How widespread does debt need to be before the population goes into civil war for debt abolition?
Maybe if your whole life is lived to pay your student -> housing -> healthcare debt? 🤔
Discussion
When it is not only Unsustainable, but it becomes Unbearable, then there will be sparks of war.
at that point you are in communism, own nothing, have only what the gob gives eat the bugs and be happy.
No, debt forguveness ('Jubilees') are somewhat common throughout history, and has happened when the lending class (bankers) placed a usurious burden on society.
dont think there is such thing as debt forgiveness, someone takes the bill, in the case of banks they are either bailed out with taxes, or nationalized, hence communism. As more systems fail more intervention of the state is required to keep things afloat without civil unrest.
Nationalization=communism? Are you 17 and all edgy with your "controversial" ignorant opinions? Yikes
MSTR has shown that fiat debt is good .. as long as you capitalize the debt into some sort of assets .. a corporation, a building , real estate .. or even gold
#Bitcoin is the best because is lowest cost of acquisition and fastest too ..
Why ? Because if you take a debt of a million dollar today .. one year hence it is worth 800 k .. because value of fiat goes downtwenty to fifty percent ..
Student loan is the best .. because you are converting fiat into a degree .. which gets you employment..
I don't know why people are so much riled up against debt ???
It is only a modern thing that we have access to debt .. even today in third world , getting loans is tough af
That point is coming. Just a matter of time.
It's because it's not happening on a mass scale, it's only happening individually. If you're a whole block was to experience it at the same time. Like your whole neighborhood maybe they will wake up. If not Individuals are just going to keep falling alone.
Well, I don't want to sound pesimistic but look what happened to Germans when they got rid of the post WWI debt. Bankers loove your debt and they will do everything to have more of it.
And of course, the small man's debt is nice, but best is the debt of nations.
when will the slaves rise up against their masters?