Unleashing the Future: Advancing Prosperity Through Debt Forgiveness

[Huey P. Long]

Unleashing the Future: Advancing Prosperity Through Debt Forgiveness
12/02/2011
Submitted by Zeus Yiamouyiannis from Of Two Minds

Simply put, “productivity” is giving to the future, instead of taking from the future. Parasitism is the opposite: Borrowing from the future to fund present desires without credible connection to future healthy growth. Successful productivity requires the development of beneficial new approaches to value creation and the rigorous identification and confrontation of approaches that destroy value and that destroy the environmental, financial, social, and personal fabric of human endeavor. Debt forgiveness is initially brought into play to address the latter requirement, but cannot be viable over the long haul without affirmative new ways to create and exchange value. Given that we have the collective integrity, self-preservation instinct, human will, and the sense of necessity to confront our broken system, let’s first establish philosophical and practical corollaries to guide debt forgiveness as “giving to the future instead of taking from it”:

1) Vitality and worth of debt forgiveness decisions and policies will be assessed on the opportunities they create broadly and systemically, not simply confine themselves to individual cases.

2) Debt forgiveness will support global health and significantly exceed “sustainable,” including creating surplus productivity and opportunity for future generations and not just mitigating current practices.

3) Debt forgiveness and subsequent laws will ensure future legal lending is tied to the success (productivity) rather than failure (parasitism) of the borrower and will not simply be offloaded to the government.

4) Debt forgiveness will promote autonomy and sovereignty not dependence.

5) Debt forgiveness will develop, utilize, and support the metric of actual “use value” over arbitrary mark-to-model “thing value.”

6) Debt forgiveness will have the requirement of breaking up monopolies standing in the way of a true discovery of “use value.”

Case applications of debt forgiveness that confront parasitism and reward productivity

With the Occupy Wall Street (OWS) movement people are beginning to turn their attention toward fully engaging society’s corrupted and powerful decision-makers and creating their own productive alternatives. Changing a system demands something greater from a citizen than merely voting. It means coordinated action on behalf of the public interest.

The recent success of 650,000 people “moving their money” (4.5 billion dollars) from “too big to fail” banks to local banks and credit unions offers a template of what coordinated effective citizen resistance and proactive alternatives might involve.

How can we effectively administer debt forgiveness that breaks our habit of stealing from the future and creates surplus in health and social wellness? The following examples will briefly analyze current primary debt arenas and dynamics, propose debt forgiveness strategies to confront parasitism (along with citizen strategies to break up monopolies responsible for most of the parasitism), and suggest viable alternatives going from the smallest to largest debt arenas—personal (credit cards), family (mortgages), generational (student loans), national (deficit spending), and global (environmental damage).

--points explored--
Credit cards: The personal is economic
Mortgages: Indentured families
Student loans: Generational con games
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Full, lengthy, detailed. essay at link-
http://www.zerohedge.com/news/guest-post-unleashing-future-advancing-prosperity-through-debt-forgiveness-part-4

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[Huey P. Long]

1. Well I thought it was a good article, so fucking kick! -eom

[SalviaBlue]

2. Time for a Jubilee!!

[Huey P. Long]

3. So I'm going to post this comment...the alternative-

from the site-


Fri, 12/02/2011 - 12:50

REPUDIATE YOUR DEBT. Get ready for the coming deluge: DEBTORS' REVOLT -- DEFAULT EN MASSE.

I am an economics and finance professional (retired), a former insider, and I tell you: the predatory lending system is a cancer on our economic future. Starve the cancer of its nutrients then.

Spread the meme. Collapse the predatory banking system. Just say no - don't play their rigged game any longer.

And yes, it will cause widespread systemic collapse, but this will be temporary, we will adjust and rebuild, and will have cleansed out the massive DISTORTIONS that currently plague the system.

DEBTORS' REVOLT -- DEFAULT EN MASSE. The momentum grows. The critical mass is near. ...And to the folks who will immediatel­y answer with "pay what you owe. end of story!", let me just preempt by answering that the analysis is more structural and macro in scope than that. It's not just a matter of whose "fault" it is - regardless of that, it's become a macroscale systemic distortion that, if allowed to continue, will prevent any sort of mobility in the long term. We, as a nation, need to simply suck it up, recognize that these contracts were made in what is essentiall­y a different economic era, and recognize that they are incompatib­le with the new situation. It has to simply be zeroed, reset. Rebuild from there. DEFAULT EN MASSE.

[Ghost Dog]

4. Yes, I'm in favor of mass default

and a transition to economic social and environmental justice.