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CKA Uber
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PostPosted: Thu Mar 26, 2020 4:25 pm
 


stratos wrote:
Wouldn't a debt jubilee cause many companies to go broke and close? This would make a lot of people unemployed? Putting them out of the economic recovery that would supposedly take place.

Not against it but trying to figure out how it would actually work.

It would also cause an economic boom as suddenly the disposable income skyrockets overnight.


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PostPosted: Thu Mar 26, 2020 6:05 pm
 


Thanos wrote:
I think that it wouldn't even be what the communists want, a centrally-planned and dictated economy where some faceless apparatchiks somewhere in a dingy room decide who gets what and grudges get anonymously settled against those who might have "too much". What it could be, and should be, is the actual and genuine DEMOCRATIZATION of the entire world economic and financial structure - in other words, it's not democratic socialism but instead actual real economic democracy. Start with the first principle, the first right, being that no one anywhere will be left without the core basics of shelter, safety, nutrition, health care, and education. And the most important second one, is that the billionaire and multi-millionaire classes are forever abolished, and that those who live in the greatest of luxury will never again be allowed to dictate who can have what or how much the "lesser and inferior" can have in violation of the first principle already mentioned.

Then work from there, just to see what happens. It would be the greatest challenge ever but it could also lead to the dawning of the first golden age for all of humanity, not just for the born-fortunate.

mhm yes, that idea totally sucks! please, don't do this, noooo, nooooooo


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PostPosted: Thu Mar 26, 2020 6:58 pm
 


You already know how that would work out. Insurance companies, banks wold just raise your fees, landlords your rents, retailers their prices. Even local gov't would hike your taxes and make sure if the gov't gave everyone $2000 a month they'd take $2500 of it.
Anyone getting 1/2 a month's car insurance back because it's parked while they isolate?


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PostPosted: Fri Mar 27, 2020 7:04 am
 


Tricks wrote:
stratos wrote:
Wouldn't a debt jubilee cause many companies to go broke and close? This would make a lot of people unemployed? Putting them out of the economic recovery that would supposedly take place.

Not against it but trying to figure out how it would actually work.

It would also cause an economic boom as suddenly the disposable income skyrockets overnight.



I understand that but there would be thousands if not 10's of thousands laid off or unemployed. That loss of income does not give them the economic boom. Just have to weigh out which one is the better for the whole I guess.


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PostPosted: Fri Mar 27, 2020 7:21 am
 


stratos wrote:
Tricks wrote:
stratos wrote:
Wouldn't a debt jubilee cause many companies to go broke and close? This would make a lot of people unemployed? Putting them out of the economic recovery that would supposedly take place.

Not against it but trying to figure out how it would actually work.

It would also cause an economic boom as suddenly the disposable income skyrockets overnight.



I understand that but there would be thousands if not 10's of thousands laid off or unemployed. That loss of income does not give them the economic boom. Just have to weigh out which one is the better for the whole I guess.


I don't think there would be layoffs because of forgiven debt. Think about it, it's mostly automated systems maintaining things like credit card debt. And the systems will still be needed as people rack up more credit card debt. Who would get laid off?


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PostPosted: Fri Mar 27, 2020 7:27 am
 


Quote:
I don't think there would be layoffs because of forgiven debt. Think about it, it's mostly automated systems maintaining things like credit card debt. And the systems will still be needed as people rack up more credit card debt. Who would get laid off?


Business that you owe the money to. Such as BestBuy, Walmart, the Banks, you name it someone owes it money. Now you say no one owes any one money. How do those companies PAY their employees, how do business restock their supplies. There is no debt to them so they are not getting paid for the products you already purchased. Oh yeah the bank paid them. So the bank is not getting that money back. Banks close, YOUR Bank closes how do you now get your money from your employer. You get a check, where do you cash it.


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PostPosted: Fri Mar 27, 2020 7:31 am
 


I'm no against a Jubilee. I just think there needs to be a lot of safe guards put in. Some of these safe guards will not be popular. People were hear how businesses and banks are getting propped up to stay open. People will say, look the rich people are getting more than us.


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PostPosted: Fri Mar 27, 2020 9:25 am
 


Scape wrote:
Expect more helicopter drops to come. The problem is it's hard to restart and economy on lockdown.


True, but this action helps to mitigate the damage.


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PostPosted: Fri Mar 27, 2020 11:39 am
 


stratos wrote:
Quote:
I don't think there would be layoffs because of forgiven debt. Think about it, it's mostly automated systems maintaining things like credit card debt. And the systems will still be needed as people rack up more credit card debt. Who would get laid off?


Business that you owe the money to. Such as BestBuy, Walmart, the Banks, you name it someone owes it money. Now you say no one owes any one money. How do those companies PAY their employees, how do business restock their supplies. There is no debt to them so they are not getting paid for the products you already purchased. Oh yeah the bank paid them. So the bank is not getting that money back. Banks close, YOUR Bank closes how do you now get your money from your employer. You get a check, where do you cash it.


When you use a credit card to buy things, the credit card company takes on the debt, and pays the retailer. They charge the retailer a percent cut to do this, and then charge the customer in such a way that if you carry a balance you will end up paying the credit card company many times the value of the original purchase.

So the retailer is paid, and in most cases, the credit card company is paid back many times the original value. If the original debt is cancelled (on a long term debt), is anyone really out anything?

Now, with all this talk of a Jubilee, no one has said how this cancelling of debt will work. Will is just evaporate? Will the government cover the debt in some way? Will it apply to mortgages or car payments? Student loans? No one knows, if such a thing is even being discussed.


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PostPosted: Fri Mar 27, 2020 8:12 pm
 


herbie wrote:
You already know how that would work out. Insurance companies, banks wold just raise your fees, landlords your rents, retailers their prices. Even local gov't would hike your taxes and make sure if the gov't gave everyone $2000 a month they'd take $2500 of it.
Anyone getting 1/2 a month's car insurance back because it's parked while they isolate?

Good point about car insurance. How many now will re-insure for "pleasure only" while they are out of work?


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PostPosted: Fri Mar 27, 2020 9:45 pm
 


Great pleasure in the one that hasn't moved for ten days........ :D


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