Tweet
Seems significant that Niall Ferguson is promoting the heterodox solution of Steve Keen and Hudson in the FT no less:
http://www.ft.com/cms/s/0/85432b32-c...077b07658.html
Some form of a debt jubilee seems inevitable to me. The creditor oriented solutions of the FIRE economy are a desperate form of denial and are self contradictory. It's as if they are trying to keep the patient alive by giving the parasite killing him a transfusion.
An example might be:
http://mrmortgage.ml-implode.com/200...-pay-for-life/
Can you convince a parasite to stop trying to maximise its advantage by pointing out that this can only lead to its killing off the host?
http://www.ft.com/cms/s/0/85432b32-c...077b07658.html
Some form of a debt jubilee seems inevitable to me. The creditor oriented solutions of the FIRE economy are a desperate form of denial and are self contradictory. It's as if they are trying to keep the patient alive by giving the parasite killing him a transfusion.
An example might be:
http://mrmortgage.ml-implode.com/200...-pay-for-life/
Can you convince a parasite to stop trying to maximise its advantage by pointing out that this can only lead to its killing off the host?