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To: NOW who wrote (257584)	6/30/2010 3:46:37 AM
From: NOW	Read Replies (1) \| Respond to of 306849

"Somebody must take a loss on the economy's bad loans – and bankers want the economy to take the loss, to "save the financial system." From the financial sector's vantage point, the economy is to be managed to preserve bank liquidity, rather than the financial system run to serve the economy. Government social spending (on everything apart from bank bailouts and financial subsidies) and disposable personal income are to be cut back to keep the debt overhead from being written down. Corporate cash flow is to be used to pay creditors, not employ more labor and make long-term capital investment. " Michael Hudson

To: NOW who wrote (257584)	6/30/2010 3:59:18 AM
From: Skeeter Bug	Read Replies (2) \| Respond to of 306849

NOW, the problem is that the government controllers are using debt as a weapon to destabilize the world economy and middle class, imho. why default on the debt, which a government can do, when it is your club that you use to transfer wealth to your buddies and break the will of a nation to enslave them in tyranny.

To: NOW who wrote (257584)	6/30/2010 4:00:23 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Bankruptcy and foreclosure are the most obvious solutions to excessive debt to income. The debt problem in America fortunately resides primarily in the business and consumer sector, both quickly cured of debt with these magical procedures. .

To: NOW who wrote (257584)	6/30/2010 10:56:56 AM
From: Perspective	Respond to of 306849

Yes, debt is nothing but the flip side of credit. One man's liabilities are another man's (or corporation's) assets. Our excess debt is a reflection of concentration of wealth - that 0.0001% of the population has ownership rights to everything and expects the other 99% to pay them income every day in compensation to support their return on capital. The situation can be remedied by restructuring the debt of the lower 99%, by taxing the top 1% so that more of the needs of the rest of the world can be provided for by public means at their expense, or by finding new sources of income for the bottom 99% that don't involve paying fees to the top 1%. The first two involve the elite giving up some of their claims on the rest of humanity, and unless somebody can figure out some new businesses for solution #3 stat, one of the first two has to happen. `BC