a simple solution to all this debt ..., page-20

SP,

"I guess Jasonj we must avoid the risk of hyper inflation at all costs if it involves freeing businessses and the average person from being slaves to the banks, but it's OK to risk hyper inflation bailing out every bank from losses caused by excessive greed and worse. "

I don't think its practical to pay off people's debts for the following reasons:

- the banks would struggle to survive because they would temporarily lose their main source of income, which is earning interest off the money they loan. But they would still have staff costs etc

- The amount of money required to pay off the private debt is huge: The US household debt in the US is roughly $15 trillion. Non Financial businesses owe about $11 trillion. So where would that money come from?

I agree with you that the banks (particularly in the US) get away with murder, really someone should have gone to jail over the ninja, low doc loans etc.