Plans to save the economies of the world.

How to save the economies of the world. Have a world-wide day of jubilee for all public debts (countries/counties/cities/towns/municipalities/villages) that exceed one million US dollars to any country/corporation/or bank and $2 million to any one private person or entity; with the proviso that they balance their budgets for the next 10 years. If they fail to balance their budgets 1/2 of the debt would be reinstated. All debts under $1 - 2mil would remain in force and all other debts will be forgiven with a balance of $1 - 2 remaining.
This would give all world economies a chance to reset. The amount $1mil could just as well be several millions. The idea is to leave private debts where store owners and small banks who rely on the interest income in place but to erase all public debt.

Nice job, you just sold out the little guy. Fail.

The plan needs to have in place a fail safe for the small business owner. The small business owner is not some fat cat, most make enough to support their family and a few employees. Like furniture stores that offer their own credit. What about home town banks that aren't fat cats either, I know of one run by a father and son, they gave a nonprofit I was director of a small loan when no one else would. To cancel private debts would destroy these small businesses.
If we let private individuals off the hook people would run out and buy cars/houses/and tons of stuff on credit and then destroy even more small businesses. I suppose if you put a 10 year moratorium on all people who have their debt cancelled from obtaining any more credit and the same penalty of the debt being reinstated if they apply for or obtain or use more credit it might work. So the individual would have to give up credit cards, mortgages, car loans, etc. and if they overdraw at the bank their debts would be reinstated perhaps you think that would be fair to the little guy? I think that would hurt the little guy more than help.
The most "damage" would be done to the uber rich people and corporations and to countries who bought the debt.

reply to post by grandmakdw


Understand that the world economies would be doing just fine if the world was not run by malevolent people who have planned the coming collapse.

Any plan to save the world economies must plan to eliminate all of those folks. You could then call the plan what it is: sheer fantasy. Because you cannot eliminate them.

Originally posted by grandmakdw
This would give all world economies a chance to reset. The amount $1mil could just as well be several millions. The idea is to leave private debts where store owners and small banks who rely on the interest income in place but to erase all public debt.

Pity the people who see their pension funds invested in government bonds being written off.

How the economy works is one big messy, powerful and political situation. While your ideas will not fix all of its problems, it is good to see more people actually thinking and learning about. There is a lot of information around about it and it does take time to work through it to build up a picture of how it kinda works. There are also a lot of secrets and misinformation around clouding the actual situation and making it hard to know just what is really going on. There will also be a lot of effects with any changes that are made so it is important to do your homework and make sure the changes are for the better and not worst.

here answer your own questions - this is the delimma, or reality of the situation -- and now tack on rich greedy f*cks and viola ! a really screwed up mess.