When the debt bomb explodes (and explode it will) my advice to underwater serfs would be to quickly declare bankruptcy (and as the pay day loan ad with the goose in the rabbit suit says) move on.
Yes ..... most local households work like serfs to pay zombie banks that are owned by loss making superfunds that the serfs have been forced into. There are many more levels to this than what may have been the case in Marx's day.
Along with the Uber driver with interest only loans in 6 rental properties many old school capitalists will IMO be taken out by the debt bomb when it explodes.
Should the debt bomb have enough force, it may lead to the longer emergence of different economic governance structures but I doubt that these are accurately described in any historic text. Historically short term greed and big government always get in the way of longer term sustainable prosperity so we can but wait and see.
