Quote:
Originally Posted by Tyrone Slothrop
No doubt that delinquency is going to go up, but if it were really true that people are going to think contracts are just pieces of paper, you wouldn't be talking about the need for debt relief.
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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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