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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Elroy Jetson who wrote (107152)1/23/2010 6:01:30 PM
From: Hawkmoon  Read Replies (1) of 116555
 
Bankruptcies eliminate the debt, not the productive employees.

You want to get there quick, so why not just lay everyone off until you achieve that level of "no-debt" in our society?

That's the fastest way possible to get to that scenario.

Make everyone buy their houses for cash on the barrel.. Get rid of credit card companies. Turn banks into monetary "store houses" where people can hoard their cash for a fee. Or you could create a market for combination mattress/safes where people can stuff their savings (unless their savings are in wheat or some other form of bulk commodity... ;0)

Firing EVERYONE who has debt is ABSOLUTELY the quickest way to wipe out ALL DEBT in this society. They'll all be bankrupt within a year.

And we can let the people who have NO DEBT be the only ones entitled to have a job.

Why not do it?

Hawk
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