tag:blogger.com,1999:blog-2121490237517462736.post4447322842773365307..comments2024-02-20T01:52:53.299-08:00Comments on Futronomics: contrarian analysis of global macro trends, commodities, currencies, equities: Must Read Articles 05.10Matt Stileshttp://www.blogger.com/profile/17977694389453612864noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2121490237517462736.post-13708747701239242352010-02-05T17:25:50.540-08:002010-02-05T17:25:50.540-08:00ViewFromTheSouth,
Yes, the periodic reset was re...ViewFromTheSouth, <br /><br />Yes, the periodic reset was referred to as a "Debt Jubilee." I think it was Byzantium that had them scheduled every 60 years or so, and conducted this practice for many centuries. <br /><br />As far as the aversion to debt repudiation, the only cause for such an attitude is that most have something to gain by ensuring creditors are made whole. Most of the people you hear giving their opinions on "possible solutions" work for major investment houses, banks, brokers, etc. Many others would be hurt as well. Pensioners would probably be the hardest hit. That would likely result in serious civil and political discord. <br /><br />But the simple fact remains. Debts that can't be repaid, won't be repaid. Most people under 35 seem to understand this. And I don't think any of them have <i>any intention whatsoever</i> of honoring the obligations created by others. That demographic is growing. Eventually they will get their way.Matt Stileshttps://www.blogger.com/profile/17977694389453612864noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-86616724572673771822010-02-05T14:09:41.925-08:002010-02-05T14:09:41.925-08:00Matt,
What do you believe is the resistance to de...Matt,<br /><br />What do you believe is the resistance to debt repudiation? I have been trying to figure this out the last year and a half or so. Hudson has stated "in videos I have seen" that in pre-nation state days, that some societies did this as a matter of tradition/practice. They understood that debt could not grow forever and a periodic reset was needed. He stated that because the debt was generally owed to the crown they could reset, but now the ownership of debt is not monolithic-ally owned it may not be as palatable.ViewFromTheSouthnoreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-81932485035244676322010-02-05T09:32:38.440-08:002010-02-05T09:32:38.440-08:00I know. This is getting ridiculous. I'll loo...I know. This is getting ridiculous. I'll look into it.Matt Stileshttps://www.blogger.com/profile/17977694389453612864noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-49725158102515542242010-02-04T19:38:41.742-08:002010-02-04T19:38:41.742-08:00Damn spammers. Time to eliminate anonymous comment...Damn spammers. Time to eliminate anonymous comments, Matt.Anonymousnoreply@blogger.com