Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Debt is a distributional issue. It nets down to zero as for each debtor there must be a creditor.

The rot is that we have had 40 years of propaganda to the extent that you cannot tax rich people because you would be stealing "their" dollars. Which makes it kind of tough to solve the distributional issue.

Another problem is that we have left money creation in the hands of debt. This therefore makes it necessary to maintain a high level of debt, and therefore a skewed distribution (technically two people could owe each other the same amount, and therefore you'd have debt without any inequality, but of course in practice it just does not happen).
We would need to reclaim control of the money supply in order to reduce debt levels.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Sun Oct 30th, 2011 at 02:12:46 PM EST
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