all4, I think the 'extremes' of poverty will be different. The short one (1 decade) will be massively severe. The 3 to 4 decade one will only be severe. I think the end outcome will be the same. A completely reset place (in 10 years or 30 years). I guess it will just be a choice about how fast the people want to get to the bottom. And plus is from the bottom there is no way, but up.
I have not heard from Kruggers and Wikipedia about this mess. I thought their mantra would have worn down the world... and the world would also have believed debt does not matter. Now, oddly if debt does not matter, I guess it can just be all forgiven. What's the diff.
I am not a Jewish dude, but I sure like that Biblical principle where all debt is wiped out / forgiven every 7 years. I guess our God did not believe in perpetual bonds. And while on the wipe out theme, apparently every 49 years (7 sevens) all land was returned to the original owner. Not too sure how it worked exactly, but God certainly did not have the idea of 'debt slaves'. He gave people a way out of their foolishness. And I guess a lender would also know there are no 30 year mortgages, so he better make his terms less than seven and make sure the debtor was a good risk.
Is it not amazing to see how silly our man-ideas have been. What a mess.... debt does not matter... a ha ha ha. Fictional Rich Babies will pay off all our accumulated debt AND pay for our day to day living as we potter around the retirement village.... a ha ha ha. You can make up money by typing numbers on a screen.... a ha ha ha.
