Strike Debt! You are not a loan.

[Laelth]

62. You have been very fortunate.

Almost all the rest of us have had to borrow money at one time or another. If you have a house note or a car note, you have borrowed money to buy something that you could not afford at the time you received the house or car. If you have been able to avoid borrowing money for a house or a car, you are more fortunate than (probably) 95% of Americans. Bully for you. You're rich. That doesn't help the rest of us.

As for your "scheduled" jubilee, I agree entirely with your analysis. What you describe is exactly what banks and lenders would do if a jubilee were scheduled, and that would be disastrous for our economy. We must have continued lending. I agree with that.

No, in order to be truly effective, a jubilee must be unscheduled, i.e. out of the blue--catching lenders by surprise. Even so, I admitted in my previous post that my hope for a jubilee was a pipe dream. I'm not expecting one, so it's almost pointless to discuss what might happen if we had one.

That said, I thank you for your response.

-Laelth