States Declaring Bankruptcy

Forums: Debt Forgiveness, Bankruptcy
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If states declare bankruptcy, couldn't they just set a deflation rate on debts and pay of their debts at that fraction of the owed amount?

In fact, couldn't the Federal Reserve or other authority declare a general debt-forgiveness percentage and inact it so that everyone pays only a certain percentage of their debts instead of the whole amount?

What would be wrong or right about forgiving debt in this way?

https://www.cbsnews.com/news/mitch-mcconnell-states-bankruptcy-federal-aid/

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Type: Discussion • Score: 0 • Views: 517 • Replies: 4

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@livinglava,

That's why Mitch is the "Enabler-in-Chief" to Plump.

Their conjoining of convenince has been given a name by a investigtive team. Its called PLUTOCRATIC POPULISM

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@farmerman,

farmerman wrote:

That's why Mitch is the "Enabler-in-Chief" to Plump.

Their conjoining of convenince has been given a name by a investigtive team. Its called PLUTOCRATIC POPULISM

And what do you call it when governments keep borrowing to pay people and keep shifting the debt to future generations?

How many generations of industrial-consumers do you need to enslave to debt before you finally enact the real green new deal and liberate people from the debt-driven rat race?

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@livinglava,

Shouldnt you call for an AMEN after that brief sermon?

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@farmerman,

farmerman wrote:

Shouldnt you call for an AMEN after that brief sermon?

What point exactly are you trying to make with this sarcasm?

I.e. what is it about what I said that you're calling a 'sermon,' and what exactly is your problem with it?

You seem to have ideas about why your view of economic governance is superior to mine, so why aren't you fleshing it out for discussion instead of just dropping little sarcasm bombs?

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States Declaring Bankruptcy

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