The Occupy Strike Debt group has sent out its first letters of debt forgiveness.
http://blogs.villagevoice.com/runninsca ... ng_jub.php
Rolling Jubilee
Rolling Jubilee
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
Re: Rolling Jubilee
Tinker,Enki wrote:The Occupy Strike Debt group has sent out its first letters of debt forgiveness.
http://blogs.villagevoice.com/runninsca ... ng_jub.php
Kudos to OSDG! Volunatary action is a wonderful thing!!
Reminds me of A. Gary Shilling's writings that economic stimulus will not work because the zeitgeist has changed and most people will use any additional income to pay down debt, rather than spend, or take on more debt.
The reversion to sanity may have begun......
- Endovelico
- Posts: 3038
- Joined: Mon Dec 12, 2011 3:00 pm
Re: Rolling Jubilee
This is one of the most thrilling things I have come across in a long time! It's a superb idea, even if it can only make the slightest dent on the debt problem. I'm going to try and find out whether it would make sense in Portugal, as one needs to have a market for doubtful debts allowing to buy debt at a fraction of its original value.Enki wrote:The Occupy Strike Debt group has sent out its first letters of debt forgiveness.
http://blogs.villagevoice.com/runninsca ... ng_jub.php
- Miss_Faucie_Fishtits
- Posts: 2150
- Joined: Sat Dec 17, 2011 9:58 pm
Re: Rolling Jubilee
When you forgive debt, you wipe out the wealth it supports. Could it be worth it to start out on a clean slate?.........
She irons her jeans, she's evil.........
Re: Rolling Jubilee
Well since they are purchasing the distressed debt to begin with, that wealth has already been mostly wiped out.Miss_Faucie_Fishtits wrote:When you forgive debt, you wipe out the wealth it supports. Could it be worth it to start out on a clean slate?.........
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
- Miss_Faucie_Fishtits
- Posts: 2150
- Joined: Sat Dec 17, 2011 9:58 pm
Re: Rolling Jubilee
And the original holders are kinda screwed too.......'>.......
She irons her jeans, she's evil.........
Re: Rolling Jubilee
Yes, but they were screwed more when the debt was for sale, than they were after the sale.Miss_Faucie_Fishtits wrote:And the original holders are kinda screwed too.......'>.......
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
Re: Rolling Jubilee
if its donated money buying out debts then its of a different nature to government debt jubilees.
ultracrepidarian