This idea has been on my mind for quite a while now. It seems that every country owes billions if not trillions to other countries and even China is no exception. The only way I can see the world's economies getting out of this is for EVERY country to forgive the debts owed to them by the other countries.

The Bush Admin has forgiven billions of dollars owed by other countries (just giving attribution, not getting political or partisan) so I think it's time every other country step up to the plate and do the same. If the world's economies forgive the debt that's owed to each other and start with a clean slate along with a set of rules and guidelines maybe, just maybe the world economy can move forward.

Now, I'm not saying that this idea gives carte-blanche to countries getting back into debt again and be forgiven again. Part of the rules and guidelines would stipulate that no country can ask for a bailout or debt forgiveness for another 200 years or better yet, another 1000 years (in order to discourage countries from getting back into the same situation). If a particular country falls back into that situation again they will have to resolve it on their own with no help from other countries (no bailout or forgiveness).

This is just an idea, a concept but I think a variation of this could work.

 

Gotta be the dumbest idea I've ever heard. How is giving someone something for nothing a good idea? If a country cannot manage it's fiscal responsibilities then it needs to come under a leadership (diplomatic) that will have the ability to correct the problem. I don't understand how we, the American people, have not gone ape-shit over this. We should have put a stop to this out of control deficient years ago. How about countries quit spending exorbitant amounts of money on bullshit, issue a flat tax, and in a few years you'll see some stability. Close loophole and exception clauses, and stop spending $800 on a f@#king toilet seat. That's my solution.

If the leaders of this country will issue bailouts and have the mentality that they are an "acceptable solution"...then they should be replaced.

ib4MoveToPolitics

 

Abolish the unFederal Reserve and practically all of our problems go away. It really is that simple.

 

I could see the markets tumbling through the basement if this idea were even mentioned by a politician of power.

 

What would that do for us?

Is it to stop the federal reserve from increasing the money supply and causing inflation?

I'm asking these questions seriously.

 

And if the private market controllers found out about it, shit, debt would blow through the roof. If they're going to zero all the debt, why not start racking it up?

We should have let the banks fail; as true capitalism calls for.

 

Who would buy the bonds if they knew the value of them would be wiped out?

Would you loan someone money knowing they are going to declare bankruptcy and have all their debts erased?

 

I for one, welcome our new Alien overlords.

 

No. Just no. The answer is to spend less than your income. It works for us as individuals and it works for countries. If everything is just forgiven there is no lesson learned. Stop paying later. Pay now.

I'm not really against paying somewhat higher taxes (in the USA) but I demand that every additional dollar of taxation be matched by a dollar's reduction in federal spending. And stop calling a "freeze on a scheduled increase" a cut. That isn't a cut, you pork-stuffing legislators!

 

Forgive yer butt.