My Economic Solution (ok, Maybe It's Not My Idea)
Here's my proposal: Jubilee.
In Bible times, every 50 years they'd wipe out all debts and set all slaves free. I'm not sure how they kept people from running up major debt in year 49, but it probably helped that credit cards hadn't been invented yet.
Anyhow, maybe that's what they should do. Wipe out all debts, personal and business - except maybe home loans. When people don't have to spend their paychecks on paying credit card bills (and all those fees), they'll have more money to plug into the economy.
Then there should be a complete overhaul of the credit system. No more using your Visa card at McDonalds. No more credit cards to people who are unemployed. Reasonable credit limits, and reasonable fees. Same goes for businesses. They can't grossly overspend either.
At the grocery store, I always get cynical seeing all the food stamp cards. I'm bailing out the poor. Now they want me to bail out the rich. When is somebody going to bail me out?
Labels: wisdom from the Bible
posted by hobbitsister @ 4:50 PM
6 Comments
6 Comments:
I LOVE Jubilee! (haven't read your post yet; just the first line, but I always liked it too:)
The rest of the post is good too. :)
i'm in!
Sounds good to me. Although, by no Visa at McD's, you mean credit card, right? Will they still take my debit card? :)
You probably wouldn't be able to get a loan or any credit close to the 50th year!
I understand what the food stamp thing is like. I find myself praying hard when I am behind someone who is paying with food stamps and buying things I can't afford on actual money. So hard not to be judgemental. If we set the slaves free, though, does that mean mommy's get a day off;)?
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