Mon Dec 15th, 2008 at 07:32:11 AM EST
....all the debt across the world was wiped out?
The only losers would be those with investments, right? No credits would be removed, only debits--monies owed.
No one would end up with less than zero.
Just a re-boot.
I have read that our children will be paying for our recklessness today. But....who will they be paying? If it is our recklessness, who today is going to be the loan shark that demands money with menaces from our children in the future? Who is the "financier without sin" who can afford to lend today only to demand back with interest tomorrow?
And: who today is in credit such that he she or they will be able to loan today in order to collect interest on debts owed tomorrow?