Send a Tweet
Most Popular Choices
Poll Analyses
Share on Facebook 8 Share on Twitter Printer Friendly Page More Sharing
Best Web OpEds   

A Debt Jubilee Is the Only Way to Avoid a Depression

Author 14196
Follow Me on Twitter     Message Lance Ciepiela
Become a Fan
  (53 fans)

Debts that can't be paid won't be. A debt jubilee may be the best way out
Debts that can't be paid won't be. A debt jubilee may be the best way out
(Image by unz.com)
  Details   DMCA

Even before the coronavirus appeared, many American families were falling behind on student loans, auto loans, credit card balances and other payments. America’s debt overhead was pricing its labor and industry out of world markets. A debt crisis was inevitable eventually, but covid-19 has made it immediate.

Massive social distancing, with its accompanying job losses, stock dives, and huge bailouts to debt-strapped corporations, raises the threat of a depression. But it doesn't have to be this way. History offers us another alternative in such situations: a debt jubilee.   

This slate-cleaning, balance-restoring step recognizes the fundamental truth that when debts grow too large to be paid without reducing debtors to poverty, the way to hold society together and restore balance is simply to cancel the bad debts..    

Read the rest of the story HERE:

At www.unz.com

 

Rate It | View Ratings

Lance Ciepiela Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in


Lance Ciepiela is a retired senior who had an interesting career in government service - a United States Marine Corps (USMC) Vietnam-Era veteran, who became interested in restoring the Constitution after I realized that W Bush had attacked (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Comments Image Post Quicklink Comment and Rate This Quicklink

These discussions are not moderated. We rely on users to police themselves, and flag inappropriate comments and behavior. In accordance with our Guidelines and Policies, we reserve the right to remove any post at any time for any reason, and will restrict access of registered users who repeatedly violate our terms.

  • OpEdNews welcomes lively, CIVIL discourse. Personal attacks and/or hate speech are not tolerated and may result in banning.
  • Comments should relate to the content above. Irrelevant, off-topic comments are a distraction, and will be removed.
  • By submitting this comment, you agree to all OpEdNews rules, guidelines and policies.
          

Comment Here:   


You can enter 2000 characters. To remove limit, please click here.

Please login or register. Afterwards, your comment will be published.
 

Username
Password

Forgot your password? Click here and we will send an email to the address you used when you registered.
First Name
Last Name

I am at least 16 years of age
(make sure username & password are filled in. Note that username must be an email address.)

1 people are discussing this page, with 1 comments  Post Comment


Lance Ciepiela

Become a Fan
Author 14196
Follow Me on Twitter (Member since Apr 4, 2008), 53 fans, 58 articles, 186 quicklinks, 4921 comments, 214 diaries (How many times has this commenter been recommended?)
Facebook page url on login Profile not filled in Twitter page url on login Profile not filled in Linkedin page url on login Profile not filled in Instagram page url on login Profile not filled in

  New Content

The chaos wrought by the coronavirus pandemic has thrust the U.S. economy into an unprecedented downturn with no clear end in sight.In less than two months, the U.S. has gone from enjoying a record-breaking stretch of economic growth to bracing for a deep recession driven by the near total shutdown of entire industries. TheCrisis #Timeline. #DebtForgiveness.

Submitted on Monday, Mar 23, 2020 at 12:45:07 AM

Author 0
Add New Comment
  Recommend  (0+)
Help

 
Want to post your own comment on this Quicklink? Post Comment