I have also just seen Michael Hudson’s article on this topic put up on June 29th at his site.
If Marshall Auerback is right, what I wrote under the recent meritocracy article here was wrong. I tend to see aspects of SARS-CoV-2 in a scarier light than most. I was thinking supply chains would be even more disrupted (if I end up wrong, of course in a way it’ll be a good thing). I was thinking they’d be so badly hit that Vandana Shiva and FDR would start making sense to everybody. But Auerback paints a picture wherein some with money will survive, and continue demanding the high tech gear. His article is “Even If Joe Biden Wins in a Blowout, the ‘Global Economy’ Is Not Coming Back” at nakedcapitalism dot com, 7/25.
Also read a recent interview with Michael Hudson and Ellen Brown describing the “jubilee” debt forgiveness of the past and how it could overcome the present disastrous situation in the world.
And the perfect storm of plagues of biblical proportions now includes this issue as well. I might add also the epidemics here of obesity, drug overdoses, and suicides, and lest we forget the mother of all crises – unmitigated climate disaster. There was a time in history, when the Bible was respected on the issue of usury. It was forbidden, everybody who had Sunday School remembers that Jesus was totally against it. Because of how lucrative it is though, some people were able to manipulate the systems to not only allow it, but to build it up into the driving economic force of our times. It should be clear now, why the ancients considered it a particularly pernicious sin, it’s absolutely devastating and exploitative. There are many candidates for the title of Whip Ringmaster these days. And they are in both political parties. Let’s not forget Biden’s long time alliance with – Credit Card Companies!! And all retail companies now have customers buying their stuff with the store “account”, paying much interest on stuff they used to just buy with cash, it controls everything, from the gas people buy for their cars, to the college courses they take, and of course all the way up to the 2008 crash. To your point, the multi-national bankers were bailed out by the taxpayers, the same principle should be applied to all of this shit.
The debt cancellation must come to pass otherwise we all swim against a tide that wipe us all out . How many of the rich would want to live in a world where the dead and dying lay on the sidewalks of all major cities due to famine and disease because it will be their lot if mankind does not share .
The global debt machine appears to these eyes, to be a creation of illegitimate and corrupt practices and tricks. Approximately thirty “dirty” tricks are outlined in a short work titled “Farming Humans”.
The thirty dirty tricks involve corrupt and criminal ways in which clever men have altered the rules of fairness on which some nations were established. Rules such as “All men are created equal”, and equal before government and with regard to access to justice. The results of the cleverness in which these principles have been altered have the effect of repealing the laws of poverty for thousands of people, while simultaneously repealing the the possibility of prosperity for millions more.
It is a view of a series of clever crimes, when looked at carefully. I tried to do so and to put it into non technical language that anyone could understand in the book, “Farming Humans”, published in 2020.
hXXps://www.amazon.com/Farming-Humans-Money-Larry-Elford/dp/B0884FKNHL
It is time for a debt jubilee (as Michael Hudson has noted, the mark of a functional civilization). This should be global, not just for foreign debt. America is suffering more than it ever has and needs relief.
Just compare mortality rates of India and Africa to USA and Europe ! Even within Europe take Greece (uses generic treatment) vs. Belgium (prohibits generic treatment)
Quest and L. Corp. act just like what they are as stated up top: monopolies. They certainly have that attitude, in my experience with them. Mr. Gates, I would imagine, admires them.
How about the debt tens of millions of Americans are suffering under due to low wages, exorbitant college tuition and runaway healthcare costs?
The Liberty Bell inscription from Leviticus 25 proclaims it: Declare liberty throwout the land, meaning release the bond servants from debt.
Due to the evil of compound interest, many are trapped in a cycle of ever increasing debt: Farmers, students, victims of pay day lenders and all those who owe more than they can possibly pay.
throughout the land.
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