takeover in Spain many years ago. imagine this group wants their own separate country or land or state, and statist NWO gives it to them, you can have Montana, Iceland, Greece. from the perspective of the free minority escaping oppression their situation is no different than the concentration camp, or the FEMA camp, a no protest zone (where no one can hear you) or a no debt zone (where no money passes through to the larger economies) along with a new islamic state, a debt free state, and each one a mirror of Gaza (where is our president on these human rights?)
Bankers to the people: Schuld macht frei!
People's reply back to the bankers: Arbeit macht Frei!