This could be remedied by enabling the borrowers to earn more money to help pay their credit card debts off. There is a way to do this quickly without costing anybody anything and giving the borrowers a opportunity to work their way out of their debt. I have linked to the article below. http://morganisteconomics.blogspot.com/2018/05/an-answer-to-pay-disputes-make-sure-you.html?q=r-paid If you want we can lobby for it as a group from here to avert another credit default. Do you want to get involved in this?
It would be great if ET was able to impact US policy by lobbying! Not quite in NRA league just yet, but got to start somewhere.
That would be an unwise move by the power elite.Debt slavery is a sure fire way to keep the masses in check. Having a bunch of citizens running around with disposable income and fund fund avaible to aquire assets might upset the fine balance of power. Keep the plebs working just hard enough to keep them on check and productive. Akuma
If they default on the loan the whole debt enters default and will cause a failure to repay the debt losing investors money. They all seem to owe so much that it is unlikely they will be able to buy into new assets, it is more likley they will just be able to keep the assets they have. The increase in income they could get from economic reform would enable them to repay the debts and maintain ownership of what they have. This what I am trying to do, make sure the lending and repayment system is sustained to provide lenders who are dependent on the income they receive, many are pensioners, to have the income they expected and avoid default that would cause a loss of capital. The borrowers will be able to maintain ownership of the assets they purchased with the debt in exchange. This will provide a stable economy and financial system.