Mike Hudson Video (London)

[Mega]

Very good 9 mins worth me thinks:-
http://www.youtube.com/watch?v=3pwAF...e=channel_page
Mike

[strittmatter]

Re: Mike Hudson Video (London)

Let's say a debt jubilee came to pass.......

for any goof out there who happens to be solvent and whole at the time, anything in it for them?

this topic has been beat to death already but I gotta hold out hope for that one nobel prize winning solution that's comming along any day now.

[Spartacus]

Re: Mike Hudson Video (London)

you can live in the world you're accustomed to instead of living through a depression

Let's say a debt jubilee came to pass.......

for any goof out there who happens to be solvent and whole at the time, anything in it for them?

this topic has been beat to death already but I gotta hold out hope for that one nobel prize winning solution that's comming along any day now.

and you learn 2 valuable lessons -

1. next time do what the crazy people do and you too will benefit (if you can read the future and time matters just right so you don't get wiped out before the debt amnesty, and you structure your debts such that you will be eligible for a plan you never heard of)

2. life's not fair, as some of your more malicious teachers used to point out (usually to justify their own unfair malice)

I cannot think of any fair way to do it and it's been in the back of my mind for a long time, at least a year before I ever heard of Hudson - I posted this Aug 2006

http://itulip.com/forums/showthread....nesty#post2002

http://itulip.com/forums/showthread....t=debt+amnesty

[raja]

Re: Mike Hudson Video (London)

Let's say a debt jubilee came to pass.......

for any goof out there who happens to be solvent and whole at the time, anything in it for them?

this topic has been beat to death already but I gotta hold out hope for that one nobel prize winning solution that's comming along any day now.

The deadbeat homeowners can't pay their mortgages . . . so convert them to renters at a rate they can afford, and let ownership of the home revert to the creditors.

The creditors are punished, because they will get less money each month, and the value of the home has shrunk, and the deadbeat homeowners lose any equity they had built up . . . plus they don't get a house free-and-clear after 30 years.

Nobody becomes homeless, and most of the flow of money is restored so the banks don't fail.

Would that work?

[Spartacus]

Re: Mike Hudson Video (London)

that's basically what letting homeowners declare bankruptcy and letting the court reduce the mortgage's face value would do.

The debtor would pay a big price a lot, the creditor would pay a lot,- the ex-debtor would have to find a new place to rent.

your blurb below entails the debtor gets to stay in THAT specific house, but under bankruptcy you would not force the eventual owner to rent the place

The deadbeat homeowners can't pay their mortgages . . . so convert them to renters at a rate they can afford, and let ownership of the home revert to the creditors.

The creditors are punished, because they will get less money each month, and the value of the home has shrunk, and the deadbeat homeowners lose any equity they had built up . . . plus they don't get a house free-and-clear after 30 years.

Nobody becomes homeless, and most of the flow of money is restored so the banks don't fail.

Would that work?

[criticalcontrarian]

Re: Mike Hudson Video (London)

THANK YOU MIKE! You made my day! And you will have done so for whomever watches this vid. Brilliant! Burn the house down.:mad:

Very good 9 mins worth me thinks:-
http://www.youtube.com/watch?v=3pwAF...e=channel_page
Mike

[vanvaley1]

Re: Mike Hudson Video (London)

You split the burden. You don't let a debtor walk away from the debt if he wants and can afford to stay: extend the loan years, lower the rate (4%), and reduce the inventory so prices can turn around and go up...at a reasonable and not 'exuberant' rate. Creditor pays with lower returns, debtor can free up money for consumption and hope for future appreciation to repay debt, and 'gifted' agencies from foreclosures bout the country can shorttern balance some books that will require future balancing from 'gifting' agency. van

[Rajiv]

Re: Mike Hudson Video (London)

See also the thread posted by Marvenger - calls for debt forgiveness growing

The solutions suggested by Naill Ferguson are good -- but in no way sufficient -- I believe that the monetary system shall have to be modified -- possibly along the lines advocated by Margrit Kennedy and others

[FRED]

Hudson on the Debt Jubilee

Hudson on the Debt Jubilee

[Rajiv]

Re: Hudson on the Debt Jubilee

Fred, you might want to transfer the discussion from the original thread as well.

[we_are_toast]

Re: Mike Hudson Video (London)

On NPR's "this American life" near the end, they interview 2 guys who are doing exactly what Dr. Hudson is suggesting. They go around to banks and buy bad mortgages at a discount, they then go to the homeowners and either write a new mortgage for the current value of the house, or offer them a chance to rent, or resell the house if the owner can't do either of the above. According to them, they're making a pretty big profit and are looking for investors.

[strittmatter]

Re: Hudson on the Debt Jubilee

Fred, you might want to transfer the discussion from the original thread as well.

post hoc, a re-read of Hudson's "Recovery Plan From Hell" was well worth it.

http://www.counterpunch.org/hudson02112009.html

And by the same token, lobbyists for these bad banks are screaming at the top of their voices that all solutions to the problem are politically incorrect: debt writedowns to bring the debt burden within the ability to pay. That is what the market is supposed to do – by bankruptcy in an anarchic collapse, if not by reasoned government policy. The bad banks, after demanding “free markets” all these years, have stopped the free market when it comes anywhere near them and their bonuses. For them, markets are free of regulation against predatory lending; free of taxing the wealthy so as to shift the burden onto labor; free for the financial sector to wrap itself around the “real” economy like a parasitic vine around a tree and extract the entire surplus in the form of financial engineering.

You Tuliper's are doin a fine job of education feed for a country arse like mine, but I can't yet get the head around Hudson's land tax plan. Can anyone simplify?

[Rajiv]

Re: Hudson on the Debt Jubilee

There was a discussion of the land tax here - Ricardo's Law - The Great Tax Clawback Scam and here - Beating the Bust: Land Value Taxation

[cjppjc]

Re: Mike Hudson Video (London)

On NPR's "this American life" near the end, they interview 2 guys who are doing exactly what Dr. Hudson is suggesting. They go around to banks and buy bad mortgages at a discount, they then go to the homeowners and either write a new mortgage for the current value of the house, or offer them a chance to rent, or resell the house if the owner can't do either of the above. According to them, they're making a pretty big profit and are looking for investors.

They would have to forclose first in order to own the house. Looking for investors you say. In a down market "INVESTORS" work extremley hard for very little return. Can you say return OF your capital?

[metalman]

Re: Mike Hudson Video (London)

They would have to forclose first in order to own the house.

another pack of stupid knife catchers, npr's favorite interviewees. they're worse than cnbc.