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Re: Jubilee
Quote:
Originally Posted by sebastian_dangerfield
That's exactly why we need forgiveness. If you offer it, the fiction is retained. It's beneficence. If we allow a shitshow to happen where debtors default en masse or go on debt strikes (like many renters are doing already), the fiction's gone.
But there is a silver lining to that... When no on trusts anyone to pay anything, rates fly. We could use some high rates at some point.
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The people who care about their credit scores and can pay their bills are still going to pay their bills.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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