Mortgage Forgiveness?

Discussion in 'Economics' started by morganist, Aug 22, 2011.

  1. Lots of people want to clamor, "let's forgive somebody's [including some countries's] debt"..... apparently forgetting the lender takes it in the shorts.

    Debt is such a bitch! It ALWAYS "gets accounted for" by somebody*.

    *So.... how do we all think Odumbo's MONSTROUS DEFICIT SPENDING "gets accounted for"?
  2. bone

    bone ET Sponsor

    "This is the logical dead end of the Nanny State. When William Beveridge laid out his blueprint for the British welfare regime in 1942, his goal was the “abolition of want” to be accomplished by “co-operation between the State and the individual.” In attempting to insulate the citizenry from life’s vicissitudes, Sir William succeeded beyond his wildest dreams. As I write in my book: “Want has been all but abolished. Today, fewer and fewer Britons want to work, want to marry, want to raise children, want to lead a life of any purpose or dignity.” The United Kingdom has the highest drug use in Europe, the highest incidence of sexually transmitted disease, the highest number of single mothers, the highest abortion rate. Marriage is all but defunct, except for William and Kate, fellow toffs, upscale gays, and Muslims."
  3. bone

    bone ET Sponsor

    "What has happened morally in the West is what has happened financially as well. Good and otherwise sensible people were persuaded that you could spend more than you earn, incur debt at unprecedented levels and consume the world's resources without thinking about who will pay the bill and when. It has been the culture of the free lunch in a world where there are no free lunches."