Use access key #2 to skip to page content.

alstry (35.37)

Morally....Who Gets To Borrow?

Recs

6

May 21, 2010 – Comments (3)

Who gets to borrow when it is not expected that the loan can be paid back?

Do you really think Califorinia can pay back its debts with declining tax recepits and exploding debt?

What about Harley Davidson with declining sales and rising debt?

What about a family that has seen its income drop but expenses rise?

What about Greece?  or America? or any other nation where tax receipts are declining but spending rising?

Right now much of the worlds economies.....and world's consumption is simply based on lending and spending?

Where the sticky issues come in is why do Greeks, or American nurses, or airline pilots have to take wage cuts when revenues are declining but government workers or bankers are getting raises?

How do we morally allocate debt when really few can ever pay it back?

The problem is the Industrial Economy with its current set of rules and laws is both economically and morally bankrupt.........how do we restructure going forward as we head into the Digital Age without driving the world into chaos?

You think Greeks, or Spaniards,  or Russians, or cops, or firemen are going to suffer silently while other nations or employees are prospering simply because they get credit even though none are "qualified" to get the loans in the first place?

It is time to set the foundation as we head into the digital age.

It will be exciting......

3 Comments – Post Your Own

#1) On May 21, 2010 at 11:49 AM, Gemini846 (57.62) wrote:

I think this is one of the least ranting things you've ever wrote.

All this money was loaned to banks who didn't deserve it with the expectation they would loan it to others. They used it to inflate the stock market instead and get short term gains to make other's feel good.

Report this comment
#2) On May 21, 2010 at 12:27 PM, alstry (35.37) wrote:

Why do you think Alstry ranted?

Now what happens to the economy if no loans are made while the bankers got billions in bonuses?

How hard was this to foresee?

Report this comment
#3) On May 21, 2010 at 2:47 PM, alstry (35.37) wrote:

As a follow up.....if few countries can pay back debt under current conditions.....

how do you determine which countries get debt and how much?

This is where the problem of Marshall Law relating to Brown v. Board of Education comes in applying it in a global world.....

can you give seperate but equal loans to governments of different nations when neither nation can really pay back the debt regardless.....

if so, how much?, if not....the consequences will be very convulsive for those in the Western world.

Think about it.....US government workers can make $50-$100K per year because America borrows $2 trillion per year to pay them(it is also why doctors are currently making so much through medicaid).....vs. paying government workers $5K to $10K if America only borrowed $200 Billion.

 

Report this comment

Featured Broker Partners


Advertisement