Max Headroom Posted July 19, 2009 Share Posted July 19, 2009 All debt was cancelled in the world. Every country and every person became debt free in the world. Would the poor still be poor and would the rich become more rich? Quote Link to comment Share on other sites More sharing options...
Ewen Posted July 19, 2009 Share Posted July 19, 2009 Interesting idea, but I doubt there would be much interest in it. *cough* Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 19, 2009 Share Posted July 19, 2009 I dont think it would make much difference. How is Honey? Quote Link to comment Share on other sites More sharing options...
Mike Posted July 19, 2009 Share Posted July 19, 2009 The poor aren't necessarily in debt - they just have f*ck all Quote Link to comment Share on other sites More sharing options...
marc_p Posted July 19, 2009 Share Posted July 19, 2009 If they did this immediately after I took finance out on a Lambo Murchialago that would be nice Quote Link to comment Share on other sites More sharing options...
Blackie Posted July 19, 2009 Share Posted July 19, 2009 If they did this immediately after I took finance out on a Lambo Murchialago that would be nice You could get finance on a Lambo Murchialago? You're ten with no visble means of suport Marc Quote Link to comment Share on other sites More sharing options...
TopgunTT Posted July 19, 2009 Share Posted July 19, 2009 Quote Link to comment Share on other sites More sharing options...
michael Posted July 19, 2009 Share Posted July 19, 2009 The truly poor can't get credit, it's the greedy that causes most of the problems, cancel debt and they are the only winners. Quote Link to comment Share on other sites More sharing options...
Max Headroom Posted July 19, 2009 Author Share Posted July 19, 2009 I dont think it would make much difference. How is Honey? She is a bit poorly atm, she went after a couple of dogs and ripped one of her claws out, no blood, just a bit sore. Still bounds after anything that moves Went to the seaside last week, she went in the sea chasing seagulls, she loved it Ended up being a salty sea dog. Quote Link to comment Share on other sites More sharing options...
dukenukem Posted July 19, 2009 Share Posted July 19, 2009 have a look at zeitgeist.com, click on the eye, it explains all this about world debt. It's quite interesting but it is about 2 hours! Quote Link to comment Share on other sites More sharing options...
Tannhauser Posted July 19, 2009 Share Posted July 19, 2009 All debt was cancelled in the world. Every country and every person became debt free in the world. Would the poor still be poor and would the rich become more rich? Taking the issue of poverty and the debt of poor countries to the rich. The short answer is that the poor would almost certainly become considerably less poor IF it was cancelled with no strings attached. The World's poorest countries spend a large proportion of their GDP paying back their loans. In many cases, they got into the mess because interest rates rose considerably after the loan was taken out. As I understand it,often the original capital of the loasn has long since been been paid back, but the poor are still paying the interest. The loans have strings attached that have often not benefited the local economy, but have supported the lenders politically and/or economically. In addition, 'structural adjustment policies' were imposed by the IMF to prevent defaulting. These are basically austerity measures that force a country to cut back on any social programs e.g. disease measures, education. Studies done by the IMF themselves have shown how debt cancellation has allowed increased investment by countries in poverty relief measures. Unfortunately, even the debt relief initiatives are tied to various conditions (e.g. the country has to privatize the electricity producers first) that don't necessarily benefit the poorest within the country. Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 19, 2009 Share Posted July 19, 2009 She is a bit poorly atm, she went after a couple of dogs and ripped one of her claws out, no blood, just a bit sore. Still bounds after anything that moves Went to the seaside last week, she went in the sea chasing seagulls, she loved it Ended up being a salty sea dog. Ahh sounds like she is having a great time, nice one mate:) Quote Link to comment Share on other sites More sharing options...
Gaz6002 Posted July 19, 2009 Share Posted July 19, 2009 Subscribed. I have a lot to say about this, but I've had too much Cognac to make any sense. Quote Link to comment Share on other sites More sharing options...
Max Headroom Posted July 19, 2009 Author Share Posted July 19, 2009 Subscribed. I have a lot to say about this, but I've had too much Cognac to make any sense. I await your thoughts with interest Quote Link to comment Share on other sites More sharing options...
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